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The future of the insurance brokerage business is bright. (iStock) The future of the insurance brokerage business is bright. (iStock)

Over the past few years, there has been significant growth in insurance brokerage M&A activity. 2019 set a record for the total number of transactions in the industry. And while 2020 may see M&A drop by a small margin because of COVID-19, experts are predicting a spike in mergers once again in 2021.

The top acquirers have remained the same over the past few years: Acrisure, HUB and AssuredPartners, all owned by private equity (PE) firms. As PE firms roll-up independent brokers, consolidation continues to be detrimental to both carriers and customers for a number of reasons, including power shifting into brokers’ hands and fewer choices for customers. At the same time, consolidation could lead to a resurgence of new, nimble, and forward-thinking independent brokers who fully embrace transparency and objectivity as they deliver the services that clients want and need.

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