While principals at some excess and surplus lines brokerages might believe their primary perpetuation goal is to negotiate the best prices they can for their shops, successful acquirers say their primary focus is making sure the merging cultures mesh.
In interviews with four E&S producers, the executives expressed one common view–that a successful partnership must have a cultural fit or it will make life miserable for both concerns down the road.
One wholesaler making its first acquisition this year was Mercator Risk Services in New York. Formed in 2006, Mercator shied away from the idea of growing through acquisition because it is so difficult to find the right partner to grow the business, said Chris Treanor, president and chief executive officer.
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