Insurance Agencies and Brokers
SIC 6411 / NAICS 524210
The following resource guide provides sources for industry information including
industry trends and statistics, financial ratios, salary surveys, and more.
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For resource guides specific to other industries, see
Industry Information Resources which covers
over 400 individual industries.
Insurance Agencies
http://www.firstresearch.com
Profiles cover key aspects of an industry's size, scope, and operations, recent
news and developments, industry trends, risks, and opportunities, and include
a five-year industry forecast. Profiles are updated quarterly and include:
Independent Insurance Agents of America
The Insurance Distribution Study: Trends, Implications & Effects of Change
http://www.iiaa.org/ Contact association
for more information.
Study examines a number of external and internal drivers of change likely to be
predominant in the insurance industry including financial pressures, consolidation,
advances in technology, regulation and rising consumer expectations and empowerment.
Insurance Brokers and Agencies
http://www.ibisworld.com
Report provides in-depth analysis and a five-year industry forecast, with special
focus on the underlying structure and the external forces and interrelationships
that drive an industry. Report sections include:
Bureau of Labor Statistics, U.S. Department of Labor
Career Guide to Industries - Insurance
http://www.bls.gov/oco/cg/home.htm
Information provided includes a description of the nature of the work, number
and types of jobs, education and training, wages and earnings, employment outlook,
and sources for additional information. All information is free online.
BizMiner
Industry Market Statistics
http://www.bizminer.com
Industry statistics include market volume, number of firms, annual sales and sales
trends, sales per employee, staffing and employment trends, business start up
activity and failure rates, and other business statistics and information on a
national, state, and metro area level.
More Industry Research and Analysis
For more industry research and analysis available from Standard & Poor's, IBISWorld,
Dun & Bradstreet, and other sources which cover a wide variety of industries,
see Industry Overview, Issues, Trends, and Outlook.
Independent Insurance Agents and Brokers of America
Best Practices Study
http://bp.reaganconsulting.com/
Study provides financial and operational benchmarks for insurance agencies by
revenue volume for six categories ranging from under $1,250,000 to over $25 million.
Benchmark data categories include income and expenses, financial stability, employees,
producers, service staff, technology, insurance carriers, and more. Executive
summary data and detailed comparison worksheet are available free online.
The Academy of Producer Insurance Studies
Growth and Performance Standards
http://www.scic.com/Academy/Publications/ProductivitySeries.asp
Comparison standards for income and expense averages, balance sheet ratios, premiums
receivable aging, and productivity standards are provided for agencies of various
regions and sizes. Standards are also provided for commercial and personal lines-focused
agencies, best performing agencies, and agencies in metro areas of different sizes.
BizMiner
Industry Financial Analysis
http://www.bizminer.com
Five-year comparative financial analysis includes income statements with expense
detail, balance sheets, and key business and financial ratios. Available in all
firms, small business, sole proprietor, and business start up versions.
BMG Consulting
Owner, Executive, & Producer Compensation Survey
http://www.bmgconsulting.com/
Survey breaks out producer compensation by line of business—commercial (mid-large),
small commercial, personal, employee benefits, life, and multiline—on a national
level as well as by region and revenue range.
BMG Consulting
Non-Producer Compensation & Benefits Survey
http://www.bmgconsulting.com/
Survey provides salary and benefits data for 45 agency and brokerage positions
on a national level as well as by region and revenue range.
The Academy of Producer Insurance Studies
Producer Compensation: A Profile of Pay and Performance
http://www.scic.com/Academy/Publications/MarketingSeries.asp
This study discusses the different methods of compensation, such as salary and/or
commission. Averages and distributions for total annual compensation and annual
production are also provided, as well as how producers spend their time.
Bureau of Labor Statistics, U.S. Department of Labor
Career Guide to Industries - Insurance
http://www.bls.gov/oco/cg/home.htm
Information provided includes a description of the nature of the work, number
and types of jobs, education and training, wages and earnings, employment outlook,
and sources for additional information. All information is free online.
Bureau of Labor Statistics, U.S. Department of Labor
Occupational Employment Statistics - Insurance Agencies and Brokerages
http://www.bls.gov/oes/current/naics5_524210.htm
Employment and hourly and annual wage estimates by industry and job position on
a national basis. All data is free online.
More Compensation and Salary Data
For more compensation and salary survey data available from ERI Economic Research Institute, Salary.com, and
other sources covering a wide variety of industries, see Compensation
and Salary Surveys.
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Empire Valuation Consultants, LLC
Determining Agency Value
http://www.empireval.com/library/
Six-part series written for the Professional Insurance Agents of America which
discusses key factors to be considered in valuing an insurance agency, normalizing
adjustments to be applied in determining an agency's earnings capacity, and valuation
methods commonly used to value insurance agencies. All articles are free online.
The National Underwriter Company
Insurance Mergers & Acquisitions Insights - Industry Sourcebook
http://cms.nationalunderwriter.com/cms/nationalunderwriter/public%20website
Select "Books and Resources - Insurance Merger & Acquisition Insights"
Annual publication provides comprehensive analysis of mergers and acquisitions
involving insurance brokers and agencies. Topics covered include detailed information
on the past year's transactions and trends and developments for the future, transaction
pricing and structure data including EBITDA and revenue multiples by type of transaction,
acquirer profiles, and related information on the transaction process and valuation
and management issues.
The Academy of Producer Insurance Studies
Maximizing Agency Value II: A Guide for Buying,
Selling and Perpetuating Insurance Agencies
http://www.scic.com/Academy/Publications/MarketingSeries.asp
This study examines the reasons for buying and the factors in valuing an agency,
the diligent work prior to a sale, and procedures for consummating the deal. It
discusses owner preparation for a sale, locating and evaluating buyers, and post-sale
responsibilities. In addition, it explains the objectives of perpetuation plans
and the different methods of perpetuation.
The Academy of Producer Insurance Studies
Critical Factors Impacting Agency Value
http://www.scic.com/Academy/Publications/ProductivitySeries.asp
Publication focus is critical factors that add and preserve agency value, including
how agency owners rank these factors, and comparison of rankings to industry benchmarks.
JT Research LLC
Valuing Insurance Agencies
http://www.jtresearch.com/valuation_resources/bibliographies/insurance.html
Bibliography of articles on valuing insurance agencies.
Small Business Valuation Formula Multiples
Insurance Agencies
http://valuationresources.com/Misc/ValuationMultiples.htm
Report provides small business valuation formula multiples for insurance agencies
and more than 190 other industries. Valuation multiples are derived from market
transactions as reported by BIZCOMPS®, with the primary focus on small companies
priced at less than $1 million.
BVMarketData
Pratt's Stats® Private Transaction Database
http://www.bvmarketdata.com/PSAdvSearch.asp
Free "Visitor Search" allows users to search over 12,000 private company sales transactions by SIC Code, NAICS
Code, or business description for comparable sales data. Data can be purchased as a single report or by subscription.
More Business Sales Transaction Data
For more business sales transaction data available from BIZCOMPS®, Done Deals, Public Stats™, and other sources
for a wide range of industries, see Business Valuation Multiples and
Merger & Acquisition Transaction Data.
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