Third-party commissions represented 51.3% and 30.6% of revenues and premium equivalents, respectively, for the year ended December 31, 2015 as compared to 48.2% and 27.4% of revenues and premium equivalents for 2014. These increases were due to a larger percentage of sales made through our non-owed call centers. Third-party commission increases were partially off-set by lower effective commission rates for distributors with advance commission balances.
Our selling, general and administrative (“S, G & A”) expenses primarily consist of personnel costs, which include salaries, bonuses, commissions, stock-based compensation, payroll taxes and benefits. S, G & A expenses also include selling and marketing expenses and travel costs associated with obtaining new distributor relationships. In addition, these expenses also include expenses for outside professional services and technology expenses, including legal, audit and financial services and the maintenance of our administrative technology platform and marketing costs for online advertising. In addition, the insurance brokerage operating expenses of Secured, ASIA and ICE are included in this category.
S, G & A expense for the ended December 31, 2015 was $47.3 million. This represents an increase of $7.4 million, or 18.6% for the year ended December 31, 2015 compared to 2014.
Interests which was offset by a gain of $189,000 on the deconsolidation of SIL. The December 31, 2014 amount included a charge of $500,000 for a cash deposit for a potential acquisition that we did not consummate, partially offset by $220,000 related to the fee for advancing of commissions and a gain on the sale of an investment for $20,000. See Note 15 of the accompanying audited financial statements for further information on the TRA agreement.
Revenue is earned at the time of sale. Commission rates for our products are agreed to in advance with the relevant insurance carrier and vary by carrier and policy type. Under our carrier compensation arrangements, the commission rate schedule that is in effect on the policy effective date governs the commissions over the life of the policy. In addition, we earn enrollment and administration fees on policies issued. All amounts due to insurance carriers and discount benefit vendors are reported and paid to them according to the procedures provided for in the contractual agreements between the individual carrier or vendor and us. Premiums are typically reported and remitted to insurance carriers on the 15th of the month following the end of the month in which they are collected.
In April 2015, the FASB issued an update to its accounting guidance related to debt issuance costs as a part of its initiative to reduce complexity in accounting standards. To simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for fiscal years beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements.