Feb 4, 2020
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Michael Mensch is a Client Advisor and Managing Partner for Agency Brokerage Consultants. As a consultation company, they are experts in the valuation, sale, and acquisition of insurance distribution businesses. They work with retail agencies, wholesale brokerages, and program administrators. Michael has assisted in over 150 merger and acquisition transactions, as well as over 600 valuations of brokerages and insurance agencies. He is also a Certified Business Intermediary and a Certified Merger & Acquisition Master Intermediary.
Michael joins us to share how the business of agency sale and acquisition works. He describes the biggest changes in the insurance industry in the last decade and how agencies adjusted with the rise of insurtech. He explains how to determine the risk appetite of potential buyers and the impact of being underprepared. Michael shares some of their best success stories, as well as a few bumps in the road. He also shares valuable tips for those who may want to start an agency.
“Value is strongly driven by earnings in the business.” - Michael Mensch
Today on Spot On Insurance:
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This episode was brought to you by…..
Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.
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