Sica | Fletcher Maintains #1 Spot as Leading Advisor while Q3 Index Reveals Steady M&A Activity
Sica | Fletcher continues its Q2 momentum as the #1 financial advisor YTD and releases the Q3 2022 Agency & Broker Buyer Index, which details a 3% increase in acquisitions compared to the same period last year.
The Sica | Fletcher Broker Buyer Index is the most comprehensive report on insurance brokerage M&A activity in existence. It uses self-reported data provided by 18 of the industry's most prolific agent and broker acquirers to track deal activity. These 18 agent and broker acquirers accounted for 70% of all deal activity in the first three quarters of 2022: 487 of a total of 696 announced transactions.
According to the report, SF Index members have acquired $1.5 billion in revenue through Q3 2022. On a year-to-year basis, many SF Index members are exceeding their 2021 acquisition rate. PCF Insurance Services is acquiring at a record rate, with 83 deals so far this year. They are followed closely by Acrisure, Hub International, and High Street Insurance Partners.
"It's surprising to see Q3's M&A activity as active as it was a year ago given borrowing costs for acquirers having nearly doubled since the beginning of this year," says Managing Partner Mike Fletcher.
The report, which is published quarterly, reflects the increasing dominance of private equity-backed firms in insurance brokerage M&A. About 92% of SF Index transactions were executed by private equity-backed firms through YTD September 2022, a trend that has increased year-over-year since 2017.
The S&P Global Market Intelligence League Tables show that through September 2022 Sica | Fletcher LLC leads the industry in terms of deal volume, with 74 insurance M&A deals so far in 2022. This is over double the number of deals as the next closest advisor. Sica | Fletcher has led the insurance industry in deal volume for the past nine years. See the YTD September 2022 S&P Global League Table here.
For more details, download the Q3 2022 Sica | Fletcher Agency & Broker Buyer Index here.
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 $11,000,000,000 ($11 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 2017-2022 in terms of total deals advised on. Learn more at SicaFletcher.com.
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