Industry Transaction Details (as of February 28, 2025)

Who’s Buying
Insurance Brokerage	785
Insurance Carrier and Other	18
Banks and Thrifts	7

What’s Being Bought
Full Service	171
P&C	476
Employee Benefits	164

Retail vs. Specialty
Retail	699
Specialty	112

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 2/28/2025

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

Buyer

Deal Year

Location

Buyer Type

Seller Type

Seller Line of Business

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Announced Date	Deal Year	Buyer	Seller	Seller Location	Buyer Type	Seller Type	Seller Line of Business
06/13/06	2006	Bollinger, Inc.	Windsor Benefit Consultants/James E. Hopgood & Associates	NJ	Independent Agency/Broker	Retail	P&C
06/12/06	2006	CIMA Companies Inc.	ENI Insurance Services LLC	MD	Independent Agency/Broker	Retail	P&C
06/09/06	2006	First American Corporation	Attorneys Title Insurance Agency, Inc.	NC	Insurance Company	Retail	P&C
06/09/06	2006	First Financial Holdings, Inc.	Employer Benefits Strategies, Inc.	SC	Bank or Thrift	Retail	EB & Consulting
06/08/06	2006	Appalachian Underwriters Inc.	USAdministrators	GA	Independent Agency/Broker	Wholesale	P&C
06/07/06	2006	Fennell Consulting	AmeriNet (insurance broker division)		Independent Agency/Broker
06/07/06	2006	HealthNow New York	Brokerage Concepts Inc.	PA	Insurance Company	Retail	EB & Consulting
06/05/06	2006	BenefitMall	Weston Group Benefits, LLC	NY	Independent Agency/Broker	Wholesale	EB & Consulting
06/05/06	2006	Security Federal Corporation	Collier Jennings Financial Corporation	SC	Bank or Thrift	Retail	P&C
06/05/06	2006	Stewart Information Services Corporation	Title Co. of Crested Butte	CO	Insurance Company	Retail	P&C
06/01/06	2006	Arthur J. Gallagher & Co.	Lemac & Associates, Inc.	CA	Public Broker	Wholesale	P&C
06/01/06	2006	Arthur J. Gallagher & Co.	Robert Keith & Associates Inc.	IL	Public Broker	Retail	P&C
06/01/06	2006	Eastern Bank Corporation	D.J. Rielly Insurance Agency, Inc.	MA	Bank or Thrift	Retail	P&C
06/01/06	2006	Evans Bancorp, Inc.	Fire Service Agency, Inc.	NY	Bank or Thrift
06/01/06	2006	Flood Group, LLC	Henry J.Bosio Associates Inc.	NY	Independent Agency/Broker
06/01/06	2006	Life of the South Corporation	First Citizens BancShares, Inc. (two insurance companies)		Insurance Company
06/01/06	2006	PAULA Financial	Lawrence B. Long Insurance Services Inc.	CA	Public Broker	Wholesale	EB & Consulting
05/31/06	2006	BNCCORP, Inc.	T.M. Richards & Associates	AZ	Bank or Thrift	Retail	EB & Consulting
05/31/06	2006	LCNB Corp.	Altemeier Oliver & Company	OH	Bank or Thrift	Retail	P&C
05/31/06	2006	Protective Life Corporation	Western General Insurance Company (vehicle extended service contract business)		Insurance Company	Wholesale	P&C
05/31/06	2006	Stewart Information Services Corporation	Stewart Escrow and Title Midwest City, Inc.	OK	Insurance Company	Retail	P&C
05/30/06	2006	PACEL Corporation	Consolidated Services, Inc.	VA	Other Buyer	Retail	P&C
05/28/06	2006	Salem Five Bancorp	Boyle Insurance Agency Inc.	MA	Bank or Thrift	Retail	P&C
05/24/06	2006	Brown & Brown, Inc.	Ideal Insurance Agency, Inc.	IL	Public Broker	Wholesale	P&C
05/24/06	2006	PAULA Financial	Sunland Insurance Services	CA	Public Broker	Retail	P&C
05/16/06	2006	Stewart Information Services Corporation	Longmont Title Holdings	CO	Insurance Company	Retail	P&C
05/15/06	2006	Brown & Brown, Inc.	Benefit Development Group Inc.	PA	Public Broker	Retail	EB & Consulting
05/15/06	2006	Hub International Limited	Westar Insurance Managers Inc.	WA	Public Broker	Retail	P&C
05/09/06	2006	Redwood Financial, Incorporated	Community Insurance Inc.	MN	Bank or Thrift	Retail	Multi Line
05/04/06	2006	USI Holdings Corporation	Pettineo Insurance Agency Inc.	FL	Public Broker	Retail	P&C
05/03/06	2006	Towers, Perrin, Forster & Crosby, Inc.	Cravens Leffler & McCormick Insurance Services Inc. (customer contracts)		Other Buyer	Wholesale	P&C
05/02/06	2006	NFP Corp.	Undisclosed Seller (two insurance brokers)		Public Broker
05/01/06	2006	Arthur J. Gallagher & Co.	Y. S. Liedman & Associates	FL	Public Broker	Retail	EB & Consulting
05/01/06	2006	BenefitMall	Comrisk Insurance, Inc.	AZ	Independent Agency/Broker	Wholesale	EB & Consulting
05/01/06	2006	Hilb Rogal & Hobbs Company	Associated Wholesale Grocers, Inc. (book of business)		Public Broker
05/01/06	2006	Hub International Limited	Hirsch Wolf & Co., LLC	NY	Public Broker	Retail	P&C
05/01/06	2006	Logan Lavelle Hunt Insurance Agency LLC	Winston & Company Benefits Inc.	KY	Independent Agency/Broker	Retail	EB & Consulting
05/01/06	2006	Walker Brothers Insurance Inc.	First Arkansas Insurance / Springdale Inc.	AR	Independent Agency/Broker	Retail	P&C
05/01/06	2006	Wells Fargo & Company	Key Insurance Agency, LLC	AK	Bank or Thrift	Retail	P&C
04/30/06	2006	Bollinger, Inc.	Haas & Haas Insurance	NJ	Independent Agency/Broker	Retail	P&C
04/27/06	2006	Maiden Financial, Inc.	CNB Insurance Services Inc.	WV	Independent Agency/Broker	Retail	P&C
04/25/06	2006	Eastern Bank Corporation	McAlpine Insurance Agency	MA	Bank or Thrift	Retail	P&C
04/25/06	2006	Eastern Bank Corporation	South River Insurance Agency Inc.	MA	Bank or Thrift	Retail	P&C
04/21/06	2006	Brown & Brown, Inc.	Insurance agencies	FL	Public Broker
04/20/06	2006	Brooke Corporation	InsWeb Corporation(P&C book of business)		Other Buyer	Retail	P&C
04/19/06	2006	Olympus Partners	Tanenbaum-Harber Company, Inc.	NY	Other Buyer	Retail	Multi Line
04/19/06	2006	Olympus Partners	Thesco Benefits LLC	NY	Other Buyer	Retail	EB & Consulting
04/11/06	2006	Delphi Financial Group, Inc.	Integrated DisAbility Resources Inc.	ME	Insurance Company	Retail	EB & Consulting
04/03/06	2006	Health Benefits Direct Corporation	Insurance Specialist Group Inc.	FL	Independent Agency/Broker	Retail	EB & Consulting
04/03/06	2006	National Builders Insurance Services, Inc.	Special Risk Services Group, LLC	IL	Independent Agency/Broker	Wholesale	P&C
04/02/06	2006	Alliant Insurance Services	ProRisk Underwriters, Ltd.	WI	Independent Agency/Broker	Wholesale	P&C
04/01/06	2006	Arthur J. Gallagher & Co.	Sobieski & Bradley Inc.	UT	Public Broker	Wholesale	P&C
04/01/06	2006	CBIZ, Inc.	Burnham Colman Kaelin & Walker	MO	Public Broker	Retail	P&C
04/01/06	2006	Tompkins Trustco, Inc.	Potter Agency		Bank or Thrift	Retail	P&C
04/01/06	2006	Wells Fargo & Company	Edward C. Brodie Insurance Brokers, Inc.	CA	Bank or Thrift	Retail	P&C
03/31/06	2006	AHM Financial Group	Anderson Hall Marsh & Co.	MO	Other Buyer	Retail	P&C
03/31/06	2006	Brown & Brown, Inc.	High Country Insurance Managers, LLC	CO	Public Broker	Wholesale	P&C
03/30/06	2006	First Banks, Inc.	Adrian N Baker & Co.	MO	Bank or Thrift	Retail	P&C
03/17/06	2006	Hub International Limited	Kagan Life & Health Insurance Services, Inc	CA	Public Broker	Retail	EB & Consulting
03/10/06	2006	New Mexico Banquest Corporation	Gerding, McMahon, Padon & Koller, Inc	NM	Bank or Thrift	Retail	P&C
03/07/06	2006	Hub International Limited	eBenefits Group LLC	CT	Public Broker	Retail	EB & Consulting
03/07/06	2006	USI Holdings Corporation	EBC, Inc.	FL	Public Broker	Retail	EB & Consulting
03/06/06	2006	North American Group	Davis Duke & Co. Insurance Agency Inc.	OK	Independent Agency/Broker	Retail	P&C
03/03/06	2006	Bollinger, Inc.	Undisclosed Seller (three insurance brokers)		Independent Agency/Broker
03/02/06	2006	Answer Financial Inc.	InsLogic Corp.	TN	Independent Agency/Broker	Retail	P&C
03/01/06	2006	Employees and managers	First MainStreet Insurance, Ltd.	CO	Independent Agency/Broker	Retail	P&C
03/01/06	2006	Hilb Rogal & Hobbs Company	Welch Company	TX	Public Broker	Retail	EB & Consulting
03/01/06	2006	Hub International Limited	Royal Bank of Scotland Group, Plc (three insurance brokers)		Public Broker	Retail	P&C
03/01/06	2006	Tompkins Trustco, Inc.	Farrell-Messler Agency, LLC	NY	Bank or Thrift	Retail	P&C
02/27/06	2006	Eastern Bank Corporation	Howland Insurance Agency, Inc.	MA	Bank or Thrift	Retail	P&C
02/27/06	2006	Love Savings Holding Company	Penuel Benefits Group Inc.	MO	Bank or Thrift	Wholesale	EB & Consulting
02/23/06	2006	Hilb Rogal & Hobbs Company	Zutz Associates Inc.	DE	Public Broker	Retail	P&C
02/23/06	2006	Zutz Associates Inc.	RTA Financial Services Inc.	PA	Independent Agency/Broker
02/22/06	2006	Community Banks, Inc.	Wiley Insurance Agency Inc.	PA	Bank or Thrift	Retail	P&C
02/16/06	2006	Brown & Brown, Inc.	Bill Setser Insurance Inc.	AR	Public Broker	Retail	EB & Consulting
02/16/06	2006	NFP Corp.	Wolf & Cohen Inc.	VA	Public Broker	Retail	EB & Consulting
02/15/06	2006	U.S. Risk Insurance Group, Inc.	Lighthouse Underwriters LLC	VA	Independent Agency/Broker	Wholesale	P&C
02/07/06	2006	Stewart Information Services Corporation	Texas State Title	TX	Insurance Company	Retail	P&C
02/01/06	2006	M&T Bank Corporation	Hess Egan Hagerty & L'Hommedieu Inc.	MD	Bank or Thrift	Retail	P&C
02/01/06	2006	Seattle Financial Group, Inc.	Turnure & Associates LLC	WA	Bank or Thrift	Retail	P&C
02/01/06	2006	Willis Group Holdings Limited	Gueits Adams & Company	NY	Public Broker	Retail	P&C
01/31/06	2006	DCAP Group, Inc.	Mid-Hudson Valley Brokerage LLC (book of business)	NY	Insurance Company	Retail	P&C
01/27/06	2006	AssuranceAmerica Corporation	Insurance Center Inc.	FL	Insurance Company	Retail	P&C
01/23/06	2006	Baldwin Resource Group, Inc.	Meacham Group	WA	Independent Agency/Broker	Retail	EB & Consulting
01/19/06	2006	Sandy Spring Bancorp, Inc.	Neff & Associates	MD	Bank or Thrift	Retail	P&C
01/16/06	2006	AssuranceAmerica Corporation	Tampa No-Fault Insurance Agency Inc.	FL	Insurance Company	Retail	P&C
01/12/06	2006	First Acceptance Corporation	Insurance companies	IL	Insurance Company
01/09/06	2006	Duncan Fraser & Bridges Insurance Agency Inc.	Edmond Deaton & Stephens Insurance Agency Inc.	TX	Independent Agency/Broker	Retail	P&C
01/09/06	2006	TowneBank	Brooks Agency Inc.	VA	Bank or Thrift	Retail	P&C
01/09/06	2006	USI Holdings Corporation	Mahoney & Associates Insurance Brokers Inc.	MA	Public Broker	Retail	P&C
01/04/06	2006	Arizona Federal Credit Union	The Arizona Group Inc.	AZ	Other Buyer	Retail	Multi Line
01/04/06	2006	Investor group	Hub International Limited (Talbot Financial hub)	CA	Other Buyer	Retail	P&C
01/03/06	2006	Sky Financial Group, Inc.	Peter B. Burke Agency Inc.	PA	Bank or Thrift	Retail	P&C
01/01/06	2006	Argus Insurance, Inc.	R F Strain Insurance, Inc.	WA	Independent Agency/Broker	Retail	P&C
01/01/06	2006	Arthur J. Gallagher & Co.	Benefit Management Group, Inc.	FL	Public Broker	Retail	EB & Consulting
01/01/06	2006	Bollinger, Inc.	MLW Services Inc.	NY	Independent Agency/Broker	Retail	P&C
01/01/06	2006	Brower Insurance Agency, LLC	Bauer Insurance Agency	OH	Independent Agency/Broker	Retail	P&C
01/01/06	2006	CBIZ, Inc.	Valley Global Insurance Brokers	CA	Public Broker	Retail	P&C
01/01/06	2006	Colonial Insurance Agency, LLC	Kenneth Fake Agency, Inc.	NY	Independent Agency/Broker	Retail	P&C
01/01/06	2006	Lauber Insurance Agency	Will Insurance Agency	OH	Independent Agency/Broker	Retail	P&C
01/01/06	2006	Minden Bancorp, Inc. (MHC)	Woodard Walker Insurance Agency Inc.	LA	Bank or Thrift	Retail	P&C
01/01/06	2006	NFP Corp.	Undisclosed Seller (seven insurance brokers & One broker/dealer)		Public Broker
01/01/06	2006	NIA Group LLC	Crown Agency Inc.	NY	Independent Agency/Broker	Retail	P&C
12/31/05	2005	Lon Brown Company Inc.	Salin Bancshares, Inc. (P&C operations)		Independent Agency/Broker	Retail	P&C
12/31/05	2005	Management group	Carswell Insurance Services	SC	Independent Agency/Broker	Retail	P&C
12/31/05	2005	Northrim BanCorp Inc.	Northrim Benefits Group	AK	Bank or Thrift	Retail	EB & Consulting
12/31/05	2005	Pillar Group Risk Management Inc.	Coapstick Insurance Agency Inc.	IN	Independent Agency/Broker	Retail	P&C
12/31/05	2005	Undisclosed buyer	TBG Lynch		Other Buyer	Retail	EB & Consulting
12/30/05	2005	A.N.B. Holding Company, Ltd.	Sleeper Sewell & Company	TX	Other Buyer	Retail	P&C
12/28/05	2005	Clark, Inc.	MedEx	TX	Public Broker	Wholesale	EB & Consulting
12/28/05	2005	Hub International Limited	Employee Benefit Specialists, Inc.	CO	Public Broker	Retail	EB & Consulting
12/22/05	2005	Arthur J. Gallagher & Co.	Brokerage Professionals, Inc.	PA	Public Broker	Retail	P&C
12/21/05	2005	Rainier Pacific Financial Group, Inc.	Christopherson-Boze/Holman Ins	WA	Bank or Thrift	Retail	P&C
12/16/05	2005	Farm Bureau Mutual Insurance Company	Crop 1 Insurance Direct Inc.	IA	Insurance Company	Retail	P&C
12/13/05	2005	Brown & Brown, Inc.	Axiom Intermediaries, LLC	NC	Public Broker	Retail	P&C
12/13/05	2005	USI Holdings Corporation	IBSI LLC	PA	Public Broker	Wholesale	EB & Consulting
12/12/05	2005	First American Corporation	TransContinental Title Company	FL	Insurance Company	Retail	P&C
12/12/05	2005	Hallmark Financial Services, Inc.	Aerospace Holdings, LLC	TX	Insurance Company	Wholesale	P&C
12/12/05	2005	S&T Bancorp, Inc.	Holsinger Agency, Inc.	PA	Bank or Thrift	Retail	P&C
12/08/05	2005	Hub International Limited	Impact Insurance Services Inc.		Public Broker	Retail	P&C
12/07/05	2005	Lawson-Hawks Insurance Associates, Inc.	El Dorado Hills California Healthcare Property/Casualty Group	CA	Independent Agency/Broker	Retail	P&C
12/07/05	2005	Northwest Farm Credit Services, ACA	Star Insurance Agency	ID	Bank or Thrift	Retail	P&C
12/06/05	2005	Willis Group Holdings Limited	International Insurance Brokers Inc.	NY	Public Broker	Retail	P&C
12/05/05	2005	Johnson Financial Group, Inc.	Warren Group Inc.	WI	Bank or Thrift	Retail	P&C
12/05/05	2005	Vulcan Inc.	International Catastrophe Insurance Managers LLC	CO	Other Buyer	Wholesale	P&C
12/01/05	2005	Brown & Brown, Inc.	de Arrieta Insurance Agency Inc.	NV	Public Broker	Retail	P&C
12/01/05	2005	Management group	Don Rizzo Associates Inc.	MD	Independent Agency/Broker
12/01/05	2005	Wells Fargo & Company	M.J. Beaven Agency Inc.	OH	Bank or Thrift	Retail	P&C
11/30/05	2005	Undisclosed buyer	Brooke Corporation (Texas All Risk/T.A.R. Hldg Company)	TX	Other Buyer	Wholesale	P&C
11/22/05	2005	TD Banknorth Inc.	Boothby & Bartlett Company	ME	Bank or Thrift	Retail	P&C
11/17/05	2005	Henderson Brothers Inc.	John R. Couy Insurance Agencies Inc.	PA	Independent Agency/Broker	Retail	P&C
11/16/05	2005	Charles L. Crane Agency	Star Insurance Agency	FL	Independent Agency/Broker	Retail	P&C
11/15/05	2005	Harleysville National Corporation	Cornerstone Companies	PA	Bank or Thrift	Retail	EB & Consulting
11/15/05	2005	Sussex County Insurance Agency Inc.	US Insurance Agency Inc.	NJ	Independent Agency/Broker	Retail	P&C
11/10/05	2005	HCC Insurance Holdings, Inc.	Perico Ltd.	MO	Insurance Company	Wholesale	EB & Consulting
11/09/05	2005	Hallmark Financial Services, Inc.	Investor group (Texas insurance agencies)		Insurance Company
11/08/05	2005	473 Broadway Holding Corporation	Clients First Insurance Agency Inc.	NY	Bank or Thrift	Retail	P&C
11/02/05	2005	Cendant Corp.	Texas title companies		Other Buyer	Retail	P&C
11/01/05	2005	Bollinger, Inc.	Rork Agency, Inc.	NJ	Independent Agency/Broker	Retail	P&C
11/01/05	2005	Brown & Brown, Inc.	Timothy R. Downey Insurance Inc.	IN	Public Broker	Retail	P&C
11/01/05	2005	F.N.B. Corporation	Penn Group Insurance Inc.	PA	Bank or Thrift	Retail	EB & Consulting
11/01/05	2005	Meadowbrook Insurance Group, Inc.	Insurance & Benefit Consultants	FL	Insurance Company	Retail	EB & Consulting
11/01/05	2005	South Financial Group Inc.	Lossing Insurance Agency	FL	Bank or Thrift	Retail	P&C
11/01/05	2005	Wescom Credit Union	Lopez Insurance Agency, Inc.	CA	Other Buyer	Retail	P&C
10/28/05	2005	First Sleepy Eye Bancorporation, Inc.	Stearns Financial Services, Inc. (insurance broker branch)	MN	Bank or Thrift	Retail	EB & Consulting
10/27/05	2005	Oneida Financial, MHC	Parsons Cote & Company Inc.	NY	Bank or Thrift	Retail	P&C
10/26/05	2005	Berkshire Hills Bancorp, Inc.	MacDonald & Johnson Inc.	MA	Bank or Thrift	Retail	P&C
10/26/05	2005	Berkshire Hills Bancorp, Inc.	Onofrey Insurance and Financial Services Inc.	MA	Bank or Thrift	Retail	EB & Consulting
10/17/05	2005	First Insurance Company of Hawaii, Ltd.	Kenneth L Garner Insurance Agency	HI	Insurance Company	Retail	P&C
10/13/05	2005	Enterprise Financial Services Corp	Millennium Brokerage Group LLC	TN	Bank or Thrift	Retail	EB & Consulting
10/10/05	2005	Aon Corporation	Sam D. Pipino Agency LLC	OH	Public Broker	Retail	P&C
10/06/05	2005	Alliance Bankshares Corporation	Danaher Insurance Agency	VA	Bank or Thrift	Retail	P&C
10/05/05	2005	Distinguished Programs Real Estate RRG	S.E.S. Insurance Services Inc.	CA	Insurance Company	Retail	P&C
10/05/05	2005	Wells Fargo & Company	Somerton Student Insurance Services Inc.	CA	Bank or Thrift	Retail	P&C
10/04/05	2005	Sky Financial Group, Inc.	Becker-McDowell Agency Inc.	OH	Bank or Thrift	Retail	EB & Consulting
10/04/05	2005	Sky Financial Group, Inc.	Steiner Insurance Agency Inc.	OH	Bank or Thrift	Retail	P&C
10/01/05	2005	Brown & Brown, Inc.	Weible & Cahill LLC	IL	Public Broker	Retail	P&C
10/01/05	2005	Soucy Insurance Agency	Faubert Insurance Center	RI	Independent Agency/Broker	Retail	P&C
10/01/05	2005	USI Holdings Corporation	Dascit/White & Winston Inc.	NY	Public Broker	Wholesale	EB & Consulting
09/30/05	2005	Hub International Limited	CEB Business Insurance Services	CA	Public Broker	Retail	EB & Consulting
09/30/05	2005	Teachers Credit Union	Hruska Insurance Agency, Inc.	IN	Other Buyer	Retail	P&C
09/28/05	2005	Empire Equity Group, Inc.	Gallo American Calder Insurance	FL	Other Buyer	Retail	P&C
09/28/05	2005	Van Gilder Insurance Corp.	AirSure Limited LLC	CO	Independent Agency/Broker	Retail	P&C
09/28/05	2005	Wells Fargo & Company	J S Crop Insurance Inc.	IN	Bank or Thrift	Retail	P&C
09/22/05	2005	Investor group	Swett & Crawford Group Inc.		Other Buyer	Wholesale	P&C
09/15/05	2005	AmWINS Group	American Wholesale Insurance Group, Inc.	NC	Independent Agency/Broker- Private Capital Backed	Wholesale	P&C
09/09/05	2005	Beecher Carlson Holdings Inc.	Lane & Associates Inc.	GA	Independent Agency/Broker	Retail	P&C
09/07/05	2005	J.C. Flowers & Co. LLC	Crump Group Inc.	TX	Other Buyer	Wholesale	P&C
09/07/05	2005	Nasdaq Stock Market, Inc.	Carpenter Moore Insurance Services Inc.	CA	Other Buyer	Retail	P&C
09/02/05	2005	American Equity Investment Life Holding Company	American Equity Investment Service Company	IA	Insurance Company	Retail	EB & Consulting
09/02/05	2005	Brown & Brown, Inc.	Fossi Group Inc.	CO	Public Broker	Retail	P&C
09/01/05	2005	Brown & Brown, Inc.	Nichols & Associates Inc.	PA	Public Broker	Retail	P&C
09/01/05	2005	First Merchants Corporation	Trustcorp Financial Services of Greenville, Inc.	OH	Bank or Thrift	Retail	EB & Consulting
09/01/05	2005	MidWestOne Financial Group, Inc.	Cook & Son Agency Inc.	IA	Bank or Thrift	Retail	P&C
09/01/05	2005	Oswald Companies	J.A. Ice & Associates	OH	Independent Agency/Broker	Retail	P&C
08/31/05	2005	Reynold's Capital LLC	Sentry West Insurance Services	UT	Other Buyer	Retail	Multi Line
08/25/05	2005	Diederich Inc.	Doctors' Financial Group Inc.	CO	Other Buyer	Retail	P&C
08/25/05	2005	USI Holdings Corporation	Richard B. Cross & Associates Inc.	OH	Public Broker	Retail	EB & Consulting
08/22/05	2005	USI Holdings Corporation	Winthrop Insurance Plans	CA	Public Broker	Retail	P&C
08/08/05	2005	Brown & Brown, Inc.	E&S Brokerage Services Inc.	NM	Public Broker	Wholesale	P&C
08/05/05	2005	Arthur J. Gallagher & Co.	Corporate Life Consultants Inc.	PA	Public Broker	Retail	EB & Consulting
08/03/05	2005	Hub International Limited	Blanchard Insurance Group Inc.	CO	Public Broker	Retail	P&C
08/02/05	2005	Hub International Limited	Kline Transportation Insurance Inc.	CA	Public Broker	Retail	P&C
08/02/05	2005	National Investment Managers, Inc.	Haddon Strategic Alliances, Inc.	NJ	Other Buyer	Wholesale	Multi Line
08/01/05	2005	Brown & Brown, Inc.	Alliance Insurance Services Inc.	CA	Public Broker	Retail	P&C
08/01/05	2005	Hub International Limited	Personal Lines Insurance Brokerage Inc.	NJ	Public Broker	Retail	P&C
08/01/05	2005	Sky Financial Group, Inc.	Benefit Design Agency of Ohio Inc.	OH	Bank or Thrift	Retail	EB & Consulting
07/31/05	2005	California Insurance Center, Inc.	BCS Inc. (book of business)		Independent Agency/Broker
07/31/05	2005	Evans Bancorp, Inc.	Federspiel & Truax Agency, Inc.	NY	Bank or Thrift	Retail	P&C
07/29/05	2005	Bankers Insurance Center LLC	Bogan & Formeller Inc.	LA	Independent Agency/Broker	Retail	P&C
07/28/05	2005	American Financial Group, Inc.	Farmers Crop Insurance Alliance, Inc.	KS	Insurance Company	Retail	P&C
07/28/05	2005	Group Health Incorporated	ABC Health Plan Inc.	NY	Independent Agency/Broker	Retail	EB & Consulting
07/27/05	2005	USI Holdings Corporation	HRB Associates Inc.	MA	Public Broker	Retail	EB & Consulting
07/26/05	2005	Stewart Information Services Corporation	Central Title LLC	NM	Insurance Company	Retail	P&C
07/25/05	2005	Taurus V LLC	Kohlrusch Title Services	MN	Other Buyer	Retail	P&C
07/22/05	2005	MEM Financial Solutions Inc.	Land Research Solutions Inc.	NY	Other Buyer	Retail	P&C
07/14/05	2005	Fidelity National Financial, Inc.	STG Associates Inc.	NY	Insurance Company	Retail	P&C
07/13/05	2005	Crawford Advisors LLC	Risk Management Group Inc.	PA	Independent Agency/Broker	Retail	EB & Consulting
07/13/05	2005	DCAP Group, Inc.	Undisclosed Seller (three storefront insurance agencies)		Insurance Company
07/12/05	2005	FMT of Billings LLC	First Montana Title Company of Billings	MT	Independent Agency/Broker	Retail	P&C