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Aon reported they’ve completed the sale of Auto Insurance Specialists to Mercury General Corp. Chicago-based insurance broker Aon Corp. has completed the sale of AIS Management, LLC, which is the parent company of Auto Insurance Specialists, LLC, to Mercury General Corp. Aon said it received $120 million in cash at the closing on Jan. 2, and may receive potential earn
We’ve discussed numerous times that the main reason an insurance agency doesn’t sell is the sellers overestimate of their offering. Sellers often try to assess the value of their agency the same way they assess their home. Homes or any real property have a constant value including the worthiness of the land. You don’t have to do anything to a
Selling an insurance agency is not like selling a home or commercial building. There’s no magic formula for determining the value of an insurance agency – every agency is unique. An insurance agency is a business and the financial performance of the agency will make up 90% of its value. There are 2 formulas most buyers use to determine what
Most Insurance Agency Owners are savvy business people and when it comes to selling their agency, decide to do it themselves. Many Business Owners would never consider selling their house without a Realtor and they’ve lived in houses longer than they’ve owned a business. The thing about selling a business is there’s no uniformity when selling a business. Every insurance
With a New Year upon us, many insurance agency owners are hoping to sell their agencies this year. Regardless of the bad economy, Insurance Agencies are still in demand and there is no shortage of buyers. There are a few things to remember when selling your insurance agency but your number one priority is preparation.
After you’ve invested years and/or decades into your insurance agency you finally decide to sell. You want to get out and not worry about who shows up and who doesn’t. You want to be rewarded in one lump sum for the years you’ve invested in your insurance agency. There are plenty of buyers in this market.
Most agency owners will sell an insurance agency once in their lifetime. Many insurance agency buyers have purchased more than one, have more experience with the process and have an advantage when it comes to negotiating. When selling your agency you need to assemble a team consisting of your CPA, Attorney and Insurance Agency Consultant or Business Broker. Each person
If you own a preferred book of business and are considering selling it in the next six months, we have buyers ready, willing and able to buy your agency. The demand for insurance agencies hasn’t waned in spite of the economic turmoil we’re in. It’s harder to borrow money to buy an agency, but many of our buyers are capitalized
It’s a fact that 70% of businesses sold have some form of seller financing. Most sellers want a full cash payment which is understandable. There’s absolutely nothing wrong with selling a business and asking all cash.
We field calls and emails from buyers looking to acquire agencies on a daily basis. Even though the economy is in the tank and nobody knows what’s going to happen in our country the next few years, buyers are out and about looking for acquisition candidates.