NU Online News Service, July 14, 3:40 p.m. EDT
Acquisition activity is expected to heat up for the second half of the year among the major insurance brokers, despite the strong headwinds they face to revenues, according to a financial analyst's report.
Keefe, Bruyette & Woods, in its second quarter earnings preview of the insurance industry, said potential changes in the capital gains tax and a reversion to "more normalized valuation levels" should increase second-half mergers and acquisitions activity among insurance brokers it follows.
The report said brokers' revenues are expected to see low-single-digit growth in the second quarter as the soft market continues and the weak economy cuts into client purchasing of insurance.
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