2024 BPS Study_Final (8.16.24)

Revenue Growth

AGENCIES WITH REVENUES OF:

MEDIAN

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Revenue Growth by Source: TOTAL COMMISSIONS & FEES Renewal Business

91.1%

96.9%

99.3%

98.4%

98.0%

95.8%

New Business

14.7%

12.1%

11.0%

12.5%

13.4%

13.8%

Acquired Business

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

Total Growth

5.7%

11.4%

12.1%

11.3%

11.3%

11.8%

Organic Growth

5.4%

11.4%

11.7%

11.3%

10.4%

9.8%

Brokerage Commission Expense

-51.0%

6.1%

21.3%

4.4%

-7.3%

8.9%

Net Commissions and Fees Total Growth

5.7%

11.4%

12.1%

11.3%

11.3%

11.8%

Organic Growth

5.4%

11.4%

11.7%

11.3%

10.4%

9.8%

2023 BPS Organic Growth

6.4%

8.7%

10.0%

10.8%

10.3%

10.8%

P&C Contingent Income

-6.3%

-8.1%

-0.3%

9.3%

1.1%

4.8%

L/H/F Bonus Income

20.0%

0.0%

17.2%

0.0%

0.4%

13.4%

Investment Income

14.0%

-37.1%

9.0%

11.3%

5.8%

8.8%

Miscellaneous Income

6.2%

47.7%

57.5%

46.1%

12.4%

12.1%

NET REVENUE TOTAL GROWTH

5.8%

9.6%

11.9%

11.6%

12.5%

12.8%

NET REVENUE ORGANIC GROWTH

5.6%

9.6%

10.8%

11.4%

12.2%

11.8%

AGENCIES WITH REVENUES OF:

TOP QUARTILE

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Renewal Business

97.4%

100.4%

102.6%

101.7%

102.1%

98.7%

New Business

16.7%

21.4%

17.3%

16.6%

16.9%

18.0%

Acquired Business

0.0%

0.0%

0.0%

0.0%

0.3%

2.4%

Total Growth

13.0%

16.1%

17.8%

16.5%

17.0%

16.3%

Organic Growth

12.0%

16.1%

14.7%

16.3%

16.2%

14.6%

Brokerage Commission Expense

-11.6%

40.5%

115.3%

38.3%

11.5%

30.0%

Net Commissions and Fees Total Growth

13.2%

16.1%

17.4%

16.3%

16.9%

16.4%

Organic Growth

12.1%

16.1%

14.7%

16.1%

15.6%

14.4%

2023 BPS Organic Growth

10.9%

15.9%

13.0%

16.8%

14.2%

14.5%

P&C Contingent Income

5.7%

20.5%

18.0%

30.9%

19.4%

15.9%

L/H/F Bonus Income

20.0%

0.0%

17.2%

21.2%

12.4%

23.7%

Investment Income

17.6%

-32.2%

14.2%

21.5%

26.1%

30.1%

Miscellaneous Income

26.3%

209.5%

84.2%

71.0%

48.0%

72.1%

NET REVENUE TOTAL GROWTH

11.1%

15.7%

17.0%

17.4%

18.7%

19.6%

NET REVENUE ORGANIC GROWTH

9.9%

15.7%

16.1%

16.5%

17.8%

15.9%

Note: The Median is the mid-point in a list of data – it is different than the Mean or Average. Median data cannot be added/subtracted to arrive at related Medians. Each data point presented above (Renewal Business %, New Business %, Total Growth %, Organic Growth %, etc.) must be viewed as a discrete Median data point.

Cross Category Comparison

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