| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
47.1% |
47.0% |
42.3% |
| Bonds |
1.2% |
0.2% |
0.3% |
| Personal
Lines |
25.2% |
31.2% |
15.2% |
| VAS
– P&C |
0.2% |
0.2% |
0.2% |
| Contingent/Bonus |
8.0% |
8.3% |
8.0% |
| Group
Life & Health |
12.7% |
9.9% |
23.7% |
| Individual
Life & Health |
3.7% |
1.0% |
8.0% |
| VAS
– L&H |
0.1% |
0.0% |
0.2% |
| Bonus/Overrides |
0.4% |
0.5% |
1.1% |
| Investments |
1.1% |
1.5% |
1.0% |
| Miscellaneous |
0.3% |
0.0% |
0.0% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.1% |
0.1% |
3.1% |
| Net
Revenues |
98.9%
|
99.9% |
96.9% |
| Expenses
(as % of Net Revenues) |
| Compensation |
65.0% |
62.0% |
70.8% |
| Selling |
3.1% |
2.5% |
3.5% |
| Operating |
13.5% |
11.7% |
12.8% |
| Administrative |
3.2% |
1.3% |
2.6% |
| Total
Expenses |
84.8% |
77.4% |
89.7% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
15.2% |
22.6% |
10.3% |
| Pro
Forma Pre-Tax Profit |
20.5% |
32.7% |
19.6% |
| Operating
Pre-Tax Profit |
5.6% |
12.3% |
-0.1% |
| EBITDA |
17.6% |
23.5% |
13.1% |
| Pro
Forma EBITDA |
22.9% |
33.7% |
22.4% |
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 EBITDA is EBITDA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
