FINANCES
FROM BELL-PDAIS CEO RICH BELL
Summary of 2018
I was honored to be named President and Chief
Executive Officer of Bell-PDAIS in July of 2018. In
taking the reins of the company, my primary goal was
to make our operation profitable for the first time
since the acquisition of Bell on November 1, 2014.
My plan to achieve profitability was basic and
clear-cut: increase income and cut expenses.
To accomplish this feat, I went through every
expense, line by line, and made drastic cuts across
the board.
The end result yielded Bell-PDAIS a 2018 net profit
of $329,402 versus 2017’s net loss of $55,519.
Inside the Numbers
Total Income Increase. ................................................................................... $53,753
Total Expenses Decrease............................................................................. $309,682
Bell Insurance Property & Casualty Commission Increase.. $125,125 (Up 5%)
PDAIS Property & Casualty Commission Decrease...........$9,455 (Down 1.6%)
Bell Insurance Health Insurance Commission Decrease.$3,758 (Down 3.8%)
PDAIS Health Insurance Commission Decrease............. $41,844 (Down 9.1%)
Contingency/Profit Sharing Income – 2018. . ... $467,457 vs $370,344 in 2017
Endorsed Vendor Income – 2018.........................$23,640 vs $18,568 in 2017
Total P&C Income. ............................................$3,669,259 (87.7% of the income)
Total Group Health Income.............................. $593,740 (12.3% of the income)
Total Commission Income.......................................................................$4,182,999
30