Book value lives at the producer level, and the producer-productivity series shows where it concentrates: in commercial P&C, and at scale. For a buyer setting integration targets — or a seller benchmarking a producer bench — this is the per-head reference. This is the producer-productivity slice of the Best Practices trend data; the companion BPS trend reference indexes all seven themes.
§ 01 · The anchor bookCommercial P&C per producer.
Commercial P&C is the most stable and largest producer book across the size curve — and it scales sharply with agency size, from roughly $200–260K at the smallest tier to $1.36M at the largest in 2022.
| Commercial P&C book per producer | 2018 | 2022 |
|---|---|---|
| Under $1.25M | $198,783 | $257,281 |
| $2.5M–$5M | $548,983 | $538,267 |
| $5M–$10M | $573,068 | $575,260 |
| $10M–$25M | $938,815 | $773,998 |
| Over $25M | $1,025,639 | $1,359,074 |
§ 02 · The line spreadWhere a producer's book is biggest.
At scale, the largest producer books are commercial and life-and-health — both above $1.2M per producer at the largest tier in 2022 — while personal-lines books run a third of that. The pattern reflects the specialization that comes with size: large agencies field dedicated commercial and benefits producers carrying deep, high-value books.
| Book per producer (over $25M, 2022) | Book |
|---|---|
| Commercial P&C | $1,359,074 |
| Life / health / financial | $1,230,294 |
| Multi-line | $1,143,501 |
| Personal P&C | $415,954 |
§ 03 · New business volatilityThe unstable number.
New business per producer is far more volatile than total book — it swings materially year to year across every line and tier, and the smallest tier shows data gaps in the life-and-health line. The read for a buyer: total book is the durable, underwriteable figure; new-business production needs a multi-year average and a 2–3 year stabilization assumption post-close.
- Commercial is the anchor. The largest, most stable producer book across all tiers — $1.36M per producer at the top in 2022.
- Books scale 2–3× with size. The largest agencies carry per-producer books two-to-threefold the smallest, even after infrastructure differences.
- L&H is the steepest curve. Life-and-health book per producer climbs from ~$74K (smallest) to ~$1.2M (largest).
- Personal lines runs a third. Personal-lines books are roughly a third of commercial at the largest tier.
- New business is volatile. Year-to-year swings across all lines; total book is the durable figure.
The benchmark is the baseline, not the price.
Best Practices benchmarks don't value an agency — they're the operating baseline a valuation is built on. The producer data sets concrete integration targets: a producer at a $2M-revenue agency should realistically carry a $180–540K commercial book, and a buyer can calibrate a producer census against tier benchmarks to size client-transfer risk. Because new business is volatile, a disciplined buyer models the durable total book, not a single strong new-business year, and budgets a 2–3 year stabilization.
The way producer books flow into a valuation is the financial & transactional mechanics reference.
What BPS measures. The Best Practices Study tracks the operating and financial results of top-performing agencies, segmented by revenue tier. This brief reflects the 2018–2022 producer-productivity series.
Book per producer. Total commission book a producer services, by line of business.
New business per producer. Newly written commission per producer — more volatile than total book.
Frequency. The study publishes annually. Milly Books refreshes this brief with each new edition.