Banking & Financial
Insurance Agency Overview:
- Couple hundred clients with a couple hundred policies in force – primarily commercial insurance, but some personal lines and a small slice of group health as well.
- Seller is retiring, about 75% commercial business with 90% retention.
- For the Commercial business, 50% is through MGA & 50% Direct via Travelers, Amtrust, KBIC all being direct.
- Writing all kinds of wholesale, distribution, light manufacturing, contractors, LRO’s, retail – individual & multi-unit, the gamut of commercial risks basically.
- $285k is commission revenue
- $85k is broker fee revenue