| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues (% by Source) |
| Commercial
Lines |
43.8% |
38.4% |
37.8% |
| Bonds |
0.9% |
0.6% |
0.4% |
| Personal
Lines |
39.7% |
45.1% |
50.1% |
| VAS
– P&C |
0.7% |
0.0% |
2.3% |
| Contingent/Bonus |
6.2% |
6.1% |
5.4% |
| Group
Medical |
5.5% |
5.2% |
1.3% |
| All Other Group L&H |
0.2% |
0.2% |
0.1% |
| Individual L&H |
2.6% |
4.3% |
2.2% |
| Bonus/Overrides |
0.1% |
0.1% |
0.0% |
| Investments |
0.1% |
0.0% |
0.0% |
| Miscellaneous |
0.1% |
0.0% |
0.3% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.1% |
0.1% |
0.0% |
| Net
Revenues |
99.9% |
99.9% |
100.0% |
| Expenses (as % of Net Revenues) |
| Compensation |
55.6% |
43.9% |
49.3% |
| Selling |
4.7% |
4.0% |
5.0% |
| Operating |
17.5% |
14.6% |
16.5% |
| Administrative |
1.9% |
0.6% |
0.1% |
| Total
Expenses |
79.6% |
63.1% |
70.9% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profit/Loss (as % of Net Revenues) |
| Pre-Tax
Profit |
20.4% |
36.9% |
29.1% |
| Pro
Forma Pre-Tax Profit1 |
26.0% |
44.6% |
27.6% |
| Operating
Pre-Tax Profit2 |
10.8% |
22.4% |
12.3% |
| EBITDA3 |
22.8% |
37.55 |
29.6% |
| Pro
Forma EBITDA4 |
28.5% |
45.2% |
28.2% |
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
|
|
