Outstanding OC Independent Commercial Agency

Business Overview:

This 16-year-old commercial-focused agency was started by an individual who brought in a partner in 2012 to manage and develop the Property and Casualty division. This division grew from $600,000 in Premium to $6,500,000, more than 1,500 policies, and nearly $875,000 in annual commissions and fees.

Contractors are the Agency’s Commercial Market niche, representing 65% of their Commercial policies. These include General Liability, Excess Liability, Commercial Auto, and Worker’s Comp.

Personal Lines account for 35% of the policies.

Several top carriers are offered via the Smart Choice Cluster which accounts for $1.8M of total premium. The ability to transfer the cluster relationship to a Buyer is pre-approved. This means potential Buyers do not require existing appointments with Mercury, Travelers, Liberty Mutual, Guard, and others. The contract fee is grandfathered in which is subtracted from monthly commissions. Income reports reflect this expense. There is nothing extra to be paid.

The Seller currently manages all aspects of the Business including administrative roles (payroll, invoicing, audits, agency staff hiring, training, and management) and all accounting and financial tasks including customer payments, carrier payments, QuickBooks, etc.

The Seller personally manages $4M in commercial premiums with the help of one assistant account manager and one part-time commercial account manager. She also assists the Personal Lines Account Manager as needed to place business, and set up new appointments. Those accounts bring in $2M in premiums.

NDA is required to secure the comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.

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Property Features and Assets:

Facilities: Operations are based in a professional office complex. The lease runs through December and may be extended should a buyer benefit from the central OC location.

Market Competition and Expansion:

Competition: Commercial Insurance is competitive, but they are experts in their specialty niche and business is growing.

Growth & Expansion: Suggestions include researching other related niches and cross-selling other insurance options.

Maintain Referral Partners to include Lenders, Captive Agents, Property management Companies, customer referrals, etc. who refer a significant amount of Business.

Reason for Selling:

Additional Details:

Documents:

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