| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues (% by Source) |
| Commercial
Lines |
45.4% |
42.5% |
43.0% |
| Bonds |
1.0% |
0.4% |
0.4% |
| Personal
Lines |
23.5% |
29.6% |
25.4% |
| VAS
– P&C |
0.6% |
0.4% |
0.0% |
| Contingent/Bonus |
7.6% |
8.1% |
7.9% |
| Group
Medical |
12.7% |
11.9% |
12.8% |
| All Other Group L&H |
3.4% |
3.0% |
2.1% |
| Individual L&H |
3.6% |
2.0% |
6.6% |
| Bonus/Overrides |
0.8% |
0.8% |
1.0% |
| Investments |
0.5% |
0.2% |
0.6% |
| Miscellaneous |
0.9% |
0.5% |
0.1% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.4% |
0.6% |
3.9% |
| Net
Revenues |
98.6% |
99.4% |
96.1% |
| Expenses (as % of Net Revenues) |
| Compensation |
66.5% |
59.4% |
66.6% |
| Selling |
3.2% |
2.6% |
3.3% |
| Operating |
13.9% |
11.5% |
11.8% |
| Administrative |
3.6% |
1.9% |
3.5% |
| Total
Expenses |
87.1% |
75.5% |
85.1% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profit/Loss (as % of Net Revenues) |
| Pre-Tax
Profit |
12.9% |
24.5% |
14.9% |
| Pro
Forma Pre-Tax Profit1 |
17.6% |
31.0% |
19.8% |
| Operating
Pre-Tax Profit2 |
3.7% |
14.9% |
5.0% |
| EBITDA3 |
16.3% |
26.2% |
17.3% |
| Pro
Forma EBITDA4 |
21.0% |
32.7% |
22.2% |
Definitions:
- Pro
Forma Pre-tax Profit is Pre-tax Profit if discretionary
expenses are eliminated and all owners compensated
as employees
- Operating Pre-tax Profit is Pre-Tax Profit
excluding income from contingents, bonus and investment
income
- EBITDA is Earnings Before Interest Taxes Depreciation
and Amortization
- Pro Forma EBITDA is EBITDA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
