A re-cap of all the M&A Activity in the Massachusetts insurance industry in 2019
As Agency Checklists has done for every quarter for the past few years, the following is a listing of the agency acquisitions have been reported or announced during the 2019. For comparison purposes, we decided to add it to the list of acquisitions that we compiled for 2018 as well. Since not every purchase and sale is announced, however, please note this may not include transactions not reported or announced publicly. For example, thanks to reader input, the 2018 list included approximately four more sales that had not been officially announced.
The purpose of this list is to help our readers take stock of the consolidation of the marketplace within Massachusetts versus what is happening nationally. Unlike the national trends, however, the majority of purchases and sales have been between agencies owned and operated in Massachusetts. For example, while Acrisure led the nations in purchases in 2018, it had only one unannounced acquisition in Massachusetts in December of 2018.
Our proprietary list of purchases and sales of Massachusetts agencies
Based on our date compiled throughout 2019, agency acquisitions in Massachusetts continued at a swift pace with a total of 25 transactions reported in the past year. The following are some other insights:
- There were a total of 25 reported M&A transactions in Massachusetts in 2019.
- This is eight less than the amount in 2018, which saw a total of 33 M&A transactions reported.
- The second quarter of 2019 (Q2-2019) saw the most transactions reported with 10 separate announcements made during this time period.
- After Q2-2019, Q1-2019 has the second most reported transactions with six announced, followed by Q4-2019 with five, and Q3-2019 with four.
While 2019 was a slower year for agency purchases and sales, as compared to 2018, it is too early to predict what 2020 holds with respect to M&A activity here in the Commonwealth. It is interesting to note, however, that there have already been two Massachusetts insurance agency acquisitions announced as of January 1st.
The following is a list of the transactions featured in Agency Checklists during 2019, followed by our list from 2018. As always, if you know of a sale of insurance agency not listed here, please help us keep this list as accurate as possible by letting us know here.
January 2019 (Q1)
February 2019 (Q1)
March 2019 (Q1)
April 2019 (Q1)
No reported transactions
May 2019 (Q2)
June 2019 (Q2)
July 2019 (Q2)
August 2019 (Q3)
September 2019 (Q3)
October 2019 (Q4)
No reported transactions
November 2019 (Q4)
December 2019 (Q4)
Massachusetts agencies sold in 2018
January 2018 (Q1)
The Segal Group acquires Touchstone Consulting OneDigital Health and Benefits Acquires Insight Performance
February 2018 (Q1)
Alera Group acquires Aisling Partners Insurance Brokerage
Alera Group acquires Spring Consulting Group
One Digital Group acquires The Survey Group
March 2018 (Q1)
April 2018 (Q2)
No transactions reported
May 2018 (Q2)
June 2018 (Q2)
Eastern Insurance acquires the Walter Tennant Insurance Agency
July 2018 (Q3)
Eastern Insurance Acquires Matthews Insurance
August 2018 (Q3)
September 2018 (Q3)
DeSanctis Insurance of Woburn, MA was acquired by Acrisure (thank you to one of our readers who updated us on this acquisition).
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