Business Summary

This well-established insurance agency for sale is located in Mobile, AL has now been in business for over 65 years! The firm currently has one producer and one CSR. The CSR has over 18 years of experience at the agency and knows most all of the insureds, which has helped keep renewal retention close to 95% over the past couple of years.

Over 85% of the agency s book of business is with admitted carriers such as Hartford, Harleysville, CNA and Travelers. The remaining 15% is mostly on property insurance, which is common due to most standard carriers not willing to write property along the Gulf Coast. The book is also well diversified with no single insured accounting for more than 1 to 2 percent of the business.

This P&C book of business consists of 85% commercial and 15% personal lines. The agency has access to 60+ carriers through its strategic membership with a national marketing and agency alliance. The alliance provides the agency with exclusive agreements, top level commissions and profit sharing with no minimum premium requirements, as well as regional and national override programs. This valuable membership would be transferable to a new business owner.

In 2008 and 2009 the agency examined each policy and cleaned up their book. Since this time their average loss ratio has been less than 20%. Close to 95% of the insureds are direct billed.

The agency does not have a website, which means new business could be increased by creating a web presence. The office is located in a commercial office building that provides no walk-in customers. The seller owns the building, which means a buyer could move the agency to a more strategic location to attract walk-in customers. Also, with only one CSR most existing agencies could easily fold the organization into its existing office, which would greatly decrease overhead and lead to more profit!

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