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The Insurance Agencies & Brokerages Industry report, published annually by Barnes Reports, contains timely and accurate industry statistics, forecasts and demographics. The report features 2010 current and 2011 forecast estimates on the size of the industry (sales, establishments, employment) nationally and for all 50 U.S. States and over 900 metro areas. New to the report this year are: financial ratios, number of firms and payroll estimates. The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment, a breakdown of establishments, sales and employment by employee size of establishment (9 categories), and estimates on up to 10 sub-industries, including insurance consulting, insurance adjusters, pension planning, and retirement planning.
BReports ARNES Insurance Agencies & Brokerages Industry (NAICS 52421) n Market Reports n Industry Trends n Demographic Data Edition 2010 © C. Barnes & Co. Insurance Agencies & Brokerages Industry (NAICS 52421) TABLE OF CONTENTS Users' Guide Industry Definition and Related Industries Sub-Industries - 2009 Estimated Industry Sales ($Millions) Sub-Industries - 2009 Estimated Number of Establishments Sub-Industries - 2009 Estimated Number of Employees 5-Year Trend - Estimated Industry Sales ($Millions) 5-Year Trend - Estimated Number of Establishments 5-Year Trend - Estimated Number of Employees 2010 U.S. States - Estimated Number of Establishments 2010 U.S. States - Estimated Industry Sales ($Millions) 2010 U.S. States - Estimated Number of Employees 2011 U.S. States - Estimated Number of Establishments 2011 U.S. States - Estimated Industry Sales ($Millions) 2011 U.S. States - Estimated Number of Employees 2010 U.S. Metropolitan Areas - Estimated Number of Establishments 2010 U.S. Metropolitan Areas - Estimated Industry Sales ($Millions) 2010 U.S. Metropolitan Areas - Estimated Number of Employees 2011 U.S. Metropolitan Areas - Estimated Number of Establishments 2011 U.S. Metropolitan Areas - Estimated Industry Sales ($Millions) 2011 U.S. Metropolitan Areas - Estimated Number of Employees Definitions and Terms © 2010 Barnes Reports: U.S. Insurance Agencies and Brokerages Industry 1 Insurance Agencies & Brokerages Industry (NAICS 52421) USERS' GUIDE The Barnes Reports are the leading publications on U.S. industries and estimates and forecasts on sales and employment demographics. As a way of making the most of this information, we have included a few suggestions and tips to aid you in processing and using this information. Managers, planners, and market researchers use this information for a variety of activities: • Sizing markets and segments – You can estimate the size of the regional markets you sell in and your company’s market penetration into that market. You can do the same with the market segments in which you participate. • Sales territory potential – You can estimate your market penetration and also the market potential in any regional area or market segment. • Sales forecasting – With the estimates on the size of the industry, market researchers supporting a sales force can then estimate and forecast the future size of the industry. • Advertising strategies – You can use this information for forecasting and estimating sales potential and target advertising campaigns. • Competitive analysis – You will use the information to locate your possible competitors (if it is not already known), to estimate their size, growth and strengths and weaknesses and to see what market segments in which they participate. We recognize that many managers today are asked to provide detailed analysis of their markets, sales territories, distribution channels, and product placements. We have organized these reports in a logical format making your market analysis and research tasks easy to accomplish. Copyright © 2009 By C. Barnes & Co. Printed in USA All rights reserved. This publication may not be reproduced, stored in any information or retrieval system or transmitted in whole or in part, in any form or by any means - electronic, mechanical, photocopying, recording or otherwise - without the express written permission of C. Barnes & Co. Note: Every effort has been made to verify and ensure the accuracy of the information within this publication. However, if any errors exist in this publication C. Barnes & Co. disclaims any liability for any loss or damage to any party as a result of the information or errors in this publication. © 2010 Barnes Reports: U.S. Insurance Agencies and Brokerages Industry 2 Insurance Agencies & Brokerages Industry (NAICS 52421) Industry Definition and Related Industries NAICS 52421: Insurance Agencies & Brokerages. This industry comprises establishments primarily representing one or more insurance carriers, or brokers not representing any particular carriers primarily engaged as independent contractors in the sale or placement of insurance contracts with carriers, but not employees of the insurance carriers they represent. This business also includes independent organizations concerned with insurance services. Related Industries Mortgage Bankers Healthcare Services Hospital Services Abulatory Services U.S. Census Categories NAICS 52421 – Insurance Agencies & Brokerages is almost comparable to: 78% of SIC 6411 – Insurance Agencies Sub-Industries Insurance agents, brokers, and service Insurance agents and brokers Insurance information and consulting services Insurance agents, nec Advisory services, insurance Insurance brokers, nec Education services, insurance Life insurance agents Information bureaus, insurance Real estate insurance agents Pension and retirement plan consultants Property and casualty insurance agent Policyholders' consulting service Title insurance agents Insurance adjusters Other insurance services Insurance claim adjusters, not employed by insurance company © 2010 Barnes Reports: U.S. Insurance Agencies and Brokerages Industry 3 Insurance Agencies & Brokerages Industry (NAICS 52421) Industry Establishments, Sales & Employment Trends Year 2009 138,698 162,972 942,758 2007 Establishments Sales ($Millions) Employment 135,879 144,910 903,883 2008 138,289 163,226 940,090 2010 140,726 172,280 956,613 2011 142,574 183,169 969,183 Percent Chg. Year-to-Year 07-08 08-09 09-10 10-11 1.8% 12.6% 4.0% 0.3% -0.2% 0.3% 1.5% 5.7% 1.5% 1.3% 6.3% 1.3% Industry Ratios Year 2009 1.18 172,867 6.8 (Industry Averages) 2007 2008 Sales ($M)/Estab. 1.07 1.18 160,319 173,628 Sales ($)/Emp. 6.7 6.8 Emps. per Estab. 2010 1.22 180,094 6.8 2011 1.28 188,993 6.8 Percent Chg. Year-to-Year 07-08 08-09 09-10 10-11 10.7% 8.3% 2.2% -0.5% -0.4% 0.0% 4.2% 4.2% 0.0% 4.9% 4.9% 0.0% Establishments, Firms & Payroll Employee Size of Firm or Establishment 2009 Firms Establishments Payroll ($000) 1-4 Emps. 114,301 30,005 5,976 5-9 Emps. 23,798 28,095 4,863 10-19 Emps. 7,790 18,408 4,375 20-99 100-499 500+ Emps. Emps. Emps. 4,269 36,656 7,955 685 25,557 4,283 412 12,534 11,208 Total 151,255 151,255 38,660 * Firms (total company) are represented by employee size of firm. Establishments (individual locations) are represented by employee size of establishments. "Total establishments" do not include "unknown employees" so will not match "total establishments"
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