| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
45.1% |
39.4% |
44.8% |
| Bonds |
0.7% |
0.8% |
0.8% |
| Personal
Lines |
38.5% |
47.8% |
34.0% |
| VAS
– P&C |
0.2% |
0.0% |
0.1% |
| Contingent/Bonus |
7.8% |
4.3% |
8.6% |
| Group
Life & Health |
4.6% |
6.0% |
5.3% |
| Individual
Life & Health |
1.8% |
1.5% |
3.5% |
| VAS
– L&H |
0.7% |
0.0% |
2.7% |
| Bonus/Overrides |
0.0% |
0.0% |
0.0% |
| Investments |
0.6% |
0.2% |
0.3% |
| Miscellaneous |
0.1% |
0.0% |
0.0% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.0% |
0.0% |
0.0% |
| Net
Revenues |
100.0% |
100.0% |
100.0% |
| Expenses
(as % of Net Revenues) |
| Compensation |
58.9% |
47.2% |
57.0% |
| Selling |
6.0% |
4.5% |
5.0% |
| Operating |
17.0% |
17.9% |
17.2% |
| Administrative |
1.5% |
1.2% |
1.4% |
| Total
Expenses |
83.4% |
70.8% |
80.6% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
16.6% |
29.2% |
19.4% |
| Pro
Forma Pre-Tax Profit |
23.0% |
39.5% |
25.0% |
| Operating
Pre-Tax Profit |
5.0% |
15.9% |
6.9% |
| EBITDA |
18.5% |
29.2% |
20.1% |
| Pro
Forma EBITDA |
24.8% |
39.4% |
25.7% |
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
|
|
