Independent agency sale transactions are continuing at a strong pace in 2022. Organic growth rates and profitability are booming, according to Reagan Consulting. Those financial drivers continue to steer agency merger-and-acquisition prices upward. In this environment, some agency principals are …
Specialty insurance brokerage Risk Strategies has acquired the retail brokerage operations and assets of Joyce Insurance Group and associated businesses in Pittston, Pennsylvania. The acquisition of Joyce Insurance Group represents a solidification of the Risk Strategies presence in Pennsylvania. In …
World Insurance Associates said it acquired Allied Partners Insurance Inc. of Gaithersburg, Maryland on February 1, 2022. Terms of the transaction were not disclosed. Allied Partners Insurance, Inc. was established in 2014. Wilberto Rivera and Nathan Wethje are owners. World …
Broker World Insurance Associates reports it acquired J.K. Olivieri Insurance Agency, Inc. of Middleboro, Massachusetts, on December 1, 2021. Terms of the transaction were not disclosed. J.K. Olivieri Insurance Agency was founded in 1979 in Brockton by John K. Olivieri. …
New Jersey-based broker World Insurance Associates reports it has acquired Sumner & Sumner, Inc., an Insurance agency in Willimantic, Connecticut. Terms of the transaction were not disclosed. Sumner & Sumner began in 1851 as the A.W. Jillson Insurance Agency. The …
Insurance agency Brown & Brown of Florida, Inc. has acquired substantially all of the assets of Corporate Insurance Advisors. J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., and Mark R. Schwartz, the principal of Corporate Insurance Advisors, …
Denver-based insurance brokerage IMA Financial Group said it is expanding to California by acquiring Bolton & Co. in a transaction effective May 1, 2021. The combined brokerage firm will employ 1,200 associates and generate annualized revenues of more than $300 …
There were 288 announced insurance agency mergers and acquisitions during the first half of 2020, down from 328 in 2019, according to a report from OPTIS Partners. It was the lowest six-month period total since 2017. “Some of the active …
Whenever agency principals get together, the topic of agency valuations is sure to come up. Someone will start talking about an agency that sold at an unbelievably high multiple. Pretty soon, everyone’s nodding their head and saying there’s a killing …
Apax VIII, a fund advised by Apax Partners, has agreed to sell its entire stake in AssuredPartners, a growing U.S. insurance brokerage, to an investor group led by GTCR, a Chicago-based private equity firm. GTCR previously owned AssuredPartners from its …
