2024 BPS Study_Final (8.16.24)
Executive Summary
Average Revenues
Regional Distribution
Weighted Average Shareholder Age (WASA) 53.8
$1,828,110
◼ Northeast ◼ Midwest
20.7% 27.6%
◼ West
3.4%
◼ Southeast ◼ Southwest
37.9% 10.3%
Corporate Structure
Profile
Average Number of Shareholders 1.8 Average Number of Agency Locations 1.4
C Corp 13.8%
LLC 20.7%
S Corp 65.5%
Revenue Distribution (as a % of Gross Revenue)
Organic Growth in Net Commissions & Fees (excluding contingents, bonuses & overrides)
Contingent/ Bonus/ Overrides 7.5%
20.3%
Other 1.0%
18.1%
16.6%
16.1%
Group L/H/F 3.0%
11.4%
10.1%
7.4%
Commercial P&C 50.7%
Personal P&C 37.8%
1.5%
Total Agency
Commercial P&C
Personal P&C
Group L/H/F
Median
Top Quartile
Note : Commercial P&C includes Bonds/Surety. Group L/H/F includes Group Medical, All Other Group, and Individual L/H/F .
Revenue and Growth
Account Stratification
Notes
• The $1.25M to $2.5M revenue group posted the second highest organic growth rate, 11.4%, and the highest top quartile organic growth rate of 16.1%. • Group L/H/F revenue shrunk by 1.4% year over year to 3%. This is the smallest percentage of Group L/H/F business for all revenue groups and 4% less than the $2.5 5M revenue group.
Commercial P&C
Group L/H/F
◼ < $5K
◼ Under 50 lives
55.3%
76.3%
◼ $5K to $10K
◼ From 50-100 lives 10.4%
12.8%
◼ $10K to $25K
◼ Over 100 lives
14.6%
13.3%
◼ $25K to $50K
6.4%
◼ > $50K
11.0%
$1.25-2.5M
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