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Broker M&A Down Slightly in Q1 as Some Buyers Take ‘Strategic Pause’

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The 22 acquirers that make up the Sica Fletcher Index were involved in 111 agent-broker deals in the first quarter 2024, totaling $284 million in revenue.

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That is a 21% drop in revenue from what was acquired during the same quarter a year ago when 116 deals were made, said Sica Fletcher, an insurance industry-focused advisory firm who added that many of its index members “demonstrated steady increases in Q1 2024 deals compared to Q1 2023, while others have taken a strategic pause.”

“Investors continue to be more selective when evaluating acquisition opportunities, with many well-funded buyers in the market still mindful of the high cost of capital,” the firm said in its Q1 2024 Agency & Broker Buyer Index. Sica Fletcher said the index accounts for 71% of deal activity in the first quarter.

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BroadStreet Partners led the index during the first quarter for the second consecutive year, while Gallagher matched its total of 10—tied with Hub International.

Source: Sica | Fletcher

The 4 public companies in the index made 14 acquisitions while private-equity backed buyers made 97.

Topics
Mergers & Acquisitions
Agencies

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