Medical Device
SOLD ‘Q2 2022
California Mercury Insurance Book of Business for Sale
Los Angeles, CA (Los Angeles County)
Asking Price: $900,000
Cash Flow: $214,935
Gross Revenue: $298,327
EBITDA: see CIM
FF&E: Included
Inventory: N/A
Established: 2001
Employees: 2
Carriers: Mercury, Travelers, Kemper, National General, and others
Business Description
Approx 1150 policies in force and close to $2.4MM in premiums. Nearly 70% of commission income comes from Mercury and represents preferred personal lines – home and auto. There is a small percentage of nonstandard auto, some commercial lines and group health.
Seller has been pulling back from operating this business for a few years now, and the two employees run the day to day. Seller is ready to retire from insurance and seeks a Buyer who is appointed with Mercury to take over the Business. Excellent roll up opportunity for a Buyer who can continue to take care of these clients and who can offer additional products as well.
NDA is required {SUBMIT BELOW} to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Detailed Information
Facilities:
882SF office in the San Fernando Valley that is on a month-to-month lease. Rent is $2526 per month. All FF&E can be included with the sale if desired.
Competition:
Competition among insurance agencies and among carriers in Los Angeles is highly fragmented. Mercury offers very competitive rates in preferred personal lines, and
clients tend to stay with Mercury for a long time as those rates are hard to beat.
Growth & Expansion:
This book really hasn’t been worked for cross selling or upselling in a long time – so there will be some opportunity there for a Buyer who knows how to do this well and who has additional products they can offer to these customers.
Financing:
Cash Sale preferred – but make an offer and the Seller will evaluate terms on a case by case basis.
Support & Training:
Reasonable transition terms to be negotiated to ensure a smooth transfer of the book of business to the Buyer
Reason for Selling:
Leaving insurance and pursuing other business and personal interests
SOLD-SoCal Mercury Insurance Book of Business for Sale
