An OPTIS study analyzing reported transactions in the U.S. andCanada found a record amount of agent-broker M&A activity took place in2012. A total of 291 deals were reported in 2012, topping2008's previous record of 284. 2011 and 2007 were healthy years,with 279 deals each. Activity in 2009 and 2010 did not break 200;OPTIS executives speculate the drop during these years could be dueto the weak economy.

Of the 291 deals, privately owned agencies topped the list at 93mergers and acquisitions, followed closely by 86private-equity-backed firms. Private equity and public brokers madeup 53 percent combined in 2012, increasing significantly from 17percent of 2008's total.

Arthur J. Gallagher and Brown & Brown are the most activebuyers since 2008. In 2012, Gallagher announced 30 deals and hascompleted a total of 102 deals since 2008. Brown & Brownannounced 15 this year and have completed 96 transactions since2008. Hub International, Confie Seguros, USI Holdings and AssuredPartners followed with 10 or more acquisitions since 2008.

Property-casualty agencies accounted for most purchases in 2012.OPTIS speculated the high demand for employee benefits firms is aresult of 2009 healthcare reform legislation.

Retail and wholesale agencies and brokerages, MGAs/MGUs sellingproperty-casualty, employee benefits and life/financial servicesproducts were included. Data was gathered from press releases,websites and news reports.