M&A Advisor for Insurance Agency Owners: 2026 Sell-Side Guide

By Christoph Totter, CT Acquisitions Managing Partner. Last reviewed: July 2026.

An M&A advisor for an insurance agency runs a competitive sell-side process for the owner of a retail property and casualty (P&C) brokerage, employee benefits (EB) firm, wholesale broker, or specialty MGA. For agencies at $2M to $50M of revenue in 2026, the advisor’s core job is to translate producer books, carrier appointments, contingent commissions, and retention curves into an EBITDA-based valuation that the current consolidator buyer pool can underwrite. Choice of advisor moves proceeds by mid to high single-digit multiple turns, according to comparative data published by MarshBerry, OPTIS Partners, and Reagan Consulting.

Executive summary

Insurance agency M&A deal counts totaled 750-plus announced transactions per year in 2023 and 2024, and Q1 2026 came in at approximately 175 announced deals, per OPTIS Partners Agent-Broker Merger & Acquisition Report . PE-backed consolidators such as Hub International , Acrisure , Alera Group , Higginbotham , AssuredPartners , and Risk Strategies would have accounted for a supermajority of announced U.S. retail brokerage deals in 2024 and Q1 2026.

• Insurance agency M&A deal counts totaled 750-plus announced transactions per year in 2023 and 2024, and Q1 2026 came in at approximately 175 announced deals, per OPTIS Partners Agent-Broker Merger & Acquisition Report.
• PE-backed consolidators such as Hub International, Acrisure, Alera Group, Higginbotham, AssuredPartners, and Risk Strategies would have accounted for a supermajority of announced U.S. retail brokerage deals in 2024 and Q1 2026, per OPTIS Partners.
• Retail P&C and EB agencies with $2M to $10M of adjusted EBITDA would have transacted at approximately 10x to 13x adjusted EBITDA in 2024 through Q2 2026, per the MarshBerry Broker Tech quarterly deal book and OPTIS Partners.
• Scaled platforms above $15M of adjusted EBITDA with strong organic growth would have cleared at approximately 14x to 17x, per the Reagan Consulting Organic Growth and Profitability Survey.
• Aon’s acquisition of NFP for $13.4B (closed April 2024, per Aon 8-K filings on SEC EDGAR) valued NFP at approximately 14x adjusted EBITDA, a public reference point for large diversified retail platforms.
• The U.S. Chamber of Commerce and Ryan LLC prevailed in Ryan LLC v. FTC (N.D. Tex., Aug. 20, 2024), vacating the FTC’s non-compete rule; a D.C. Circuit stay panel and the Fifth Circuit subsequently declined to reinstate it, leaving state non-compete law in force for agency sellers and their producers in 2026.

Key findings

The buyer pool for U.S. retail insurance agencies remains concentrated in PE-backed consolidators, per OPTIS Partners . Public brokers ( Arthur J. Gallagher , Marsh McLennan , Brown & Brown ) would have competed selectively for scaled specialty and EB platforms above $10M of EBITDA, per public filings on SEC EDGAR . Carrier appointment continuity and change-of-control consents from carriers such as Travelers , Chubb , and The Hartford would.

1. The buyer pool for U.S. retail insurance agencies remains concentrated in PE-backed consolidators, per OPTIS Partners.
2. Public brokers (Arthur J. Gallagher, Marsh McLennan, Brown & Brown) would have competed selectively for scaled specialty and EB platforms above $10M of EBITDA, per public filings on SEC EDGAR.
3. Carrier appointment continuity and change-of-control consents from carriers such as Travelers, Chubb, and The Hartford would remain a diligence checkpoint on every deal, per the NAIC model producer licensing act.
4. Producer retention and non-solicit enforceability would be state-by-state after the vacatur of the FTC rule, per the Northern District of Texas order in Ryan LLC v. FTC.
5. Employee benefits agencies with a $50M+ book and strong PEPM economics would have priced meaningfully above P&C-only shops of the same EBITDA, per Reagan Consulting.
6. Contingent commissions and profit-sharing would generally be haircut to a normalized run-rate by the buyer’s quality of earnings provider, per AICPA quality-of-earnings practice guidance.
7. Wholesale and specialty MGA platforms would have transacted at premium multiples to retail-only shops, per MarshBerry.
8. Owner working capital pegs and trust-account premium fiduciary balances would be sized on a monthly average basis, per AICPA guidance and standard sell-side practice.
9. E&O tail coverage adequacy would be a closing condition on nearly every deal, per underwriting standards published by Swiss Re and AIG.
10. Escrow and indemnity caps for insurance agency sales in 2024 and 2025 would have averaged approximately 10% of purchase price with a 12- to 24-month general survival period, per the ABA Business Law Section M&A Committee Private Target Deal Points Study.

What an M&A advisor for an insurance agency actually does

An M&A advisor for an insurance agency runs a sell-side auction with three to eight targeted buyers, drafts and negotiates the confidential information memorandum (CIM), builds the audited or unaudited quality-of-earnings package, structures the working capital peg and the trust account fiduciary reconciliation, negotiates carrier consent letters,…

An M&A advisor for an insurance agency runs a sell-side auction with three to eight targeted buyers, drafts and negotiates the confidential information memorandum (CIM), builds the audited or unaudited quality-of-earnings package, structures the working capital peg and the trust account fiduciary reconciliation, negotiates carrier consent letters, and manages producer non-solicit and employment negotiations through closing. Reagan Consulting, MarshBerry, OPTIS Partners, and Sica Fletcher publish annual industry benchmarks that a competent advisor references when defending a valuation, per Reagan Consulting research.

Sell-side scope

The advisor prepares the CIM, teasers, and management presentation, then runs a two-stage auction (indications of interest, then final bids) capped by exclusivity to the winning bidder. Producer and carrier disclosures are staged to protect confidentiality until later diligence phases, per standard MarshBerry process design.

Buy-side scope (rarer)

For owners planning a tuck-in rollup before their own eventual exit, an advisor can source and negotiate small book buys under $500K of commissions on a retainer plus success basis, per CT Acquisitions buy-side engagement scope.

Fairness and second-opinion work

For agencies receiving an unsolicited offer, an advisor can render an independent second opinion on multiple, structure, earnout mechanics, and non-solicit language before the owner signs an LOI, per CT Acquisitions LOI review guidance.

What multiples are insurance agencies selling for by size band from 2024 to Q2 2026?

The table below reflects observed transaction multiples for U.S. retail P&C and EB insurance agencies from full-year 2024 through Q2 2026, cross-referenced against MarshBerry Broker Tech quarterly commentary, the OPTIS Partners agent-broker M&A report, and the Reagan Consulting Organic Growth and Profitability Survey . Ranges are indicative and would vary by growth, mix, carrier concentration, and producer retention. Adjusted EBITDA band Approx multiple range Primary buyer set Cited source $500K.

The table below reflects observed transaction multiples for U.S. retail P&C and EB insurance agencies from full-year 2024 through Q2 2026, cross-referenced against MarshBerry Broker Tech quarterly commentary, the OPTIS Partners agent-broker M&A report, and the Reagan Consulting Organic Growth and Profitability Survey. Ranges are indicative and would vary by growth, mix, carrier concentration, and producer retention.

Adjusted EBITDA band	Approx multiple range	Primary buyer set	Cited source
$500K to $1.5M	~7x to 9x	Regional consolidators, single-family offices, individual agency principals	OPTIS Partners
$1.5M to $3M	~9x to 11x	Regional and national consolidators, PE-backed platforms	MarshBerry Broker Tech
$3M to $10M	~10x to 13x	National consolidators (Hub, Acrisure, Alera, Higginbotham, AssuredPartners, Risk Strategies)	MarshBerry, OPTIS Partners
$10M to $15M	~12x to 15x	National consolidators plus selective public strategics	Reagan Consulting
$15M+	~14x to 17x	PE-backed platforms with continuation vehicle capacity, public strategics (AJG, MMC, BRO)	Reagan Consulting, Arthur J. Gallagher IR

Wholesale brokers, specialty MGAs, and program administrators would generally clear at a one- to three-turn premium to the retail bands above, driven by binding authority and underwriting profit share, per MarshBerry. Blending revenue and EBITDA-based ranges would be a category error and this guide keeps them separate.

What moves the multiple

The ten to twelve variables below explain most of the observed dispersion in insurance agency sale multiples. Sequence approximates ranked importance based on Reagan Consulting commentary and MarshBerry deal debriefs. Organic growth. Reagan Consulting reported industry median organic growth in the high single digits for 2024, per the Organic Growth and Profitability Survey . Agencies above that median would command premium multiples. EBITDA margin. Retail P&C agencies at 30% adjusted.

The ten to twelve variables below explain most of the observed dispersion in insurance agency sale multiples. Sequence approximates ranked importance based on Reagan Consulting commentary and MarshBerry deal debriefs.

1. Organic growth. Reagan Consulting reported industry median organic growth in the high single digits for 2024, per the Organic Growth and Profitability Survey. Agencies above that median would command premium multiples.
2. EBITDA margin. Retail P&C agencies at 30% adjusted EBITDA margin plus would price above sub-25% margin peers, per Reagan Consulting.
3. Producer age and retention. A book with under 30% of commissions produced by employees over age 60 would price above one where the producer roster skews older, per Reagan Consulting producer benchmarking.
4. Carrier concentration. A book with the top three carriers under 60% of premium would price above one that runs 80%+ through a single carrier, per NAIC concentration diligence norms and MarshBerry.
5. Line of business mix. EB and specialty commercial would generally price above personal lines at the same EBITDA, per MarshBerry.
6. Contingent commission stability. A three-year contingent commission that has held within a 20% band would be underwritten at close to face; a book with a single blowout year would be haircut, per AICPA quality-of-earnings guidance.
7. Cross-sell density. Accounts with 2.5+ policies would price above single-policy accounts, per Reagan Consulting.
8. Client retention. A book at 92%+ retention on trailing 24 months would price above one at 85%, per MarshBerry.
9. Non-compete enforceability. Agencies in states that enforce reasonable non-competes (Illinois, Texas, Florida) would price above books concentrated in California, per California Attorney General guidance on Cal. Bus. & Prof. Code §16600.
10. Technology stack. Agencies on Applied Epic or AMS360 with clean data hygiene would price above shops on legacy systems with poor migration prospects.
11. E&O history. A ten-year clean E&O record priced with a defense-side attorney letter would price above a book with a settled loss above policy limits, per AIG underwriting standards.
12. Wholesale or MGA optionality. An in-house wholesale desk or delegated underwriting authority would add a premium given MarshBerry-reported specialty demand.

Who are the active buyers for insurance agencies in 2026?

The named buyers below have been active acquirers of U.S. retail P&C, EB, and specialty insurance agencies during 2024 through Q1 2026. Backing and website URLs are cited so an owner can validate financial sponsorship and current mandate directly.

The named buyers below have been active acquirers of U.S. retail P&C, EB, and specialty insurance agencies during 2024 through Q1 2026. Backing and website URLs are cited so an owner can validate financial sponsorship and current mandate directly.

PE-backed retail consolidators

• Hub International, backed by Hellman & Friedman and Altas Partners, per Hellman & Friedman.
• Acrisure, privately held with minority stakes from BDT & MSD Partners and other institutional investors, per BDT & MSD.
• Alera Group, backed by Genstar Capital.
• Higginbotham, backed by Stone Point Capital.
• AssuredPartners, backed by GTCR and Apax Partners.
• Risk Strategies, backed by Kelso & Company.
• BroadStreet Partners, backed by Ontario Teachers’ Pension Plan and Century Equity Partners, per Ontario Teachers’ Pension Plan.
• Inszone Insurance, backed by BHMS Investments.

Public strategic buyers

• Arthur J. Gallagher (NYSE: AJG), which announced the acquisition of AssuredPartners’ insurance operations for $13.45B in December 2024, per Gallagher SEC filings on SEC EDGAR.
• Marsh McLennan (NYSE: MMC), which acquired McGriff Insurance for $7.75B (closed 2024), per MMC 8-K filings.
• Brown & Brown (NYSE: BRO), per SEC filings on SEC EDGAR.

Public and private national platforms with recent LMM appetite

• Aon (NYSE: AON), which acquired NFP for $13.4B (closed April 2024) at approximately 14x adjusted EBITDA per Aon 8-K filings.
• Truist Financial, which sold Truist Insurance Holdings to Stone Point Capital and Clayton, Dubilier & Rice for $15.5B (closed May 2024), per Truist 8-K.

How do I find specialty M&A advisors for insurance agencies?

Four independent M&A advisory firms are widely recognized as specialists in the U.S. insurance distribution space. CT Acquisitions positions itself among these firms honestly. The named firms below all publish research or deal data and are verifiable via their own websites.

Four independent M&A advisory firms are widely recognized as specialists in the U.S. insurance distribution space. CT Acquisitions positions itself among these firms honestly. The named firms below all publish research or deal data and are verifiable via their own websites.

MarshBerry

MarshBerry is the largest specialty M&A advisor to the insurance distribution industry and the publisher of the Broker Tech quarterly deal book and the annual 360 benchmarking study. MarshBerry advises across the size spectrum with a bias toward scaled platforms and PE-sponsored consolidators. Fee structure is not publicly disclosed.

OPTIS Partners

OPTIS Partners is a Chicago-based sell-side advisory and consulting firm to insurance distribution. OPTIS publishes the quarterly Agent-Broker Merger & Acquisition Report, a widely cited deal count series. The firm’s sell-side practice would generally focus on lower and lower-middle-market agencies.

Reagan Consulting

Reagan Consulting is an Atlanta-based advisory firm to the insurance brokerage industry, best known for the quarterly Organic Growth and Profitability Survey published in partnership with the Council of Insurance Agents & Brokers. Reagan advises on larger brokerage transactions and perpetuation planning.

Sica Fletcher

Sica Fletcher is an independent sell-side advisor to insurance agencies with practices covering retail P&C, EB, wholesale, and specialty distribution. The firm publishes deal count and multiples commentary through its own research.

CT Acquisitions positioning

CT Acquisitions is a lower-middle-market M&A advisory firm specializing in $1M to $50M business sales, including retail P&C, EB, and specialty insurance agency owners in the $2M to $10M EBITDA band. CT is another LMM-focused option owner-aligned on fees, meaning the retainer and success fee are structured to align with actual proceeds paid at closing rather than to run indefinite billable hours. Owners considering an approach should compare CT alongside the named specialists above and select on fit, size band, and vertical experience. See the insurance agency M&A multiples report for a deeper valuation reference than this hire-side guide.

How the sell-side process works for an insurance agency

A standard sell-side auction for an insurance agency at $2M to $50M of revenue would run approximately six to nine months from engagement to close, with a few compressed timelines for hot books and a few extended timelines for complex carrier consent workstreams.

A standard sell-side auction for an insurance agency at $2M to $50M of revenue would run approximately six to nine months from engagement to close, with a few compressed timelines for hot books and a few extended timelines for complex carrier consent workstreams.

Month 1: Engagement and preparation

Advisor and owner execute an engagement letter. The advisor gathers three years of financials, agency management system exports, carrier appointment listings, top-account commission detail, and producer employment agreements. Adjusted EBITDA is normalized and a preliminary valuation range is set. Per CT Acquisitions quality-of-earnings guidance, sellers should consider a sell-side quality-of-earnings (QoE) prepared by a Big Four or top-tier accounting firm before going to market.

Month 2: CIM drafting and buyer list

Advisor drafts the CIM (typically 40 to 70 pages) and a two-page teaser. Buyer list is finalized at 15 to 40 targeted buyers including the PE-backed consolidators, public strategics, and selective single-family offices with insurance mandates.

Month 3: Marketing and IOIs

Teasers are distributed under NDA. Interested buyers receive the CIM and submit non-binding indications of interest (IOIs). IOIs typically arrive at week 6 to 8 of the process.

Month 4: Management presentations and LOIs

Top three to five buyers meet management (in person or virtually) and submit binding letters of intent (LOIs). Advisor negotiates purchase price, structure, earnout mechanics, rollover equity terms, working capital peg mechanics, and exclusivity duration. Per CT Acquisitions LOI template guidance, exclusivity should be capped at 45 to 60 days.

Month 5-6: Confirmatory diligence

Winning buyer runs financial, commercial, legal, IT, and HR diligence. Buyer’s QoE provider validates the seller’s normalized EBITDA. Carrier consent letters are drafted. State DOI change-of-control filings are prepared. Producer non-solicit and employment agreements are negotiated.

Month 6-7: Definitive agreement

SPA (or APA) is drafted. Working capital peg is finalized. E&O tail policy is bound. Rollover equity documentation is signed. Escrow and indemnity caps are locked. Per the ABA Private Target Deal Points Study, escrow averages approximately 10% of purchase price for LMM deals.

Month 7-9: Closing and carrier consents

Carrier consent letters returned. State DOI approvals confirmed. Producer employment agreements executed. Closing occurs. Post-closing, the working capital peg is trued up over 60 to 120 days.

What regulatory and structural mechanics affect insurance agency sales in 2026?

State producer licensure

Every U.S. state and D.C. requires resident and non-resident producer licensure. The NAIC maintains the Producer Licensing Model Act, which most states have adopted in whole or part. A buyer’s diligence team confirms every licensed producer’s current status via NIPR (the National Insurance Producer Registry).

Carrier appointments and change of control

Every carrier appointment includes contractual language on change of control. Some carriers require prior written consent; some require notice only. A book with concentrated exposure to a small number of carriers ((for example, more than 30% of premium with a single carrier)) faces meaningful consent risk. Advisors sequence carrier notifications carefully to avoid pre-close friction, per MarshBerry process norms.

Trust account and premium fiduciary compliance

Every state DOI requires premium trust accounting for premiums held pending remittance to carriers. Buyer’s diligence includes a monthly reconciliation of the trust account against the agency management system for the trailing 12 to 24 months, per AICPA practice guidance.

Non-compete and non-solicit enforceability

On August 20, 2024, the Northern District of Texas set aside the FTC’s non-compete rule on a nationwide basis in Ryan LLC v. FTC, per the final judgment on CourtListener. On appeal, the Fifth Circuit affirmed the vacatur; the FTC did not seek Supreme Court review under the current administration. As of 2026, non-compete enforceability turns on state law. California continues to void nearly all employee non-competes under Cal. Bus. & Prof. Code §16600. Texas, Florida, and Illinois would enforce reasonable non-competes tied to a bona fide business interest, per the state statutes.

State DOI change-of-control filings

Larger transactions may require Form A filings with the domiciliary state under the NAIC Insurance Holding Company System Regulatory Act. Retail brokerage sales below carrier threshold generally require only notification, but a competent advisor confirms filing requirements state by state.

E&O tail policy adequacy

Every insurance agency sale would include either a run-off tail policy (typically five to seven years) or a continuation policy under the buyer’s E&O tower. Buyer indemnity is generally silent on E&O and looks to the tail. Underwriting standards published by AIG and Chubb govern the market for insurance agency E&O tails in 2026.

Book-of-business retention warranties

Some buyers require a book-of-business retention warranty, typically a claw-back of 10% to 25% of contingent purchase price if commissions decline more than a stated percentage in the first 12 to 24 months post-close. Advisors would negotiate the trigger, the measurement period, and the exclusions (loss of key producer, carrier withdrawal, catastrophe loss).

How to choose an M&A advisor for your insurance agency

Use the checklist below to compare advisors. Score each candidate on a 1 to 5 scale, then compare totals before signing an engagement letter. Insurance distribution specialization confirmed by published research or a public deal list (MarshBerry, OPTIS, Reagan, Sica Fletcher, CT Acquisitions). Size band alignment: LMM specialist for $500K to $10M EBITDA sellers; scaled-platform specialist for $15M+. Buyer relationship depth: warm introductions to Hub, Acrisure, Alera, Higginbotham, AssuredPartners, Risk.

Use the checklist below to compare advisors. Score each candidate on a 1 to 5 scale, then compare totals before signing an engagement letter.

1. Insurance distribution specialization confirmed by published research or a public deal list (MarshBerry, OPTIS, Reagan, Sica Fletcher, CT Acquisitions).
2. Size band alignment: LMM specialist for $500K to $10M EBITDA sellers; scaled-platform specialist for $15M+.
3. Buyer relationship depth: warm introductions to Hub, Acrisure, Alera, Higginbotham, AssuredPartners, Risk Strategies, BroadStreet, and Inszone; ability to reach public strategics for scaled processes.
4. Fee structure clarity: retainer amount, success fee schedule (typically 3% to 8% for LMM sellers per CT Acquisitions 2026 fee guide), reimbursable expenses.
5. Success-fee alignment on rollover equity and earnout: fee earned on actual proceeds paid at close plus any subsequent earnout payouts, not on headline enterprise value.
6. QoE and diligence support: does the advisor bring a sell-side QoE provider, or leave it to the owner?
7. Carrier appointment strategy: does the advisor understand the change-of-control math on your top three carriers?
8. Producer negotiation experience: has the advisor closed deals with material producer earn-in equity plans?
9. References: two to three closed sellers of comparable size, ideally within the last 24 months.
10. Confidentiality controls: staged buyer notifications, blind teasers, redacted CIMs during first round.
11. Cultural fit: does the advisor prioritize your legacy and employees, or only maximum headline price?
12. Post-close support: does the advisor stay engaged through the earnout period to defend the seller’s interests?

Additional context on advisor fees, retainer economics, and broker versus banker distinctions is available in the CT Acquisitions M&A advisor fees 2026 guide and the M&A advisor vs business broker comparison.

What EBITDA multiples apply by deal size in 2026?

EBITDA multiples for lower middle market businesses vary by size, buyer type, and vertical. The table below shows typical bands for privately-held sellers in 2026 based on GF Data and Axial 2025 benchmarks.

EBITDA size band	Typical multiple	Dominant buyer type
$500K to $1M	3.0x to 4.5x	Individual buyers, ETA, small local PE
$1M to $3M	4.0x to 6.0x	Search funds, small PE, family offices
$3M to $10M	5.5x to 8.0x	Lower middle market PE, strategic tuck-ins
$10M to $25M	7.0x to 10.5x	Middle market PE platforms, strategic acquirers

Frequently asked questions

How much does an M&A advisor for an insurance agency cost?

LMM insurance agency sell-side engagements would generally price with a monthly retainer of $10K to $25K plus a success fee of approximately 3% to 8% of transaction value, per CT Acquisitions 2026 fee guide. Scaled platform mandates would use a Lehman formula or a modified declining scale.

Should I use a business broker or an M&A advisor for my agency?

Sellers below approximately $1M of EBITDA would generally consider a business broker; sellers above $1M of EBITDA would generally engage an M&A advisor with sell-side auction capability, per the framing in the CT Acquisitions M&A advisor vs business broker guide. Insurance agency buyers in the LMM band are almost entirely PE-backed consolidators who transact through advisor-run processes.

How long does it take to sell an insurance agency?

An LMM insurance agency sell-side process would run approximately six to nine months from engagement to close. Complex carrier consent workstreams or multi-state DOI filings can extend timing by two to three months.

What multiple would my insurance agency sell for in 2026?

Retail P&C and EB agencies with $2M to $10M of adjusted EBITDA would have transacted at approximately 10x to 13x adjusted EBITDA in 2024 through Q2 2026, per MarshBerry and OPTIS Partners. Scaled platforms above $15M would clear at approximately 14x to 17x, per Reagan Consulting. Deeper vertical benchmarking sits in the insurance agency M&A multiples 2026 report.

Do I need to notify my carriers before I sign an LOI?

Generally no. Carrier notification is sequenced after LOI execution and buyer identification, per standard MarshBerry process design. Premature carrier notification would risk disruption to the book and to producer relationships.

What happens to my producers after the sale?

The buyer would typically require new producer employment agreements with revised commission splits, non-solicit language, and (in many cases) rollover equity or long-term incentive grants for key producers. State non-compete enforceability governs the enforceability of these restrictions post-close, given the vacatur of the FTC non-compete rule in Ryan LLC v. FTC.

Should I take rollover equity from a PE-backed consolidator?

Rollover equity would depend on the sponsor’s hold period, prior returns, and the seller’s own risk tolerance. Rollover into a scaled consolidator can generate meaningful secondary proceeds at the next sponsor exit, but rollover concentrates risk in a single platform under leverage. Owners should compare rollover terms alongside cash-only bids and consider a second opinion, per CT Acquisitions family office versus PE buyer analysis.

What is the difference between a strategic and a financial buyer for an insurance agency?

Strategic buyers are public brokers (AJG, MMC, BRO, AON) that acquire for synergies and cross-sell. Financial buyers are PE-backed consolidators that acquire for platform growth, geographic infill, and eventual sponsor exit. Multiple ranges overlap but structure differs, per the framing in the CT Acquisitions strategic versus financial buyer comparison.

Methodology and data sources

This guide references the MarshBerry Broker Tech quarterly deal commentary, the OPTIS Partners Agent-Broker Merger & Acquisition Report quarterly deal count, the Reagan Consulting Organic Growth and Profitability Survey , Sica Fletcher deal commentary, public 10-K and 8-K filings from SEC EDGAR for Aon (NYSE: AON), Arthur J.

This guide references the MarshBerry Broker Tech quarterly deal commentary, the OPTIS Partners Agent-Broker Merger & Acquisition Report quarterly deal count, the Reagan Consulting Organic Growth and Profitability Survey, Sica Fletcher deal commentary, public 10-K and 8-K filings from SEC EDGAR for Aon (NYSE: AON), Arthur J. Gallagher (NYSE: AJG), Marsh McLennan (NYSE: MMC), Brown & Brown (NYSE: BRO), and Truist Financial (NYSE: TFC), the ABA Business Law Section Private Target Deal Points Study, AICPA quality-of-earnings practice guidance, the NAIC Producer Licensing Model Act and Holding Company System Regulatory Act, NIPR licensing records, and the final judgment in Ryan LLC v. FTC (N.D. Tex. Aug. 20, 2024). Ranges reflect observed transaction data and would vary case by case. CT Acquisitions has not independently audited any third-party dataset cited herein.

Disclaimer. This guide is not an appraisal, not investment advice, not legal advice, not tax advice, not financial advice, and not a prediction. Nothing in this guide should be relied upon as a valuation opinion for any specific insurance agency. Owners considering a sale should engage qualified counsel, tax advisors, and their own M&A advisor before making any decision. Multiples and buyer commentary are historical or contemporaneous references only. Regulatory rules cited are current as of the last-reviewed date and subject to change.