Looking for a buyer.
Confidential Information Memorandum (CIM) available upon receipt of our short online NDA - visit here: https://pronovapartners.com/engagement/prominent-louisiana-commercial-insurance-agency-for-sale/ Prominent commercial insurance business created in the 1950s by one of its namesakes has been a fixture in its northwest Louisiana city and community ever since. One of the two partners was new to insurance and the other had been an employee for more than 30 years. That partner was key to continuing the level of trust needed to retain long-term customers. The pair has grown the agency since its acquisition and sees excellent opportunities to maintain and grow the business further thanks to those long-established relationships and multigenerational customers. The Agency’s book of business is very diverse thanks to the ability to access several major markets. A good bit of surplus lines policies are written as well. 2117 policies create premiums that range in value from 5,000 to 500,000. The Agency works with 34 appointments. Six - that create more than half the annual revenue - are direct market premiums, totaling more than $3.2 Million in###-###-#### Carriers include Bankers, Foremost, Hanover Group, Kemper, Liberty Mutual, National General, Progressive among many others based on which carrier fits the risk the best. Commercial policies make up 75% of business while Personal Lines comprise 25%. In 2021, an outstanding year following Covid shutdowns in the State, the top 13 carriers alone brought over $550,000 in commissions. Due to the number of long-term and dedicated employees, the Sellers are not interested in an acquisition in which the employees will be terminated. One of the selling partners would like to remain with the business and the acting general manager is popular with customers and an asset to the operation. The Sellers firmly believe that resulting damage to client relationships would be detrimental to the book’s value. NDA is required {LINK ABOVE} to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners. Detailed Information Facilities: The Company operates from a commercial space in a business-oriented strip mall. It has been at this location for many years. In the coming months, the agency will move to a smaller space in an up-and-coming neighborhood for a reduced rental rate of $2500 per month. Although the agency sees little foot traffic the new location and signage are likely to increase brand exposure. Competition: Years of reliable service to the business community have made the agency a top-choice and first-call for many. The Seller says business has not been affected by online competition due to strong relationships primarily with its mid to upper-class clientele. Commercial policies are more complex and relationship-driven. Growth & Expansion: Hiring experienced producers and expanding marketing efforts would spur additional growth. Due to the heavy concentration of commercial policies, offering new lines and seeking crossover opportunities would grow the value of the book. Financing: TBD only for highly qualified Buyers for a short term if deal structure and conditions are acceptable. Support & Training: To ensure a smooth transition and ongoing success the Sellers will work with a Buyer as needed. Reason for Selling: One of the two partners has another business demanding his time.

listing type
exclusive representation
industry
Insurance
location
Shreveport, LA, USA
revenue
$709,000
ebitda
$292,000
proposed price
$2,100,000
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