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After a strong 2024, for both the U.S. economy and the insurance industry, all eyes are on a positive outlook for insurance brokerage M&A in 2025.
Market Intelligence
View More Market and business insights that help guide your firm. View MoreRecent Transactions
January 2025 
Trucordia has acquired Rusty Healy Agency, Inc. 
The GrECo Group has invested in Comergon 
Wealth Enhancement Group, LLC has acquired VanceGray Wealth Management, Inc. Wealth Enhancement Group, LLC has acquired VanceGray Wealth Management, Inc. 
Arthur J. Gallagher & Co. has acquired Sheila J. Butler & Company, Inc. Arthur J. Gallagher & Co. has acquired Sheila J. Butler & Company, Inc. 
Choice Financial Group, LLC has acquired Employee Benefits of Virginia Choice Financial Group, LLC has acquired Employee Benefits of Virginia 
Acquisition MFM Holding LTD has acquired Willis Owen Limited 
Acquisition HUB International Limited has acquired Global Ag Risk Solutions HUB International Limited has acquired Global Ag Risk Solutions 
Brightstone Specialty Group has acquired DMI Insurance Services and South Valley Claims Brightstone Specialty Group has acquired DMI Insurance Services and South Valley Claims 
Specialist Risk Group Limited has acquired One Claim Limited 
Acquisition 
HUB International Limited has acquired Western Growers Insurance Service, a subsidiary of Western Growers Association HUB International Limited has acquired Western Growers Insurance Service, a subsidiary of Western Growers Association 
Acquisition 
Arthur J. Gallagher & Co. has acquired Adept Benefits 
Acquisition 
Acquisition 
Unison Risk Advisors has acquired Avondale Insurance Associates Unison Risk Advisors has acquired Avondale Insurance Associates 
World Insurance Associates LLC has acquired First International Insurance 
Acquisition Inszone Insurance Services, Inc. has acquired San Antonio Insurance Services Inszone Insurance Services, Inc. has acquired San Antonio Insurance Services
HARPER has acquired the minority stake securing full independency
MarshBerry served as the financial advisor to Harper Insurance
January 2025 Trucordia has acquired Rusty Healy Agency, Inc. MarshBerry served as the financial advisor to Trucordia
December 2024 The GrECo Group has invested in Comergon MarshBerry served as the financial advisor to Comergon
December 2024 Wealth Enhancement Group, LLC has acquired VanceGray Wealth Management, Inc. MarshBerry served as the financial advisor to VanceGray Wealth Management, Inc.†
Toggle Transaction Details 12/31/24 Wealth Enhancement Group, LLC has acquired VanceGray Wealth Management, Inc. MarshBerry served as the financial advisor to VanceGray Wealth Management, Inc.†
Wealth Enhancement Group, LLC has acquired VanceGray Wealth Management, Inc. Buyer: Wealth Enhancement Group, LLC Seller: VanceGray Wealth Management, Inc. MarshBerry Advisory Role: MarshBerry served as the financial advisor to VanceGray Wealth Management, Inc.† December 2024 Arthur J. Gallagher & Co. has acquired Sheila J. Butler & Company, Inc. MarshBerry served as the financial advisor to Sheila J. Butler & Company, Inc.†
Toggle Transaction Details 12/6/24 Arthur J. Gallagher & Co. has acquired Sheila J. Butler & Company, Inc. MarshBerry served as the financial advisor to Sheila J. Butler & Company, Inc.†
Arthur J. Gallagher & Co. has acquired Sheila J. Butler & Company, Inc. Buyer: Arthur J. Gallagher & Co. Seller: Sheila J. Butler & Company, Inc. MarshBerry Advisory Role: MarshBerry served as the financial advisor to Sheila J. Butler & Company, Inc.† December 2024 Choice Financial Group, LLC has acquired Employee Benefits of Virginia MarshBerry served as the financial advisor to Choice Financial Group, LLC
Toggle Transaction Details 12/13/2024 Choice Financial Group, LLC has acquired Employee Benefits of Virginia MarshBerry served as the financial advisor to Choice Financial Group, LLC
Choice Financial Group, LLC has acquired Employee Benefits of Virginia Buyer: Choice Financial Group, LLC Seller: Employee Benefits of Virginia MarshBerry Advisory Role: MarshBerry served as the financial advisor to Choice Financial Group, LLC December 2024 The Hilb Group, LLC has acquired a Texas-Based Business
MarshBerry served as the financial advisor to The Hilb Group, LLC
December 2024 Acquisition MFM Holding LTD has acquired Willis Owen Limited MarshBerry served as the financial advisor to Willis Owen Limited
November 2024 Acquisition HUB International Limited has acquired Global Ag Risk Solutions MarshBerry served as the financial advisor to Hub International Limited
Toggle Transaction Details 11/18/24 HUB International Limited has acquired Global Ag Risk Solutions MarshBerry served as the financial advisor to Hub International Limited
HUB International Limited has acquired Global Ag Risk Solutions Buyer: HUB International Limited Seller: Global Ag Risk Solutions MarshBerry Advisory Role: MarshBerry served as the financial advisor to Hub International Limited November 2024 Brightstone Specialty Group has acquired DMI Insurance Services and South Valley Claims MarshBerry served as the financial advisor to DMI Insurance Services and South Valley Claims†
Toggle Transaction Details 11/2024 Brightstone Specialty Group has acquired DMI Insurance Services and South Valley Claims MarshBerry served as the financial advisor to DMI Insurance Services and South Valley Claims†
Brightstone Specialty Group has acquired DMI Insurance Services and South Valley Claims Buyer: Brightstone Specialty Group Seller: DMI Insurance Services and South Valley Claims MarshBerry Advisory Role: MarshBerry served as the financial advisor to DMI Insurance Services and South Valley Claims† November 2024 Specialist Risk Group Limited has acquired One Claim Limited MarshBerry served as the financial advisor to One Claim Limited
November 2024 Acquisition Hub International Limited has acquired R.K. Gore & Associates
MarshBerry served as the financial advisor to R.K. Gore & Associates†
Toggle Transaction Details November 2024 Hub International Limited has acquired R.K. Gore & Associates
MarshBerry served as the financial advisor to R.K. Gore & Associates†
Hub International Limited has acquired R.K. Gore & Associates Buyer: Hub International Limited Seller: R.K. Gore & Associates MarshBerry Advisory Role: MarshBerry served as the financial advisor to R.K. Gore & Associates† November 2024 HUB International Limited has acquired Western Growers Insurance Service, a subsidiary of Western Growers Association MarshBerry served as the financial advisor to Western Growers Association†
Toggle Transaction Details 11/4/24 HUB International Limited has acquired Western Growers Insurance Service, a subsidiary of Western Growers Association MarshBerry served as the financial advisor to Western Growers Association†
HUB International Limited has acquired Western Growers Insurance Service Buyer: HUB International Limited Seller: Western Growers Insurance Service, a subsidiary of Western Growers Association. MarshBerry Advisory Role: MarshBerry served as the financial advisor to Western Growers Association† November 2024 Acquisition The Hilb Group, LLC has acquired a Louisiana-Based Business
MarshBerry served as the financial advisor to The Hilb Group, LLC
Toggle Transaction Details November 2024 The Hilb Group, LLC has acquired a Louisiana-Based Business
MarshBerry served as the financial advisor to The Hilb Group, LLC
The Hilb Group, LLC has acquired a Louisiana-Based Business Buyer: The Hilb Group, LLC Seller: Louisiana-Based Business MarshBerry Advisory Role: MarshBerry served as the financial advisor to The Hilb Group, LLC October 2024 Arthur J. Gallagher & Co. has acquired Adept Benefits MarshBerry served as the financial advisor to Adept Benefits†
October 2024 Acquisition Connection Capital has acquired Hood Group Limited
MarshBerry served as the financial advisor to Hood Group Limited
Toggle Transaction Details October 2024 Connection Capital has acquired Hood Group Limited
MarshBerry served as the financial advisor to Hood Group Limited
Connection Capital has acquired Hood Group Limited Buyer: Connection Capital Seller: Hood Group Limited MarshBerry Advisory Role: MarshBerry served as the financial advisor to Hood Group Limited October 2024 Acquisition Specialist Risk Group Limited has acquired Stonehatch Risk Solutions Limited
MarshBerry served as the financial advisor to Stonehatch Risk Solutions Limited
October 2024 Unison Risk Advisors has acquired Avondale Insurance Associates MarshBerry served as the financial advisor to Avoca Holdings, the parent company of Avondale†
Toggle Transaction Details 10/10/2024 Unison Risk Advisors has acquired Avondale Insurance Associates MarshBerry served as the financial advisor to Avoca Holdings, the parent company of Avondale†
Unison Risk Advisors has acquired Avondale Insurance Associates Buyer: Unison Risk Advisors Seller: Avondale Insurance Associates MarshBerry Advisory Role: MarshBerry served as the financial advisor to Avoca Holdings, the parent company of Avondale Insurance Associates† October 2024 World Insurance Associates LLC has acquired First International Insurance MarshBerry served as the financial advisor to First International Bank & Trust†
October 2024 Acquisition Inszone Insurance Services, Inc. has acquired San Antonio Insurance Services MarshBerry served as the financial advisor to Inszone Insurance Services, Inc.
Toggle Transaction Details 10/10/2024 Inszone Insurance Services, Inc. has acquired San Antonio Insurance Services MarshBerry served as the financial advisor to Inszone Insurance Services, Inc.
Inszone Insurance Services, Inc. Has Acquired San Antonio Insurance Services Buyer: Inszone Insurance Services, Inc. Seller: San Antonio Insurance Services MarshBerry Advisory Role: MarshBerry served as the financial advisor to Inszone Insurance Services, Inc.Proof is in the Numbers
#1 M&A Sell Side Advisor with 1,300+ total transactions advised (2009-2023)
Based on maximum earn out value for deals closed; MarshBerry advised deals through 12/31/2023.
As identified by the 100 largest brokers of U.S. business as identified by Business Insurance.
These totals include certain transactions completed by Marsh, Berry & Company, LLC. professionals while employed at another firm, whereby substantially all of the assets were acquired by Marsh, Berry & Company, LLC. Total completed buy side and sell side transactions in the United States as reported by S&P Global Market Intelligence (1999 -2023).
Services representing more than $58B in premium volume. There may be some duplication in the number of firms counted as certain firms subscribe to and/or provide data for multiple benchmarking services.
Represents more than $4.1B of transaction value since 2008. Transaction value based on realistic earn out value for deals closed 1/1/2008 through 12/31/2023 in which MarshBerry was the advisor.