Insurance Agencies
Represented insurance agency and insurance executive in state court lawsuit asserting claims for malicious prosecution in excess of $5,000,000.
Deal activity is thriving, and our insurance agency M&A lawyers are deeply experienced.
While rising interest rates have had some cooling effect on deals, the market remains relatively brisk, the multiples remain reasonable high, and selling an agency can provide a good opportunity to build wealth while continuing to work in a meaningful and lucrative way. Quality agencies looking to sell will still find high demand from perspective buyers. Likewise, the fact that the market for agency purchases in not quite as hot as it was a year or more ago, there are opportunities for new buyers to compete for quality agencies. While there are a number of similarities between buying and selling an insurance agency and buying and selling other kinds of businesses, there are sufficient unique features in these transactions that should cause parties involved in insurance merger and acquisition activity to engage counsel that is specifically experienced in this arena.
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BoyarMiller’s team of corporate lawyers has decades of experience helping agents and owners of insurance agencies build and maintain the value of their businesses, especially in times of transition (whether than means selling an agency developed over the years or buying an additional agency).
Our senior deal team members have a long history in representing agencies in purchase and sale transactions. Recently, BoyarMiller’s insurance agency M&A lawyers have handled transactions as small as a single owner as the primary producer to agencies with multiple offices, ten or more shareholders and numerous producers.
Our lawyers assist agencies negotiating the sale documents and addressing the distinctive considerations of selling an agency such as:
We maintain excellent relationships with several top national investment bankers specializing in insurance agency acquisitions, and we work closely with the investment bankers and our clients to successfully complete the transaction.
We recognize the need for speed (minimizing the period a selling agency is in transition) and for patiently explaining all aspects of the transaction to our clients. We recognize that many of our clients have never been through this process before and it may be among the most significant transactions of their careers. For over 30 years, representing insurance agencies in connection with their perpetuation, owner agreements, insurance agency mergers, and insurance agency purchases and sales has been an important part of our practice.
BoyarMiller is well positioned to handle the purchase or sale of an insurance agency in any of the fifty states (although our attorneys are licensed only in Texas). By partnering with our client’s existing corporate counsel as relates to any local issues, BoyarMiller can effectively provide their insurance agency specific knowledge across the United States.