Insurance Agencies and Brokers

• Market size, product segments, and major markets
• Key industry trends, statistics, 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 trade publication features news and information for commercial insurance brokers and insurance company executives, with topics covered in each issue including management tools and tips, market reviews, mergers and acquisitions, technology trends, and legal and regulatory issues, and special features including the annual "M&A Executive Report". Current and prior digital editions of the magazine are available online.

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

IA Magazine
https://www.iamagazine.com/
Monthly publication features news and information for independent agents and brokers, with topics covered including agency management, market trends, sales strategies, new products and technology, and legal and regulatory issues. Selected articles from current and prior issues of the magazine can be viewed free online.

Agency Universe Study
https://www.independentagent.com/
Biennial study provides a comprehensive analysis of the independent agency system, with topics covered including number of firms, revenue sources, business mix, product diversification, employee staffing levels, agency ownership, technology usage, and marketing methods. Table of contents can be viewed free online.

Marsh, Berry & Company, Inc.
Annual Market & Financial Outlook Survey
https://info.marshberry.com/marketfinancialoutlook
Annual survey analyzes agent and broker performance trends by firm revenue size and geographic region, with topics covered in the survey including P&C premium rate changes, commission income growth rates, non-commission income trends, operating expense trends, anticipated changes in staffing levels, planned salary increases, and more. Executive summary can be downloaded and viewed free online with registration.

BizMiner
Market Analysis
https://www.bizminer.com

Market analysis report provides 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.

Industry Financial Ratios
Insurance Agencies and Brokers
https://www.bizminer.com  Search for "524210"

• 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

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

Annual best practices study provides financial and operating benchmarks for six annual revenue categories ranging from under $1,250,000 to over $25 million, with benchmark categories covered in the study including agency profiles, revenues, expenses, profitability, employee overview, producers, service staff, technology, and insurance carriers. Prior year results and Excel-based comparison worksheet are available free online.

The National Alliance for Education & Research
Growth and Performance Standards
https://nationalalliancebooks.com/
Independent agency survey provides "average" and "best performing" (top 25%) comparative benchmarks for income and expenses, balances sheet ratios, and productivity measures, with survey results broken out by agency size based on annual revenues, focus on commercial or personal lines, and market area population. Detailed table of contents, introduction, and other selected excerpts from the study can be previewed online.


Marsh, Berry & Company, Inc.
Agency Compensation Trends
https://info.marshberry.com/agencycomp
Biennial compensation survey provides salary, bonus, commission, and benefits information for executive and management personnel, commercial and personal lines producers, customer service representatives, human resources consultants, and support staff, with survey results broken out by local market area population into rural (market area population < 10,000) and suburban/urban (market area population > 10,000) categories.

The National Alliance for Education & Research
Producer Profile: Compensation, Production, and Responsibilities
https://nationalalliancebooks.com/
Chapters 5 and 13 of this study provide compensation data for commercial and personal lines producers broken out by age, insurance sales experience, agency size, agency location, professional designation, and educational level, and also include information on methods of compensation, bonuses, commission rates, and fringe benefits. Detailed table of contents and other selected excerpts from the study can be previewed online


The Council of Insurance Agents & Brokers
M&A Executive Report
https://www.leadersedge.com/
Annual mergers and acquisitions report includes information on transaction volume trends, acquirers by type, most active acquirers, deal pricing and structure, and guaranteed, realistic earn-out, and maximum earn-out purchase prices for platform, stand-alone, and roll-in transactions in terms of EBITDA multiples. Full report is included as a supplement to the May issue of Leader's Edge Magazine and can be viewed free online.

Empire Valuation Consultants, LLC
Determining Agency Value
http://www.empireval.com/
Six-part series of articles originally written for PIA Magazine discusses key factors to be considered in valuing an independent property and casualty agency, with topics covered in individual articles including normalizing the agency's income statement, determining an agency's earnings capacity, valuation methods commonly used in valuing agencies, and arriving at a final conclusion of value. All articles are available free online.

The National Alliance for Education & Research
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 an agency, with Chapter 6 addressing topics such as valuing the book of business, synergistic value, balance sheet and fixed asset value, key factors affecting value, methods of calculating an agency's value, and who should do the valuation. Detailed table of contents, introduction, and other selected excerpts from the guide can be previewed online.

Critical Factors Impacting Agency Value
https://nationalalliancebooks.com/
Research study focuses on understanding the critical factors that contribute to the value of an agency and identifying and implementing strategies which will positively impact value, with chapter topics including owner interviews, analyzing the critical factors, areas of analysis, challenges and rewards, and critical factor trends. Detailed table of contents, introduction, and other selected excerpts from the study can be previewed online.

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