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Description

Homeowners & Preferred Insurance Agency Book Reaps Consistent Profits! –
Irvine, CA – (Orange County)
Seller Financing Available!
Zip Code: 92618

  • Asking Price: $1,050,000
  • Cash Flow: $298,154
  • Gross Revenue: $378,292
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Established: 2010

Business Description

Independent homeowner’s agency for sale – this will go quick!

Excellent book with very strong retention. With over 1,700 policies in force with 54% Homeowners and 46% Preferred Personal Lines and 90%+ retention every month. 75% of book has been with agency for 5-15 years!

Home and personal total premium is $2.224MM. Company works with 34 premium carriers with Mercury covering 37% of policies. Overhead can be reduced as the agency currently has three employees but can be run with one. Perfect opportunity for an established agency to add grow inventory of homeowner policies to their book of business.

NDA is required to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.

Detailed Information

  • Employees: 1.5
  • Facilities: To achieve quoted net income, would have to be a “rollup” into an existing agency that absorbed all costs other than salaries for a senior account manager. Full recast available in the CIM after we secure the Buyer’s NDA.
  • Competition: Full Service agencies that service referrals, but the owners have entrenched themselves firmly in this market with their strategic presence in the real estate mortgage market.
  • Growth & Expansion: Carrier bonuses for new owner who adds to their current book of business. Very stable book with much room to expand and grow.
  • Financing: If the price and deal structure is right.
  • Support & Training: 2 weeks, 20 hours per week. This is a renewal book that’s on auto-pilot.
  • Reason for Selling: Sellers want to focus on primary business, one partner relocating.

Industry Overview:

The US insurance agencies and brokerages industry includes about 134,000 establishments (single-location companies and units of multi-location companies) with annual revenue of about $130 billion.

Strong Brand Recognition – Agencies that represent trusted insurance brands have a greater chance of attracting and retaining customers. Agencies gain contracts to promote policies from recognizable names such as Progressive, Travelers, The Hartford and MetLife. Representing well-thought-of brands can help agents bring value to clients with strong policies, support tools, and referral networks.

Insurance products sold by agents and brokers include property and casualty (P/C), health and medical, and life. About 60% of industry revenue comes from commissions on property and casualty insurance, evenly split between commercial and personal lines. Commissions on medical insurance account for about 15% of industry revenue, and life and accident insurance commissions account for another 10%. Other types of insurance sold by agents and brokers can include annuities and title insurance.

Product Segmentation by Revenue – Census Bureau

Contact info

Rick Carlson
Rick Carlson

Inquire about this property

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