In a viewpoint piece for Insurance Day, Paul McCreadie discusses why M&A in the insurance market will offer brokers the chance to cross sell and break into new areas which will be key for growth post-Covid.
Whilst the pandemic caused M&A activity to plummet across the board, Paul believes that M&A will be what drives growth going forwards especially as organic growth becomes more difficult across specialisms. Smaller brokers are likely to find merit in joining a larger team and benefitting from better operational support, as well as the synergies of a wider client base, and acquirers are likely to offer a chance to cross-sell their offering and break into new areas. Paul says, “M&A should not just provide a safe harbour to ride out the crisis and looming recession, it should help drive growth.”
Click here to read the full article, which goes into more detail around how to deliver successful M&A in the insurance space and our experience with portfolio company, Clear Group.