In the market right now, prospective buyers are not determining the price they will pay for an agency based on revenue alone, but instead on earnings before interest, taxes, depreciation, and amortization (EBITDA).
Growing up in a family where insurance was a topic of conversation at the dinner table, Andrews’ future in insurance was written in the stars.
The increase in catastrophic events and higher loss ratios has the potential to significantly impact agencies’ profit sharing, revenue, carrier appointments and other valuation factors.
A survey from Reagan Consulting examined how earn-out structure has evolved and why sellers have been achieving better post-closing results.
While getting a valuation before you sell is critically important, waiting until the last minute may be too late to implement the changes and overcome weaknesses to significantly improve value.
On this episode of Agency Nation Radio, Jessica Mulder, operations manager of Perspective Insurance in Sioux Center, Iowa, reflects on how she played a role in the purchase of three agencies in one year.
Though it may be impossible to control the external economic environment, it is possible to control whether or not your agency grows—and if that growth contributes to the top or bottom line.
By: Agency Nation At the beginning of her career, Kristine Rushing, who is now co-owner and risk consultant at Rushing Insurance in Pensacola, Florida, interviewed with a bank and an insurance agency. The insurance agency was the first one to offer her a job—and so her insurance career began. “When I was able to take…
On this episode of Agency Nation Radio hosted by Harrison Brooks, partner at Reagan Consulting, Doug Smart, president, and Kyle Becker, vice president, from Smart Insurance in Abeline, Kansas discuss independent insurance agency ownership transitions.
If you’re buying an agency, these characteristics are important to understand to ensure you don’t overpay. If you’re a seller, knowing these characteristics before going to market allows you to maximize your deal.
