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Broker M & As broke record levels during the first half of the year



There were 339 mergers and acquisitions among insurance agents and brokers during the first half of 2021, an increase of 17.7% compared to the same period last year and the highest record amount in the first half, according to a report from Optis Partners LLC.

Grand Rapids-based Acrisure LLC was the largest acquirer with 31 first-half transactions, which was approximately 20% below its five-year average for the period, followed by PCF Insurance Services in Woodland Hills, California, with 22; AssuredPartners Inc. of Lake Mary, Florida, with 21; Columbus, Ohio-based BroadStreet Partners Inc. with 19; and Hub International Ltd. with 17, said Optis.

The Chicago-based investment banking and consulting firm tracks M&A activities among U.S. and Canadian agents and brokers who sell real estate / accident insurance, employee benefits, or both.

Private equity backed buyers and buyers with significant external financial support continued to dominate the brokerage and M&A sector and accounted for 66% of all first half offers, slightly in the first half of 2020, followed by 24% of private brokers, an increase from 1

7% last year, and only 5% of publicly owned brokers, which is from 10% in the first half of 2020, the report says.

"In some ways, the M&A history is repeated: an increasing number of private equity-backed buyers with access to large amounts of cheap capital continue to drive the pace of M&A and valuations at high times. A more interesting development is the beginning of a increase in privately owned agency activities, as they now account for a quarter of the completed transactions, says Dan Menzer, partner at Optis, in the report.

Real estate agents / accidents were involved. 188 or 55% of transactions.

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