Newport News, VA Allstate Agency with 5 state Binding Authority!

Newport News, VA

Seller Financing Available

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Asking Price:$599,000
Gross Revenue:$856,000
Cash Flow:$187,000
Established Year:2021
BUSINESS DESCRIPTION

This 3+ year ECP Allstate Agency will graduate in February as ECP Top Curve which should give a buyer the AAP compensation segment of Elite for the rest of 2025. The Retention ratio is 74.24% and the loss ratio is 68.62% which reflects the AUTO loss. In addition to the Allstate Earned Premium of $3,467,238 there is also $54,800 in Ivantage Premium. There are three staff members that make up this team. One Customer Service Manager, one Customer Service LSP, and one Licensed Sales Producer. All of which are remote. There is no lease to take over on this purchase. In addition, there is P&C Binding authority in Virginia, Maryland, Delaware, West Virginia, and North Carolina. Owner is retiring and ready to move into the next phase of life.


DETAILED INFORMATION
Location
Newport News, VA
Inventory
Not Included in asking price
Employees
3
Facilities
Remote
Financing
Some financing available with acceptable offer.
Reason for Selling
Retiring
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Justin
Slocum
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Justin Slocum