Newport News, VA Allstate Agency with 5 state Binding Authority!
Asking Price: | $599,000 |
Gross Revenue: | $856,000 |
Cash Flow: | $187,000 |
Established Year: | 2021 |
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.