Selling Non-Standard P&C Agency and Book of Business Texas

[SmilingAgent]

I was hoping I could get some helpful information on selling A Non-Standard P&C Agency and book of business in Texas. Like how would one go about pricing their agency? Does the multiple of one to two times commission still hold true, & if so how to know what # is appropriate. Does one charge for their name? How to best find buyers? I have an agency I started 25 years ago, but due to failing health must sell. Any Information you could offer would be greatly appreciated.

 

[tarobhap]

Smiling agent ...I'm an agent in Texas. I'd be interested looking into your book. Lets talk. Email me at [email protected]

 

[SmilingAgent]

Thank you for your interest, but I really need answers to my questions before I will be prepared to speak with anyone. I was really hoping to find answers here. Where you from in Texas?

 

[Bertolinoins]

Nobody can answer your questions without a lot of information. You should seek out and interview a few agency brokerage consultants.

 

[tarobhap]

Thank you for your interest, but I really need answers to my questions before I will be prepared to speak with anyone. I was really hoping to find answers here. Where you from in Texas?

I am in Dallas, TX. What exactly is your non standard book comprised of.

 

[nyc2phi]

There are a lot of factors that contribute to your questions.

What is rentention like ?
How is your loss ratio?
What is the percentage of home, auto, & commercial do you have?

Without knowing some of this stuff it is hard to say.

 

[DivineFoodie]

I was hoping I could get some helpful information on selling A Non-Standard P&C Agency and book of business in Texas. Like how would one go about pricing their agency? Does the multiple of one to two times commission still hold true, & if so how to know what # is appropriate. Does one charge for their name? How to best find buyers? I have an agency I started 25 years ago, but due to failing health must sell. Any Information you could offer would be greatly appreciated.

You may want to check out the site, AgencyEquity (I think that's it). There is information on there regarding purchasing of agencies, etc. I believe there are names/websites of companies that review these type of deals and make recommendations for buying and selling.

I don't know much about it, but you also may want to check with the companies that loan money to agencies. I would imagine that they could provide a hi-level view of what you may need to look at...I could be wrong, but it's worth a try if you are trying to get valuation(s) to sell your business.

Best of luck, and sorry about the health issues. Be well.

 

[SmilingAgent]

I am in Dallas, TX. What exactly is your non standard book comprised of.

My book of business is comprised mostly of personal auto, but also includes some Homeowners, MC, Travel Trailers, Bonds, Commercial Auto and Buildings.

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You may want to check out the site, AgencyEquity (I think that's it). There is information on there regarding purchasing of agencies, etc. I believe there are names/websites of companies that review these type of deals and make recommendations for buying and selling.

I don't know much about it, but you also may want to check with the companies that loan money to agencies. I would imagine that they could provide a hi-level view of what you may need to look at...I could be wrong, but it's worth a try if you are trying to get valuation(s) to sell your business.

Best of luck, and sorry about the health issues. Be well.

Thank you very much for your time, effort, & compassion. I will sure look into the information you gave me.

 

[rudy323]

In Texas as far as I know for non standard, it is 1 to 1.3ish your annual commission + fees

 

[DivineFoodie]

You are very welcome, SmilingAgent, I wish I could be of more help. While I've been in the insurance industry for sometime, there is a LOT I don't know. Buying an agency is definitely something I am not familiar with, but I am learning more and more; especially from being on this site.

Keep us posted on what you find out. All the best to you.