SCOTTSDALE, Ariz. – (September 23, 2010) – MJ Insurance, one of the top 100 privately-held agencies in the U.S., has seen record growth in Arizona expanding its revenue by more than 35 percent in the past 12 months and adding 12 new clients in the past two months alone. In fact, August and September were company’s best performing months since opening the Arizona office in 2005.
MJ’s growth isn’t limited to Arizona. In Indianapolis, where the company is based, MJ Insurance has seen similar growth and the firm’s revenue was up significantly year-over-year. MJ’s 2010 revenue – based on a fiscal year of September 2009 to September 2010 – was $21.8 million, up from $21 million.
MJ Insurance was recently named No. 78 on the list of the top 100 privately-held agencies in the U.S. The listing, compiled by Insurance Journal, a bi-weekly trade publication, noted MJ’s property/casualty revenue grew by more than 5 percent in 2009.
“We’ve worked hard to grow the business in Arizona,” said Mike Bill, CEO of MJ Insurance. “We have focused on some new areas and are seeing significant growth. We’ve also seen an increase in our employee benefits side of the business – proving the health insurance needs remain top of mind for employers and employees alike.”
Still, Bill notes much of MJ’s success in Arizona boils down to hard work and employees who are experts in their focus areas. “We network and are out in the community looking for ways to best serve our existing clients while finding others,” the CEO said. “And a lot of our new business comes from referrals, which tells me we are doing the right things on behalf of our clients.”
In addition, MJ Insurance was recently selected to participate in the Independent Insurance Agents & Brokers of America (IIABA) “Best Practices” Study Group. Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected “Best Practices” agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
More than 1,200 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 224 agencies qualified for the honor. To be chosen, the agency had to be among the 35-40 top performing agencies in one of six revenue categories.
MJ Insurance, with offices in Indiana and Arizona, is a property-casualty and employee benefit agency that, since 1964, has grown from a two person start-up to an agency with more than 125 employees. MJ Insurance specializes in a diverse selection of unique service lines including construction, energy, transportation, real estate, manufacturing, sororities, mining and life sciences. MJ also offers complete employee benefit programs including major medical, group disability, group life and onsite employer clinics. MJ Insurance currently has clients in 16 countries and in every U.S. state.
ABOUT MJ INSURANCE
MJ Insurance is a leading property-casualty and employee benefit agency specializing in various commercial sectors: construction, manufacturing, sororities, coal mining, transportation, as well as comprehensive employee benefit programs. Since 1964, MJ Insurance has continued to expand through growth, service and leadership. MJ was recently recognized by Rough Notes Magazine and industry peers as ‘Marketing Agency of the Year’ and was named a 2010 Best Places to Work by the Indiana Chamber of Commerce. In addition, MJ Insurance was named one of Indiana’s Top Workplaces 2010 by The Indianapolis Star. Additional information may be found at www.mjinsurance.com.
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