Insurance Agency with Multiple Locations, 96% Client Retention Rate*

Southeast-based insurance agency with multiple locations throughout the state. It represents many of the top insurance companies in the country, offering full-spectrum insurance products to companies and individuals at competitive rates. The company has grown steadily over (15%-20% / year in volume, agents, and revenue) the last two decades, and in 2021, they generated $1.9M in revenue; as of Aug 2022, the insurance premiums have a value of $19.5M (9,943 policies) while the portfolio distribution is around 77% personal lines and 23% commercial lines. Team: The company is owned and operated by the founding owner. The team comprises 1 Vice President, 1 Office Manager, 1 IT Manager, and a pool of independent sales agents (1099s). Services and Clients: The company serves both individual and commercial clients with its full-spectrum insurance offerings. It has a client base of close to 7,500 clients and close to 10,000 active policies making an average policy of 1.33 per customer. They have access to a large pool of top insurance underwriters that can provide full-spectrum cost-efficient coverage for various insurance needs (e.g., Life, Auto, Property, Commercial, etc.). Reason for Selling: The owner wants to retire and focus on spending more time with his family. Transition Support: The current owners are willing to fully assist the buyers in the transition period and will consider serious offers for advisory support. Competitive Differentiators: They offer broad access to a wide array of insurance underwriters, pay higher commissions to their agents, and offer additional tailored support (e.g., lead and referral program, expenses support). The company has a Unique Aid System for its agent to help give them leads and identify the companies that underwrite the specific insurance the agent is looking to sell. Growth Opportunities: The company has planned to start a virtual agent base by January 2023, which will minimize the expenses for the agents. It also plans to hire more 1099 agents and open locations nationwide by partnering with other companies in its network. By investing more in marketing (storefront ads, social media, general advertising campaigns), the company could see significant growth in both commercial and individual portfolios.