Industry Transactions

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Acquisition Details

Who’s Buying
Insurance Brokers – Independent 6
Insurance Brokers – Public 4
Insurance Brokers – Private Capital-Backed 31
Insurance Carrier and Other 7
Banks and Thrifts 0
What’s Being Bought
Full Service12
P&C 28
Employee Benefits 8
Retail vs. Specialty
Retail 29
Specialty 19

All transactions listed are announced deals involving public companies, private equity backed brokers, private companies, banks, InsurTech companies (2017-2018 only) as well as others including private equity groups, underwriters, specialty lenders, etc. All targets are U.S. only. This data displays a snapshot at a particular point in time and has not been updated to reflect subsequent changes in prior years, if any. MarshBerry estimates that only 50 – 60% of all transactions are actually made public. Past performance is not necessarily indicative of future results. Data reported YTD as of 10/27/2022.

Source: S&P Global Market Intelligence, Insurance Journal, and other publicly available sources

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Announced Date Deal Year Buyer Seller Seller Location Buyer Type Seller Type Seller Line of Business Press Release
06/30/05 2005 Walsh Duffield Companies Inc. HSBC Holdings, plc (HSBC P&C brokerage business) Independent Agency/Broker Retail P&C
06/29/05 2005 Arthur J. Gallagher & Co. Classic Insurance Services Ltd. IL Public Broker Retail P&C
06/28/05 2005 First Niagara Financial Group, Inc. Hatch Leonard Naples Inc. NY Bank or Thrift Retail P&C
06/27/05 2005 Wachovia Corporation Gerald S. Smith & Co. Inc. (group life & health books of business) Bank or Thrift Retail EB & Consulting
06/27/05 2005 Wachovia Corporation Ingram-Brown & Associates Inc. (group health & life books of business) Bank or Thrift Retail EB & Consulting
06/24/05 2005 Aetna Inc. HMS Healthcare, Inc. Insurance Company Retail EB & Consulting
06/20/05 2005 Affirmative Insurance Holdings, Inc. IPA LLC MI Insurance Company Wholesale P&C
06/20/05 2005 Fidelity National Financial, Inc. Service Link LP PA Insurance Company Retail P&C
06/15/05 2005 Geneve Holdings, Inc. GroupLink Inc. IN Other Buyer Wholesale EB & Consulting
06/13/05 2005 Hancock Holding Company J. Everett Eaves Inc. LA Bank or Thrift Retail P&C
06/08/05 2005 Brown & Brown, Inc. BeneTec Inc. of Arkansas AR Public Broker Retail EB & Consulting
06/07/05 2005 Arthur J. Gallagher & Co. Belmont Associates Consultants Inc. PA Public Broker Retail EB & Consulting
06/06/05 2005 Brown & Brown, Inc. U.S. Risk Insurance Group, Inc. (Governmental Programs division) TX Public Broker Wholesale P&C
06/02/05 2005 DCP Holding Company Adenta, Inc. KY Insurance Company Retail EB & Consulting
06/01/05 2005 Centennial Insurance Agency LLC Winter Trust of 12/3/74 (N.M. & Colo. insurance operations) Independent Agency/Broker Retail P&C
06/01/05 2005 Century Group LLC Winter Trust of 12/3/74 (Kansas City operations) Independent Agency/Broker Retail P&C
06/01/05 2005 Hilb Rogal & Hobbs Company Doherty Inc. KS Public Broker Retail EB & Consulting
05/31/05 2005 Campello Bancorp, Inc. McCormick & Sons Insurance Agency, Inc. MA Bank or Thrift Retail P&C
05/25/05 2005 National Investment Managers, Inc. Valley Forge Enterprises, Ltd. PA Other Buyer Retail EB & Consulting
05/24/05 2005 Stewart Information Services Corporation Moritz Title Co. Grand County, LLC CO Insurance Company Retail P&C
05/23/05 2005 Arthur J. Gallagher & Co. Alternative Market Specialists LLC MN Public Broker Wholesale P&C
05/17/05 2005 Beecher Carlson Holdings Inc. JBL&K Risk Services LLC OR Independent Agency/Broker Retail P&C
05/16/05 2005 Hub International Limited Tash Lyle & Jones WA Public Broker Retail EB & Consulting
05/13/05 2005 BenefitStreet, Inc. BISNet, Inc. CA Other Buyer Retail EB & Consulting
05/10/05 2005 Arthur J. Gallagher & Co. WorkCare Northwest Inc. ID Public Broker Wholesale P&C
05/09/05 2005 Sullivan Group London American General Agency business (books of business) Independent Agency/Broker Wholesale P&C
05/03/05 2005 White Mountains Insurance Group, Ltd. First Media Insurance Specialists Inc. KS Insurance Company Retail P&C
05/02/05 2005 Hub International Limited THB Intermediaries, Inc. IL Public Broker Retail P&C
05/01/05 2005 USI Holdings Corporation Searcey & Searcey Inc. TX Public Broker
04/30/05 2005 HDH Group, Inc. Scott Benefit Group PA Independent Agency/Broker Retail EB & Consulting
04/30/05 2005 Nationwide Insurance Agency Undisclosed insurance agency Independent Agency/Broker
04/30/05 2005 South Financial Group Inc. Bowditch Insurance Corp. FL Bank or Thrift Retail P&C
04/29/05 2005 Arthur J. Gallagher & Co. Chris Schroeder Insurance Inc. WI Public Broker Retail P&C
04/21/05 2005 Greater Bay Bancorp Lucini/Parish Insurance Inc. NV Bank or Thrift Retail P&C
04/12/05 2005 CapTech Financial Group Inc. National Security Title Agencies LLC FL Independent Agency/Broker Retail P&C
04/12/05 2005 McQueary Henry Bowles Troy LLP Cullen/Frost Bankers, Inc. (EB office) TX Independent Agency/Broker Retail EB & Consulting
04/11/05 2005 Stewart Information Services Corporation Advance Title Holding Company LLC FL Insurance Company Retail P&C
04/05/05 2005 Wachovia Corporation Palmer & Cay Inc. GA Bank or Thrift Retail P&C
04/01/05 2005 BancorpSouth, Inc. Kyzar and Company PA MS Bank or Thrift Retail EB & Consulting
04/01/05 2005 Barker Phillips Jackson, Inc. Group Benefits, Inc. MO Independent Agency/Broker Retail EB & Consulting
04/01/05 2005 First Niagara Financial Group, Inc. Brooks-Byer Associates Inc. NY Bank or Thrift Retail P&C
04/01/05 2005 Regions Financial Corporation Galbreath Insurance Agency Inc. TN Bank or Thrift Retail P&C
03/31/05 2005 NFP Corp. Undisclosed Seller (ten undisclosed companies) Public Broker
03/29/05 2005 Old National Bancorp J.W.F. Insurance Companies Inc. IN Bank or Thrift Retail P&C
03/23/05 2005 Management group Anderson Group KY Independent Agency/Broker Retail P&C
03/17/05 2005 Primary Group Limited New Age Brokerage Inc. NJ Independent Agency/Broker Wholesale P&C
03/10/05 2005 Assurex International Corp. Reisner & McTigue Agency Inc. OH Independent Agency/Broker
03/09/05 2005 NFP Corp. Highland Capital Holding Corporation AL Public Broker Wholesale EB & Consulting
03/02/05 2005 Stephens Group, Inc. Kane Agency Inc. AR Independent Agency/Broker- Private Capital Backed Retail EB & Consulting
03/01/05 2005 Bridge Street Financial, Inc. Ladd's Agency Inc. NY Bank or Thrift Retail P&C
02/28/05 2005 KNBT Bancorp, Inc. Caruso Benefits Group Inc. PA Bank or Thrift Retail EB & Consulting
02/22/05 2005 Willis Group Holdings Limited CGI Consulting Group Inc. PA Public Broker Retail EB & Consulting
02/18/05 2005 Hylant Group, Inc. Dobson-McOmber Agency Inc. MI Independent Agency/Broker Retail P&C
02/18/05 2005 Stewart Information Services Corporation Effingham Title Company IL Insurance Company Retail P&C
02/17/05 2005 Cadenhead Shreffler Insurance Agency Inc. Insurance & Bonds Agency Inc. TX Independent Agency/Broker Retail EB & Consulting
02/17/05 2005 Leavitt Group Enterprises, Inc. Stephens & Hobdy Insurance Inc. MS Independent Agency/Broker Retail Multi Line
02/15/05 2005 American Wholesale Insurance Group, Inc. Stewart Smith East Inc. NY Independent Agency/Broker Wholesale P&C
02/14/05 2005 Brown & Brown, Inc. Emerald Benefits Inc. FL Public Broker Retail EB & Consulting
02/14/05 2005 Savage and Associates Inc. Christie Financial Services Ltd. OH Independent Agency/Broker Retail P&C
02/14/05 2005 Temple-Inland, Inc. Walter Mortensen Insurance Inc. CA Bank or Thrift Retail P&C
02/11/05 2005 Brown & Brown, Inc. Hull and Company, Inc. FL Public Broker Wholesale P&C
02/09/05 2005 Stewart Information Services Corporation Burnt Store Title Services Inc. FL Insurance Company Retail P&C
02/09/05 2005 Stewart Information Services Corporation Pine Island Title Insurance Agency Inc. FL Insurance Company Retail P&C
02/07/05 2005 International Insurance Brokers Ltd. LLC Team Insurance Group Inc. OK Independent Agency/Broker Retail P&C
02/03/05 2005 Stewart Information Services Corporation McKinley Title & Trust Inc. AK Insurance Company Retail P&C
02/03/05 2005 Stewart Information Services Corporation Midwest Holdings Inc. FL Insurance Company
02/01/05 2005 First Niagara Financial Group, Inc. LA Lama Insurance Agency NY Bank or Thrift Retail P&C
02/01/05 2005 Hylant Group, Inc. Harcum-Schuett Agency Inc. OH Independent Agency/Broker Retail P&C
01/31/05 2005 Bankers Insurance Center LLC Troy & Nichols Insurance Agency Inc. LA Independent Agency/Broker Retail P&C
01/31/05 2005 BB&T Corporation Huffaker & Trimble Inc. TN Bank or Thrift Retail P&C
01/27/05 2005 Direct General Corporation Undisclosed Sellers (2 insurance agencies) TX Insurance Company
01/27/05 2005 Hotchkiss Insurance Agency Inc. Old Republic International Corporation (insurance agency office) TX Independent Agency/Broker Retail P&C
01/26/05 2005 Assurex International Corp. Integrity Insurance Agency KY Independent Agency/Broker Retail EB & Consulting
01/26/05 2005 Willis Group Holdings Limited PRIMARY Worldwide Corporation CA Public Broker Retail EB & Consulting
01/24/05 2005 Arthur J. Gallagher & Co. JLT Re Solutions Inc. (reinsurance brokerage assets in MN and AL) Public Broker Retail P&C
01/24/05 2005 Sentry Insurance, a Mutual Company ALF Insurance Agency Inc. MI Insurance Company Retail P&C
01/24/05 2005 Stewart Information Services Corporation Abstract & Title Co. OR Insurance Company Retail P&C
01/24/05 2005 Stewart Information Services Corporation Jackson Kahl Title Services, LLC WI Insurance Company Retail P&C
01/21/05 2005 Beneficial Mutual Savings Bank Paul Hertel & Co., Inc. PA Bank or Thrift Retail P&C
01/18/05 2005 AssuranceAmerica Corporation Cannon Insurance Agency Inc. GA Insurance Company Retail P&C
01/17/05 2005 Central Bancshares, Inc. Purdy & Cooke Insurance Agency, Inc. KY Bank or Thrift Retail P&C
01/15/05 2005 Lykes Bros. Inc. Tucker & Branham, Inc. FL Other Buyer Retail P&C
01/13/05 2005 Brown & Brown, Inc. ECC Insurance Brokers, LLC IL Public Broker Wholesale P&C
01/12/05 2005 Anthony Clark International Insurance Brokers Ltd. Schuneman Insurance Agency Inc. IL Independent Agency/Broker Retail P&C
01/11/05 2005 USI Holdings Corporation Patterson//Smith Associates VA Public Broker Retail P&C
01/07/05 2005 Hilb Rogal & Hobbs Company Ed Murray & Sons Inc. WY Public Broker Retail P&C
01/05/05 2005 Compass Bancshares, Inc. Warren Benefits Group Inc. TX Bank or Thrift Retail EB & Consulting
01/05/05 2005 Independence Holding Company Health Plan Administrators Inc. IL Insurance Company Retail EB & Consulting
01/04/05 2005 Brown & Brown, Inc. U.S.I. Holdings Corporation (Ocala office) FL Public Broker Retail P&C
01/03/05 2005 Hilb Rogal & Hobbs Company True Benchmark Insurance Services IL Public Broker Wholesale P&C
01/03/05 2005 National Penn Bancshares, Inc. Krombolz Agency Inc. PA Bank or Thrift Retail P&C
01/03/05 2005 S&T Bancorp, Inc. Bennett Group PA Bank or Thrift Retail P&C
01/01/05 2005 Arthur J. Gallagher & Co. Horton Insurance Agency Inc. OK Public Broker Retail P&C
01/01/05 2005 Arthur J. Gallagher & Co. Marine Insurance Service, LLC LA Public Broker Retail P&C
01/01/05 2005 Brown & Brown, Inc. Braishfield Associates Inc. (CL Ops) FL Public Broker Wholesale P&C
01/01/05 2005 Century Business Services, Inc. Southeastern Agency LLC OH Other Buyer
01/01/05 2005 Encore Bancshares, Inc. John A. Bumstead & Associates Inc. TX Bank or Thrift Retail P&C
01/01/05 2005 First Acceptance Corporation LGNP Enterprises, Inc. TX Insurance Company Retail P&C
01/01/05 2005 Nasdaq Stock Market, Inc. NASDAQ Insurance Agency LLC NY Other Buyer Retail P&C