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The TMPAA State of Program Business Study 2023
Businesses of all sizes responded to this year’s survey. Respondents were segmented into three roughly equal-sized
groups based on premium volume. The smaller companies are those with gross premiums of up to $20 million. The
mid-sized firms are those with gross premiums of between $20 million and $75 million, while the larger companies have
gross premiums of more than $75 million. A comparative analysis of these group’s practices and views was conducted
to provide further insight into the various survey topics. Significant differences were also highlighted between the larger
and smaller program administrators.
In the study, profit margin is calculated as net income (including contingents) as a percentage of revenue, while average
revenue is defined as the average of the middle of the revenue ranges provided by each respondent.
6 www.targetmkts.com | 2023
