Insurance Agencies and Brokerages - Market Size, Financial Statistics, Industry Trends
Insurance Agencies and Brokerages Market Size
This report includes historical and forecasted market sizes and industry trends for Insurance Agencies and Brokerages. It reveals overall market dynamics from 2020 through the present, and predicts industry growth or shrinkage through 2030. Revenue data include both public and private companies in the Insurance Agencies and Brokerages industry.| Historical | Forecasted | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | |
| Market Size (Total Revenue) | Included in Report |
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| % Growth Rate | |||||||||||
| Number of Companies | |||||||||||
| Total Employees | |||||||||||
| Average Revenue per Company | |||||||||||
| Average Employees per Company | |||||||||||
Industry Revenue ($ Billions)
Industry Forecast ($ Billions)
Pell Research's advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size statistics include revenue generated from all products and services sold within the Insurance Agencies and Brokerages industry.
Geographic Breakdown by U.S. State
Insurance Agencies and Brokerages market share by state pinpoints local opportunities based on regional revenue statistics. Growth rate for each state is affected by regional economic conditions. Data by state can be used to locate profitable and nonprofitable locations for Insurance Agencies and Brokerages companies in the United States.Industry Revenue by State [Sample]
Distribution by Company Size
| Company Size | All Industries | Insurance Agencies and Brokerages |
|---|---|---|
| Small Business (< 5 Employees) | Included |
|
| Small Business (5 - 20) | ||
| Midsized Business (20 - 100) | ||
| Large Business (100 - 500) | ||
| Enterprise (> 500) | ||
Industry Income Statement (Average Financial Metrics)
Financial statement analysis determines averages for the following industry forces:- Cost of goods sold
- Compensation of officers
- Salaries and wages
- Employee benefit programs
- Rent paid
- Advertising and marketing budgets
The report includes a traditional income statement from an "average" Insurance Agencies and Brokerages company (both public and private companies are included).
| Industry Average | Percent of Sales | |
|---|---|---|
| Total Revenue | Included |
|
| Operating Revenue | ||
| Cost of Goods Sold (COGS) | ||
| Gross Profit | ||
| Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| Earnings Before Interest and Taxes (EBIT) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit | ||
Average Income Statement
Cost of Goods Sold
Salaries, Wages, and Benefits
Rent
Advertising
Depreciation and Amortization
Officer Compensation
Net Income
Financial Ratio Analysis
Financial ratios allow a company's performance to be compared against that of its peers.| Financial Ratio | Industry Average |
|---|---|
| Profitability Ratios | Included |
| Profit Margin | |
| ROE | |
| ROA | |
| Liquidity Ratios | |
| Current Ratio | |
| Quick Ratio | |
| Activity Ratios | |
| Average Collection Period | |
| Asset Turnover Ratio | |
| Receivables Turnover Ratio | |
| Inventory Conversion Ratio |
Products and Services Mix
Product lines and services in the Insurance Agencies and Brokerages industry accounting for the largest revenue sources.| Product Description | Description | Revenue ($ Millions) |
|---|---|---|
| Industry total | Included |
|
| Insurance brokerage and agency products - commissions | ||
| Property & casualty insurance - commercial lines - commissions | ||
| Property & casualty insurance - personal lines - commissions | ||
| Health and medical insurance - commissions | ||
| Life and accident insurance - commissions | ||
| Annuity insurance - commissions | ||
| Other insurance brokerage & agency products - commissions | ||
| Other products related to insurance | ||
| Title insurance - commissions | ||
Compensation and Salary Surveys
Salary information for employees working in the Insurance Agencies and Brokerages industry.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% |
Included |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 11% | |||
| Business Operations Specialists | 6% | |||
| Sales and Related Occupations | 37% | |||
| Sales Representatives, Services | 35% | |||
| Insurance Sales Agents | 35% | |||
| Insurance Sales Agents | 35% | |||
| Office and Administrative Support Occupations | 43% | |||
| Information and Record Clerks | 16% | |||
| Customer Service Representatives | 15% | |||
| Customer Service Representatives | 15% | |||
| Secretaries and Administrative Assistants | 5% | |||
| Secretaries and Administrative Assistants | 5% | |||
| Other Office and Administrative Support Workers | 16% | |||
| Insurance Claims and Policy Processing Clerks | 11% | |||
| Insurance Claims and Policy Processing Clerks | 11% | |||
Government Contracts
The federal government spent an annual total of $22,068,760 on the Insurance Agencies and Brokerages industry. It has awarded 657 contracts to 56 companies, with an average value of $394,085 per company.Top Companies in Insurance Agencies and Brokerages and Adjacent Industries
| Company | Address | Revenue ($ Millions) |
|---|---|---|
Included |
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