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
Reports provide in-depth industry analysis and a five-year industry forecast, with special focus on
the underlying structure and external forces and relationships that affect an industry and its performance.
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.
Industry Market Research Reports
http://www.marketresearch.com
In-depth business market research reports include information on market size and market segmentation;
marketing strategy; product and market forecasts; business trends, risks, and opportunities; key participant
profiles; market share data; and more. Summary abstract and detailed table of contents for each market
research report is accessible free online.
Industry Market Analysis Reports
http://www.bizminer.com
Industry statistics include industry sales and sales trends, market size and market share by sales
class, average company sales and sales per employee, staffing and employment trends, business start
up activity and failure rates, and other business statistics on a national, state, and metropolitan
area level. Sample market analysis reports can be viewed free online.
More Industry Research and Analysis
For more business research and analysis available from Standard & Poor's, Freedonia, Euromonitor,
Dun & Bradstreet, and other sources—including key business statistics, market research and analysis,
and business trends and forecasts for a wide range of industries, see
Industry Overview, Issues, Trends, and Outlook.
Industry Financial Ratios
http://www.bizminer.com
Five-year comparative financial statement analysis includes income statements with expense detail, balance sheets,
cash flow statements, and key business and financial ratios. Reports are available by sales size range,
and also in small business, sole proprietor, and business start up versions. Sample reports with detailed
financial ratio analysis can be viewed free online.
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.
More Industry Financial Analysis
For more business financial information and analysis available from Integra Information, RMA Annual Financial Statement Studies, and other sources—including financial statements, financial ratios, and other key performance indicators and benchmarks for a wide range of industries, see Industry Financial Information and Financial Ratios.
BMG Consulting
Information resources available from this organization include:
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.
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.
ERI Economic Research Institute
Insurance Brokers and Agents Salary Survey
http://salary-surveys.erieri.com/
Survey provides compensation data for executive, management, and hourly personnel on a national and
state level by company size. Complete listing of job positions included in the survey and sample pages
for selected positions are accessible free online.
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.
Officer Compensation ExpenseSee "
BizMiner Industry Financial Ratios" above for report including this data.
Five-year comparative financial analysis details officer compensation expense in both dollars and as a percentage of sales. Available by sales size range, and also in small business, sole proprietor, and business start up versions. Sample financial reports can be viewed free online.
More Compensation and Salary Data
For more compensation and salary survey data available from ERI Economic Research Institute, PayScale, Salary.com, and other sources—including average salary, salary range, incentive compensation, and employee benefits information for a wide range of jobs and industries, see Compensation and Salary Surveys.
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 200
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
Private Company Sales Transactions Databases
Pratt's Stats® http://www.bvmarketdata.com/PSAdvSearch.asp
BIZCOMPS® http://www.bvmarketdata.com/BIZAdvSearch.asp
Free "Visitor Search" allows users to search thousands of private company sales transactions by SIC Code, NAICS Code, or business description for comparable business sale transaction data, including revenue, earnings, and EBITDA multiples. Data can be purchased as a single report or by subscription.
More Business Sale Transaction Data
For more business sale transaction data available from BizBuySell®, Done Deals, MergerStat, Public Stats™, and other sources for a wide range of industries, see Business Valuation Multiples and Merger & Acquisition Transaction Data.
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