Insurance-agency mergers and acquisitions hit an all-time high in 2012, a recent study shows, with 291 transactions in the U.S. and Canada.
"Buyers were anxious to acquire and sellers equally anxious to complete their deals before capital-gains tax rates went up in 2013," says Timothy J. Cunningham, managing director of OPTIS Partners, an investment-banking and financial-consulting firm that released the report.
OPTIS analyzed reported transactions in the U.S. and Canada from various sources, including press releases, news reports and company Websites. Transactions include retail and wholesale agencies and brokerages, and MGAs/MGUs selling P&C, Employee Benefits and Life/Financial Services products.
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