San Francisco-based Wells Fargo & Co. says 2011 third-quarter income in its insurance-services segment improved 7 percent on a year-over-year basis, but dropped 26 percent on a quarter-to-quarter basis.
Private-equity firms are still interested in acquiring specialty wholesalers and managing general underwriters, but they are up against some aggressive competitors offering higher deal prices—like 6- to 8-times EBITDA, consultants say.
Private-equity firms are still interested in acquiring specialty wholesalers and managing general underwriters, but they are up against some aggressive competitors offering higher deal prices—like 6- to 8-times EBITDA, consultants say.
The CEO of Fortegra Financial believes he has a distinct edge as he competes to acquire property and casualty wholesale brokerages and regional specialty agencies to add to his firm’s suite of insurance-service operations: Being a New York Stock Exchange-listed public company.
If the end of 2010 and beginning of 2011 is any sign of things to come from a mergers and acquisitions perspective, then this year could be a very active season for brokerages.