Insurance Agency Merger Count Held Steady in Q1: Optis

April 15, 2019

There were 151 announced insurance agency mergers and acquisitions during the first quarter of 2019, according to Optis Partners. That was one more deal than was announced in the first quarter of 2018.

The data tracked by the Chicago-based agency M&A consulting and investment firm covers U.S. and Canadian agencies selling primarily property/casualty insurance, agencies selling both P/C and employee benefits, and those selling only employee benefits.

Patriot Growth Insurance Services led all buyers with 18 transactions during the quarter, including 17 closed deals to kick-off their new venture. Other top buyers were Acrisure (16), Hub (12), Gallagher (10), and Broadstreet Partners (10).

Timothy J. Cunningham, managing director of OPTIS Partners, said the data show no changes in terms of appetite for transactions and valuations of agencies for sale.

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