Independent Life Insurance and Annuities Agency $2.1 Million Book of Business

Founded in 2003, the owner of this independent insurance agency in North Carolina is ready to retire. The agency offers life insurance and annuities to a niche market. The agency has built a strong foundation of loyal customers with 85% retention rate. Revenue shown for last twelve months is recurring revenue. Due to unforeseen health issues the seller has only been able to work a few hours a week since November 2021 and was not able to bring in new business.  

INVESTMENT HIGHLIGHTS:

• Approximately 260 active life insurance policies at a total value just over $1.1M.
• Approximately 595 annuities with an annuity total amount over $1.2M. 
• Loyal customer base in niche market.

GROWTH OPPORTUNITIES:

The Company has opportunities for quick growth as identified below:

• Geographic Expansion: Pursuing untapped markets in nearby states such as Tennessee, Mississippi, Alabama, and Florida could be a quick way to expand the current client base and increase revenue.
• Increase Online Presence: Due to the reputation that comes along with being in business for two decades, this Insurance Agency relies 100% on word-of-mouth referrals to gain new business, and while this has been a successful strategy, a new owner would be able to speed the growth of the business by creating a website and increasing awareness through social media.
• Expand the Team: There is currently one part time employee in charge of administrative tasks. The Company could increase the book of business by adding another agent to market to untapped regions.