Although profitability remains strong among the U.S.'s top-performing independent agencies, challenges lie ahead in the form of slower revenue growth, shifts in workplace demographics, and a decrease in the "Rule of 20" rate, which measures an agency's value creation for its shareholders.
The findings come from the IIABA and Reagan Consulting's 2014 Best Practices Study. This year's version marks the 22nd anniversary of the study, which was first conducted 1993.
The study provides the compiled year-end results of the country’s top-performing independent insurance agencies in six revenue categories, ranging from less than $1.25 million to more than $25 million. Numbers are based on 12/31/13 FYE results, although 10% of the participating firms submitted data based on fiscal year-ends within the first two quarters of 2014.
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