This industry was last covered around 10 years ago, in BVN 136, as at July 2016. The industry has changed significantly since this time, with major corporate broking groups having aggressive acquisition strategies, buying up smaller businesses. The consolidation of the industry in this manner, has led to strong increases in valuation multiples and prices paid for SME sized businesses.
This article focusses on small to medium enterprises (SME) sized general insurance broking businesses, rather than specialised life insurance brokers, that are more aligned with the financial planning industry
Typical general insurance broking businesses sell products including:
- Workers compensation Insurance
- Public Liability
- Professional Indemnity
- Business Interruption
- Cyber Risk Insurance
- Fire/Industrial Risk
- Property Insurance
- The main clients are commercial enterprises, with
- a minority portion of revenue from the domestic
- homeowner market.
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