Insurance Agencies & Brokers – Industry Research, Analysis, Statistics, and Forecasts

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Industry Analysis, Statistics, Trends, and Forecasts

• Market size and major product and service segments
• Key industry statistics, trends, and financial ratios
• Operating conditions and current performance
• Competitive landscape and environment
• Major company profiles and market shares
• Five-year outlook and growth forecasts

The Council of Insurance Agents & Brokers
Leader's Edge Magazine
https://leadersedgemagazine.com/

Monthly publication provides news and information for commercial insurance and employee benefits agents and brokers, with topics covered in various issues including agency management trends and best practices, international business and regulation, merger and acquisitions, technology, and legal and legislative issues. Current and archived digital editions of the magazine are available free online.

Independent Insurance Agents & Brokers of America
Publications available from this trade association include:

Independent Agent Magazine
https://www.iamagazine.com/
Monthly trade journal features news and information for independent agents and brokers, with topics addressed in various issues of the publication including business management, market trends, sales and marketing, new products, employee recruiting and training, technology, and legal and regulatory issues. Selected articles from current and archived issues of the publication are available free online.

Agency Universe Study
https://www.independentagent.com/
Biennial report provides a detailed analysis of independent insurance agencies operating in the U.S., with topics covered in the study including number of agencies, revenue base and sources, employee staffing levels, agency ownership, mix of lines of business, product diversification, technology usage, non-insurance income sources, and marketing methods. Table of contents can be viewed free online.

Market Share Report
https://www.independentagent.com/
Annual report provides market share trend data for select property and casualty premiums by line for national, regional, and captive agencies and direct response carriers, with lines of business analyzed in the report including private passenger auto, commercial auto, homeowners, commercial multi-peril, commercial group, and workers' compensation. Current and prior editions can be viewed free online.

BizMiner Market Analysis Reports
Insurance Agencies and Brokerages
https://www.bizminer.com  Search for "524210" to see available reports

Market analysis reports provide industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.

Financial Statements and Financial Ratios

https://www.bizminer.com  Search for "524210" to see available reports

• Income and expenses in dollars and percentages
• Balance sheets in dollars and percentages
• Profitability and return on investment ratios
• Liquidity and working capital ratios
• Asset turnover and efficiency ratios
• Capital structure and debt service ratios

(see links for individual reports)  (sample spreadsheet)

Key statistics section of these reports provides detailed income statements and balance sheets on a common-size basis and over twenty-five industry financial ratios, with financial ratios provided for the each of the four most recent calendar years and on a historical average basis for 3-year, 5-year, and 10-year time periods. Sample spreadsheet with breakdowns by asset size can be viewed free online.

Reagan Consulting
Best Practices Study
https://reaganconsulting.com/

Annual report provides a comprehensive examination of top performing agencies across the country, with key measures of agency performance and value analyzed in the study including revenue growth and profitability, financial stability, expense management, sales production, and operations efficiency for six revenue categories ranging from under $1.25M to over $25M. Preview is available free online.

The National Alliance
Growth & Performance Standards
https://nationalalliancebooks.com/

Publication provides key performance indicators that allow users to compare their agency to industry norms and other agencies with respect to revenue and expense averages, balance sheet ratios, and productivity measures, with key performance indicators in national reports broken out by agency size based on annual revenues, focus on commercial lines or personal lines, and market area population.

Compensation and Salary Surveys

MarshBerry Capital, Inc.
Insurance Brokerage Compensation Study
https://www.marshberry.com/market-intelligence / 2022-Compensation-Study

Biennial compensation report provides base salary, commission, bonus, and employee benefits data for executive, management, sales production, service, and support personnel employed by agencies and brokerages, with compensation and benefits data based on a survey of over 300 insurance firms participating in the study and data sets from MarshBerry's proprietary financial management system.

The National Alliance
Producer Profile: Compensation, Production, and Responsibilities
https://nationalalliancebooks.com/

Producer profile report is based on a survey of over 600 P&C producers from independent insurance agencies and provides comparative producer benchmark data for annual compensation, commission rates, benefits, and covered expenses as well as information on average account size, new business focus, sales production, growth rates, hit ratios, job responsibilities, qualifications, and training needs.

BV Guides and Databases

BVMarketData
Private Company Sales Transaction Databases
https://www.bvresources.com/

The National Alliance
Publications available from this organization include:

Starting, Buying, Selling, and Perpetuating Insurance Agencies
https://nationalalliancebooks.com/
Comprehensive guide covers the various aspects of starting, buying, or selling agencies, with topics covered in the text including valuing the book of business, synergistic value, balance sheet and fixed asset value, key factors affecting value, methods of calculating agency value, and who should do the valuation. All of the exhibits included in this publication are available via a CD or digital file download.

Critical Factors Impacting Agency Value
https://nationalalliancebooks.com/
Research study identifies the critical factors that independent insurance agency owners think are the most important in affecting agency value and provides benchmark data for these factors that agency owners and managers can use in comparing their agency to other similar agencies in terms of focus, size, and location in developing and implementing strategies for enhancing the value of their agency.

BVR Guides & Books
What It's Worth: Valuing Insurance Agencies
https://www.bvresources.com/

BVR special report features insights on how these firms operate, the nature of their revenue streams, industry environment, risks involved, value drivers, and other relevant factors, as well as advice from experts in the field, and on the quantitative side includes transaction multiples, pricing rules of thumb, and financial ratio benchmarks. Introduction and detailed table of contents can be viewed free online.

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