Brokers M&As fall in second quarter: Sica Fletcher
- August 4, 2024
- Posted by: Web workers
- Category: Finance
Mergers and acquisitions among insurance agents and brokers fell by 26% in the second quarter of 2023, compared with the same period last year, according to a report released Thursday by M&A consultancy Sica Fletcher LLC.
The Amityville, New York-based company tracks M&A deals by 22 acquirers, which it said accounted for 72% of the deals in this year’s first half.
According to the report, the brokers tracked acquired 141 agents and brokers in the second quarter, compared with 190 in the same period in 2022.
For the first half, the group completed 257 deals, a 16% drop from the same period last year.
The average annual revenue of the agencies acquired in the first half was $5.64 million, the report said.
Hub International Ltd. was the most active buyer with 28 deals in the first half, followed by BroadStreet Partners Inc. with 26 and Risk Strategies Co. with 23, the report said.
