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Press Release: Sica | Fletcher Detects Quarterly Increase In M&A Activity in Q2 Index

Q2 Broker Buyer Index Shows a 16% Increase in Deal Volume Over Q1 2023


NEW YORK, NY - August 30, 2023 - Sica | Fletcher releases the Q2 2023 Agency & Broker Buyer Index. With 22 of the most active acquirers in the insurance brokerage space, the Sica | Fletcher Index indicates improvement over the previous quarter.


The Sica | Fletcher Agency & Broker Buyer Index is the most comprehensive report on insurance brokerage M&A activity in existence. It uses self-reported data provided by 22 of the industry’s most prolific acquirers to track deal activity. These 22 agent and broker acquirers accounted for 72% of all deal activity in the insurance brokerage space as of YTD June 2023.


According to the report, SF Index members acquired 257 Agents/Brokers through June 2023, totaling $1.16B in agency and broker revenue. Despite this representing a drop in acquisition volume compared to 2022, revenue was higher period-over-period due to the average acquired agency size being considerably larger in the first half of 2023 .


Hub International led the group in deal volume with 28, followed by Broadstreet Partners, Risk Strategies, and Assured Partners. While half of the Index Members increased deal volume, the other half slowed down, completing 60% fewer deals than YTD June 2022.


“Many Sica | Fletcher Index Members increased their total number of deals in Q2 2023 compared to Q1 2023. While we’re still seeing a more selective buyer market compared to 2022, a quarterly increase in deal volume is indicative of a healthy pipeline as macroeconomic pressures and concerns lessen as the year goes on,” says Managing Partner Mike Fletcher.


The quarterly report emphasizes the ever-growing presence of private equity-backed firms in insurance brokerage M&A. About 91% of SF Index transactions were executed by private equity-backed firms through YTD June 2023, continuing the trend observed year over year.


For more details, download the Q2 2023 Sica | Fletcher Agency & Broker Buyer Index here.


Preview of Sica | Fletcher June 2023 Broker Buyer Index

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About Sica | Fletcher: Sica | Fletcher is a strategic and financial advisory firm focused exclusively on the insurance industry. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $12,000,000,000 ($12 billion) in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Learn more at SicaFletcher.com.

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