InsuranceYak.com

Insurance Agency purchase discussion. 

Q: - lets say you have an opportunity to pick up an independent insurance agency (that uses a highly recognizable underwriter’s name) that already has a book of business of approx 3500 mixed policies, would this be lucrative? Could you estimate?

A:  The opportunity is intriguing; A large or profitable agency is going to come at a price. The million dollar question: is the price too high? You didn’t mention how much premium is generated by the 3500 policies, so we’ll look at some other factors.

Any agency undergoing change is going to experience some run-off of existing business.  To estimate how much will run off I’d do analysis by first breaking down the book of business:

Personal lines vs. commercial lines and access to both.
Preferred market vs. standard (or high risk) and again access. (Read the rest of the entry…)

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