Insurance agency acquirers we could document (2026-09)
| Acquirer | Owner / sponsor | HQ | Focus | Footprint (as stated) | Latest dated event (source) |
|---|---|---|---|---|---|
Arthur J. Gallagher | Public (NYSE: AJG) | Rolling Meadows, IL | Retail and wholesale brokerage | Completed 33 mergers in 2025, including AssuredPartners (about $13.8B, Aug 2025) | |
Brown & Brown | Public (NYSE: BRO) | Daytona Beach, FL | Retail, specialty and wholesale brokerage | Acquired Accession Risk Management Group (RSC Topco) in Q3 2025 | |
HUB International | Hellman & Friedman (control); $1.6B minority investment at $29B enterprise value (May 2025) | Not stated | Retail brokerage, benefits, wealth | Not restated here | |
Acrisure | Private; $2.1B capital raise led by Bain Capital (May 2025); BDT & MSD largest minority holder | Not stated | Agency partnerships, MGAs, fintech | Not restated here | |
BroadStreet Partners | Ontario Teachers' (co-control) with an investor group led by Ethos Capital, BCI and White Mountains | Not stated | Partnerships with independent agencies (Core Agency Partners) | Not restated here |
Read this before you answer a letter
Agency buyers price on commission revenue and EBITDA and usually pay part of the price later, tied to retention of the book. Read the carrier appointment and producer non-solicit terms closely: your carrier contracts and producer relationships are the asset. Compare how much is cash at close versus contingent on renewals.
Platform vs add-on: what it means for price
A platform is the first company a PE firm buys in a trade or region; it is usually larger, keeps its management and is priced at a higher multiple. An add-on is a smaller company bolted onto that platform, typically at a lower multiple, because the buyer is paying for your customers, technicians and location rather than a management team.
Published ranges for insurance agencies:
| Deal type / size | Multiple | Source |
|---|---|---|
| Larger deals | No reliable published range | - |
If one of these groups contacts you
- Do not reply with numbers yet
Run your own range first with the insurance agency calculator.
- Ask what kind of deal it is
Platform or add-on? How much cash at close, how much rollover equity or earn-out, and what role they expect you to play for how long.
- Check who owns the buyer
The sponsor and when it invested tell you how soon the buyer itself may be sold, which matters if you roll over equity.
- Talk to more than one buyer
A single-bidder process rarely gets the top of the range. Use our unsolicited offer guide and checklist.
Got a PE letter? Get our offer-review checklist
Twelve questions to ask before you sign anything, including the rollover and earn-out terms that change what you actually take home.
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Spotted an error or an out-of-date sponsor? Send a correction and we will review it against the primary source. Company names are used only to identify them; we are not affiliated with any acquirer listed.
Frequently asked questions
Who is buying insurance agency businesses?
We documented 5 active acquirers from primary sources, including Arthur J. Gallagher, Brown & Brown, HUB International. The table lists each one’s owner, footprint and latest dated announcement.
Do PE-backed buyers pay more?
For larger companies, usually yes on headline multiple, but more of the price may come as rollover equity or earn-out. Compare cash at close and your required role, not only the multiple.
Can you introduce me to these buyers?
No. We are not a broker, we do not make introductions and we take no fees from buyers or sellers. See not a broker.
Sources
- Arthur J. Gallagher - primary source (accessed 2026-09-23)
- Brown & Brown - primary source (accessed 2026-09-23)
- HUB International - primary source (accessed 2026-09-23)
- Acrisure - primary source (accessed 2026-09-23)
- BroadStreet Partners - primary source (accessed 2026-09-23)