Do Banks Overpay For P-C Agencies?
Since 1998, the banking industry has been the most active acquirer of property-casualty insurance agencies. So relevant are these transactions to the development of bank-insurance that, today, a majority of banks selling commercial insurance do so through an acquired agency.
Indeed, for banks above $1 billion in assets, more than 70 percent that sell commercial insurance use an acquired agency to do so.
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