Should I Use A Business Broker To Help Me Sell My Insurance Brokerage?

Just as you match your clients with the most suitable carriers based on their claims history, risk profile and the carriers’ products so, too, do we introduce insurance brokerage owners to those buyers most likely to present the most attractive offers.

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We spend considerable time screening each potential buyer for his or her ability to meet the seller’s requirements. For example, in representing a recent insurance agency owner, we assessed inquiries from over 40 buyers before introducing the seller to six of them. The result? The seller received offers from four of these buyers that were well above the prevailing price paid for brokerages of similar size—and despite the fact that his commissions had declined in recent years. Moreover, a skilled business broker can provide valuable guidance in managing the flow of information during the in-depth due diligence process that will begin after you accept a buyer’s offer. In addition, since the due diligence process may unearth information that could potentially kill a deal, the business broker’s expertise can be instrumental in negotiating the most favorable resolution of such an issue.

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