| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
49.4% |
50.8% |
47.0% |
| Bonds |
2.5% |
1.9% |
1.6% |
| Personal
Lines |
23.4% |
27.5% |
22.8% |
| VAS
– P&C |
1.3% |
0.2% |
0.0% |
| Contingent/Bonus |
10.9% |
13.6% |
15.6% |
| Group
Life & Health |
8.8% |
2.7% |
7.9% |
| Individual
Life & Health |
2.2% |
2.4% |
3.6% |
| VAS
– L&H |
0.0% |
0.0% |
0.0% |
| Bonus/Overrides |
0.6% |
0.0% |
0.6% |
| Investments |
0.6% |
0.7% |
0.5% |
| Miscellaneous |
0.3% |
0.3% |
0.4% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.1% |
0.3% |
0.5% |
| Net
Revenues |
98.9% |
99.7% |
99.5% |
| Expenses
(as % of Net Revenues) |
| Compensation |
61.2% |
53.3% |
57.5% |
| Selling |
4.6% |
5.9% |
4.8% |
| Operating |
16.1% |
14.4% |
16.9% |
| Administrative |
2.4% |
2.1% |
2.0% |
| Total
Expenses |
84.4% |
75.8% |
81.2% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
15.6% |
24.2% |
18.8% |
| Pro
Forma Pre-Tax Profit |
22.4% |
34.3% |
25.1% |
| Operating
Pre-Tax Profit |
2.2% |
6.4% |
2.0% |
| EBITDA |
18.3% |
26.0% |
21.7% |
| Pro
Forma EBITDA |
25.3% |
36.4% |
28.4% |
Definitions:
- Pro
Forma Pre-tax Profit is Pre-tax Profit if discretionary
expenses are eliminated and all owners compensated
as employees
- Operating Pre-tax Profit is Pre-Tax Profit
excluding income from contingents, bonus and investment
income
- EBITDA is Earnings Before Interest
Taxes Depreciation
and Amortization
- Pro Forma EBITA is EBITA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
