2026 Insurance Broker M&A Update: 
Navigating the Opportunities and Challenges

Following several years of record-setting transaction volume, 2025 was a year of normalization for insurance brokerage M&A. Deal count and acquired revenue both retreated from their 2021 peaks, yet valuations proved remarkably durable — average guaranteed multiples on deals above $1 million of EBITDA finished the year at 11.4x, only modestly below the 2024 high of 11.8x and roughly 20% above where they stood in 2020.

Key Takeaways Include:

• An overview of the 2025 insurance brokerage M&A market and outlook for 2026

• The latest trends in deal activity and valuation multiples

• How the buyer landscape and competitive dynamics are evolving

• Key factors driving valuations and seller proceeds in today’s market

• Why the mid-market remains particularly attractive for sellers