A businessperson in a suit points to a series of arrows showing an upward trend. The excess and surplus (E&S) sector grew more than 25% in 2021 and 2022, and the report predicts growth will continue in 2023 with an expected increase of 10% to 15% or more. (Credit: Peshkova/Shutterstock.com)

Specialty distributors consolidated over four times more than retail brokers did last year, according to MarshBerry's Q4 2022 Specialty Distribution Market Update. In fact, specialty firms recorded 157 transactions in 2022, which set a new record for the number of specialty M&A deals.

This number has steadily ticked upward over the last few years from 123 deals in 2020 to 153 in 2021. Combined with the transactions in 2022, the report shows a 2% increase in specialty deals year-over-year with a five-year CAGR of 17%.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

E&S/Specialty Lines
E&S/Specialty