The broader consolidation picture
US insurance agencies completed 695 mergers and acquisitions in 2025, down 12% from 787 in 2024, with the number of active buyers continuing to shrink as the market consolidates around larger platforms, according to OPTIS Partners. Private equity-backed and hybrid buyers accounted for 72% of all announced deals in Q1 2026, with the trailing 12-month total running at approximately 686 transactions, a level analysts describe as a new normal rather than a contraction.
