How much do those top-tier AIA insurance agents earn monthly?

[Nik]

Previously, there was this incident where AIA offered S$100 million to 300 agents from Great Eastern (GE) to get them to switch over : Some 300 GE agents were offered $100m to join rival AIA firm, Banking News & Top Stories - The Straits Times

How much do these top-tier AIA agents, who switched over from GE to AIA, earn monthly after they switch over?

Mid 5-figure monthly including bonuses and commission?
High 5-figure? Or average around 6-figure monthly?

Just curious, their prospects seem really insane.
I assume all these 300 agents are multi-millionaires by now.

Originally Posted by Nik

Previously, there was this incident where AIA offered S$100 million to 300 agents from Great Eastern (GE) to get them to switch over : [url=://.straitstimes.com/business/banking/aia-financial-advisers-offered-100m-to-buy-over-ges-300-plus-agents-say-sources]Some 300 GE agents were offered $100m to join rival AIA firm, Banking News & Top Stories - The Straits Times[/

How much do these top-tier AIA agents, who switched over from GE to AIA, earn monthly after they switch over?

Mid 5-figure monthly including bonuses and commission?
High 5-figure? Or average around 6-figure monthly?

Just curious, their prospects seem really insane.
I assume all these 300 agents are multi-millionaires by now.

For insurance agent, there are a few components to their "income", generally split under
- Commission from first year premiums: This is the highest commission received from each insurance policy sold. It can be up to 50% of the annual premium, depending on the product sold.
- Commission from recurring years premiums: For every year the insurance policies are renewed, the agent also get recurring commissions, in a smaller percentage.
- Maintenance fees: This is the money given to maintain their business/portfolio, as long as they meet the minimum annual requirements set by the insurance companies. It varies from agents depending on level (i.e. junior to more senior agents managing a team). It can be a few hundred to thousands for agents managing a team.
- Special bonus based on products: If there is an insurance campaign, and the agent managed to sell a lot of the specific product, they are eligible for this special bonus, which can be in the form of cash or points or trips. This is also why you will see your insurance agents going for overseas trips in exotic locations, as a reward for their performance.
- Renewal commission: These are generally your general insurance, i.e. travel, home insurance, etc. If they are renewed annually, the agents will also get the renewal commission.

In brief, it is a complex formula, as a lot is dependent on how long this agent has been working. The longer he has been working, the more "renewal", "maintenance fees" and "commission from recurring years", it will be. If an agent has to leave the existing insurance company to join another insurance company, they would need to give up all these renewals, and start fresh. If the agent is managing a team, they also get over-riding commission, on the policies sold by the agents they managed. These are the recurring income that needs to be given up.

A top insurance agent who has been in this industry for more than 10 years, with a team, can have 7 digits per annum.