By Frank Goad, September 11, 2014
For the past decade – the last three years in particular – increasing numbers of insurance companies and agencies have been part of merger and acquisition deals. In a classic “big fish eats little fish” consolidation scenario, smaller independent agencies and companies are being gobbled up; larger ones are merging with other firms, and some are then using their new buying power to acquire other enterprises.
The insurance sector regularly finds fresh specialties to develop, and it consolidates. The Kentucky companies doing deals range from two- or three-person independent agencies to insurance brokers and re-insurers with hundreds of employees.