The last general meeting of Agéa was the occasion for the national federation of general agents’ unions to present the first Economic Observatory of the profession. The latter has established, among other things, the typical profiles of the AGMs, their agencies or market segments as well as their growth prospects. Above all, it makes it possible to lie about certain figures provided by constituents.
Pascal Chapelon, president of Agea, the national federation of general agents’ unions, has just delivered the results of its first General Agents Economic Observatory. Based on existing figures (Cavamac / Prague / CGPA / INSEE) and the statements of 1,700 agents, Agéa has drawn up a precise map of the profession, whether it is the AGMs themselves or their agencies. , their mode and place of business or the sectors of activity and the clientele they address on a daily basis. The Observatory has also looked at the prospects and levers of growth of the profession with the idea of power in the background. “To control the economic elements of our agencies in order to be able to adjust our subjects, our work and our files in front of our constituent companies that sometimes advance different figures”Pascal Chapelon explains.
In detail, this economic mapping of agents actually shows several characteristics of the standard profile of the 11,900 GMS (including 2,000 specialized in life) in the territory. With an average age of 49, one in five agents is a woman. New agents, on the other hand, enter the profession at the age of 40 with a proportion of women at 1/3 (compared with 1/6 in 2005). “If a young agent enters and remains in the profession for 6 to 7 years, the time to repay his bank loan has an impact on the sustainability of our pension funds and the longevity of our reserves.”warns the president of Agéa who finds that it takes 10 years on average to renew the entire network.
The end of the EIRL
On the business side, the Observatory tells us that 2/3 of the agents’ clients are individuals for 54% of their commissions. Today, each agent has 2.3 contracts per individual client (for an average termination rate of 13.1%) and 3.2 contracts per professional client (for a termination rate of 9.2%).
Agea notes that today the IARD represents 78% of agents’ fees, compared to 17% for life insurance and 4.2% for brokerage. “Contrary to popular belief, you see that we are far from the ugly brokers who make companies miserable.”Pascal Chapelon jokes.
Regarding the ways of exercising the profession and the typology of the agencies, the Observatory highlights that 65% of the agents practice individually, then that only 11% of the GMS work at 3 or more. We also learn that 60.2% of agencies operate under the legal status of a sole proprietorship, compared to 22.4% in EIRL, 13.2% in SARL and 4.2% in EURL. “The disappearance of the EIRL has consequences that should not be overlooked, especially on tax issues and amortization of charges for young agents”Pascal Chapelon then comments.
A growing profession
With an average turnover of 505,000 euros per agency and an average annual total remuneration (before tax) of 112,000 euros, the AGMs have an average of 3.8 employees (up 7.5% over the last 3 years). The Observatory also states that specialist life agents have an average turnover of EUR 120 000 for an average annual general remuneration (before taxes) of EUR 61 000.
Above all, Agéa delivers agents’ 3-year growth prospects and levers. “A very strong maturity often takes the GMS in the analysis of their turnover evolution”, insists the president of the federation. Thus, we learn that 40% of agencies expect strong or even very strong growth over the next three years. 25% also expect an increase in their revenues on the market for professionals (compared to 5% for the market for individuals). Finally, 47% want to recruit, 61% want to train and 18% want to acquire a complementary portfolio, when 17% of agents say they want to start a partnership project.