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70% Commercial 30% Personal Insurance Agency

Location  California,United States
Asking Price Range  $1.0M - $2.5M
Gross Revenues  $511000
Net Profit / Cash Flow  $250000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  2000
Number of Employees  4 - 5
Relocatable  Yes
Number of Employees  4 - 5
Real Estate  Leased
Training  8 weeks, 20 hours per week.
Reason for Sale  Loss of major carrier appointment, represents 20% of agency book value.
Description  Carriers include Hartford, Allied, Progressive, Travelers, Mercury, Anthem Blue Cross, Kaiser, and quite a few GA's that the balance of the book is distributed with according to the individual client's needs/rates. 70% commercial, 25% personal lines and about 5% health. Has AMS 360 agency management system that breaks it down very clearly. Tracking for approximately $3.3MM in premium for FY 2012, 2011 was at $3.2MM premium. Average commission across all carriers around 13.2%, only $75k broker fee revenue, the rest is commission revenue. This book is portable and not tied to the location as the customers hardly ever visit or interact with the staff on a face to face basis. Ideal roll-up acquisition target for existing larger agencies with plenty of bandwidth. The current staff is performing well and everyone wants to stay except the owners (2 - it's an S-Corp), but a firm seeking a higher ROI could yield significant cost savings if the staff is let go and the book is ported into a larger operation with minimal ancillary fixed costs tied to the firm. 2 office locations, one in the Bay area and one in Southern California. They do business state-wide in California, so could be a national player with a California presence or any California firm. Top rankings on the search engines so this firm will continue to grow organically for any Buyer. Current losses with one of the major carriers the company is appointed with is the sole reason prompting the sale of this diversified book of business. The Sellers purchased this agency in 2008 and a series of losses prior to them taking possession, in addition to normal claims during the course of their ownership tenure in the last 4 years, has resulted in ONE carrier terminating the relationship with the Agency. Therefore, rather than risking losing the clients and/or not being able to re-write them elsewhere, it's time for a change and the Sellers are interested in pursuing other ventures. NDA is required.
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