Business Overview
About the Company
High Growth, High EBITDA Wholesale Life Insurance GA & Brokerage
This Wholesale Life Insurance Agency and Brokerage is tech driven, recruits and employees some of the top Insurance Brokers in the Industry, and is known for their Advanced Case Design and for serving High Net Worth clients.
Founded in 2017, the founding Partners set out to create a Fintech Insurance Agency and Brokerage, designing a comprehensive proprietary software, which is included in the transaction. Not long after launching the owners grew to love the strong the cash flows being generated from their insurance business, and shifted their focus to growing their Insurance Book of Business. The Company is built to scale, with the technology in place to recruit as many Brokers and policy holders possible. Due to this, the Company has grown Revenues by 45%, 40%, and 79% in 2021, 2022, & TTM ending 11/30/2023 respectively.
The company is licensed to sell Life Insurance, Annuity Products, and Health Insurance related products, but over 99% of their revenues come directly from Life Insurance related products. The current owners do not actively work in the business on a full-time capacity, and the Company has a solid management team in place that runs the day-to-day operations, and that can continue to run the business for the right qualified buyer post close.
The company is growing exponentially, and can continue to grow by investing in Broker recruitment and education and adding more Brokers to the Company and platform. Also, there is a SaaS opportunity for a Buyer to license the proprietary software as an Insurance Agency and Brokerage client and policy management software to other Agencies and Brokerages thru the use of Enterprise License Agreements, which the Company is not currently doing.
TTM ending 11/30/2023 actual results as follows;
Revenue $7,748,231
Adj. COGS $4,923,514 – 63.5% of Rev
Adj Gross Profit $2,824,717 – 36.5% of Rev
Adj. Expenses $182,823 – 2.4% of Rev
SDE $2,641,894 – 34.1% of Rev
Adj. EBITDA $2,461,894 (with $180K replacement salary) 31.8% of Rev
Life and Health Insurance License is required to own and operate this business.
The company started around seven years ago as a Life Insurance / Fintech business. The model of selling Life Insurance / IUL policies to High-Net-Worth clients grew year over year and has accelerated in recent years.
The company handles all of the back-office work including; policy, case, customer, and carrier management, allowing their brokers to focus on customer relations and selling. Recently, the company launched a fully automated broker recruitment took, which has and will continue to contribute to future growth.
The insurance landscape is competitive.
Anyone who is licensed to sell Life Insurance can do so. However, there are no direct competitors that can compete with this Company’s Brokers and their direct relationships with the clients. There are a few other wholesale life insurance agencies throughout the country, but there is little direct competition.
This Company has been designed and built for growth and scalability. Which can be accomplished by utilizing the system they have built and their proprietary software to attract and add more Broker’s thru Broker education and recruitment. The more Brokers recruited to the Company, the more the Company will grow. In 2023, the Company launched a fully automated online Broker Recruitment program, which has led to three new Brokers being onboarded in 2023 alone.
Lastly, with the proprietary software built out and in use by the Company, there is an opportunity for a Buyer to continue to develop and invest in the software, to eventually take it to market as an Enterprise Software solution for the Insurance industry via licensing agreements and a SaaS opportunity.
The sale is confidential. A signed NDA and Completed Buyer Profile is required to provide confidential information to any prospective Buyer.
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