Billion Dollar Premium Pace Continues for Brooke Capital Corporation
April 02 2008 - 3:37PM
Marketwired
OVERLAND PARK, KS announced that Brooke Capital Corporation's
insurance agents have continued writing insurance premiums at an
annualized pace exceeding $1 billion.
During the months of February and March, Brooke again allocated
more than $10 million in monthly commissions to its franchisees.
Based on an estimated average commission rate of 12.5 percent,
Brooke franchisees wrote premiums at an annualized rate that
exceeded $1 billion.
Although commissions during February and March 2008 were
significantly higher than in those months in 2007, Garst noted that
commission and premium growth is expected to level off in the
future, as the company continues its "New Era" initiative of
emphasizing franchise location quality and de-emphasizing franchise
location growth.
Garst stated, "Although we will continue to recruit good
insurance agents as franchisees and convert good insurance agencies
into franchises, our push for quality will transform our
organization, so that we spend fewer resources assisting lenders
with poorly performing locations and more resources focusing on our
core franchise services: our brand, our business model, our
relationships with insurance companies, and our document and
information system."
About our company . . . Brooke Capital Corporation (AMEX: BCP)
is an affiliate of Brooke Corporation (NASDAQ: BXXX) that operates
a life insurance company and has agreed to acquire an auto
insurance company. As the result of a recent merger with Brooke
Franchise Corporation, the company's insurance company business is
supported by a network of independent insurance agency franchises.
For more information, visit www.brookeagent.com.
This press release contains forward-looking statements. All
forward-looking statements involve risks and uncertainties, and
several factors could cause actual results to differ materially
from those in the forward-looking statements. The following
factors, among others, could cause actual results to differ from
these indicated in the forward-looking statements: the uncertainty
that our commission levels will remain the same as February and
March levels, the uncertainty that the Company will achieve its
short-term and long-term profitability and growth goals,
uncertainties associated with market acceptance of and demand for
the Company's products and services, the impact of competitive
products and pricing, the dependence on third-party suppliers and
their pricing, its ability to meet product demand, the availability
of funding sources, the exposure to market risks, uncertainties
associated with the development of technology, changes in the law
and in economic, political and regulatory environments, changes in
management, the dependence on intellectual property rights, the
effectiveness of internal controls, and risks and factors described
from time to time in reports and registration statements filed by
Brooke Capital Corporation with the Securities and Exchange
Commission. A more complete description of Brooke's business is
provided in Brooke Capital Corporation's most recent annual,
quarterly and current reports, which are available from Brooke
Capital Corporation without charge or at http://www.sec.gov.
Contact: Karen Haus Market Street Partners 415-445-3238 Email
Contact
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