In our latest report on independent insurance agencies for sale, we have noted that national M&A activity so far this year has continued to trend lower than average when compared to the same period over the last five years. The seller’s market for independent agencies is prevalent, with an ongoing buyer’s market in the captive arena.
Access to sellers can be difficult, because open exposure of the desire to sell can be a concern for sellers due to the negative impact that information could have on insurance carriers (markets), employees, clients and the competition. Most consulting firms report that only 10 percent of all deals are publicly known.
Our biggest source for potential opportunities for you come through our ever growing group of over 5,000 sell side intermediaries, broken financing deals, and our Web research activities. This pipeline is supplemented by our network of consultants, attorneys, CPAs, bankers, DOIs, VC and PEGs. Springtree Group provides you with the broadest insight available into new buying opportunities in the insurance space.
The listings below are a sample of some of the new independents discovered through our research or provided to us during the last 30 days. Upon request we will provide our clients access to previous month’s and off-cycle listings.
SHOP D: Southern Michigan — An eight-year-old independent group and individual health insurance agency is for sale. The book is 100% personal lines with over 350 clients. This is a technology based company so very portable and little to no expenses involved. Current clients located in MI, TX, FL, NC and SC. Asking Price $90K / Reported Revenue $72K.
SHOP G: Southern California — A 30-year-old independent P&C agency is for sale in southern California. The book split is 50/50 between commercial and personal line coverages. Asking Price $845K / Reported Revenue $450K.
SHOP I: Southern New York — A 50-year-old independent preferred home, auto, and commercial insurance agency in now up for sale. Top insurance markets include Foremost, Eveready, Progressive, Travelers and others. Licensed in NY, NJ, CT, RI and MA. Asking Price $1MM / Reported Revenue $550K.
SHOP K: Western Florida — A 10-year-old independent P&C shop is for sale. The book is made up of 70% home owners, 20% auto and the balance is a mix of flood & umbrella. Top insurance markets include Citizens, Mercury, Tower Hill, Universal P&C and others. Asking Price $200K / Reported Revenue $100K.
Springtree Group provides the strongest array of M&A, agency lending tools and financial services available to support your acquisition, perpetuation and operational needs in any part of North America. For more information, call 972-395-8811 or contact us online.
