Purchase Agency

[Park1117]

Hello All!

I am a licensed insurance agent and have around 16 years of experience in the Insuance industry and want to purchase an agency or block of business. I live in Iowa and am wondering if anyone can give me some advice on where I can advertise to purchase an agency or if they know of anyone looking to sell their agency.

 

[HarryRenard]

Hello All!

I am a licensed insurance agent and have around 16 years of experience in the Insuance industry and want to purchase an agency or block of business. I live in Iowa and am wondering if anyone can give me some advice on where I can advertise to purchase an agency or if they know of anyone looking to sell their agency.

Earl Whitley (in SC) Brokers books of business. I have bought and sold with him he has always been a stand-up guy to me and the guys I know that use him.

Shoot me a message or post your info and i will give you his contact info.

 

[G.Gordon]

I've actually thought about selling out at times. What does one usually get for a book of medsupp business. I have some individual health books, supplemental plans like cancer/accident/dental, and life, but I'll keep all those if I ever sell out.

So... what can one get. 2.5, 3, 3.5 times the annual income?

 

[Yoda]

I had a company from Indiana come out of nowhere and offer me 30,000 dollars about 5 years ago for a medicare supplement block of business that was paying out 20,000 a year in renewals! Of course I wanted no part of that highway robbery. Your common sense just about tells you those guys making those offers are looking for people so desperate for money that they are actually willing to take it hard in the ass to get it. Spooky thing about the whole deal was those S.O.B.s knew the exact details of my book of business and were able to make me an offer without me having to provide them with any information!

 

[HarryRenard]

I wouldnt sell a book that was paying renewals and I am not sure who would but I geuss some people do have reasons.

What I have dealt with is what I geuss you would consider orphan policy holders, and they can be a large blocks of clients and they are a verifiable and could really care less what anyone thinks, the OP asked a question and I answered, THAT'S IT.

 

[G.Gordon]

When I relocated an organization contacted me about my ind. health book. At that time it was paying $38-40k/year. They gave me a ball park of 2.8 times the annual commissions. At that time I was hard up and would have taken the offer. Now, I'm glad I didn't. I still get $24k/year or more from that book of business... five years later with no new additions.

 

[5pill]

My little book of FE after 1 year is limping along pretty badly right now.....but I would entertain any serious offers. I'm asking $50,000.

When I relocated an organization contacted me about my ind. health book. At that time it was paying $38-40k/year. They gave me a ball park of 2.8 times the annual commissions. At that time I was hard up and would have taken the offer. Now, I'm glad I didn't. I still get $24k/year or more from that book of business... five years later with no new additions.

 

[DS4]

The OP has 3 posts and all involve trolling for advise and info about purchasing an agency.
I'm going to go out on a limb and say the OP is a Professional Practice Sales Broker trying to drum up business.
If not, I apologize to everyone on the internet.