Deal volume up but M&A value down in 2023, says MarshBerry
The value of UK insurance distribution deals fell to £3.9bn in 2023, down 8% on the year before, despite M&A volume returning to record levels, according to MarshBerry.
The deal total jumped from 110 in 2022 to 148 last year matching the record activity seen in 2021.
The figures from MarshBerry, formerly known as Imas until it was snapped up by the US giant last year, covered commercial and personal lines brokers, MGAs and wholesalers as well as Lloyd’s and reinsurance.
The breakdown of the numbers revealed 103 commercial broker deals, up from 75 the year before. For personal lines brokers the figure was up by three at 17 deals.
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