The Insurance Guys Podcast Today’s Crazy M&A Market
Nov 19, 2025
Carey Wallace, a financial and M&A expert in insurance agency valuations, joins the discussion to unravel the complexities of the current M&A landscape. He emphasizes that agency valuations go beyond just revenue, highlighting risk factors and market timing. The conversation stresses the need for due diligence, the pitfalls of emotional decision-making, and the importance of culture fit in acquisitions. Carey also shares insights on growing an agency's value and why tracking EBITDA matters—even for those not planning to sell.
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Time M&A Moves Around Interest Rates
- Interest-rate timing matters for M&A; consider selling when rates drop and market conditions peak.
- Prepare now because late 2025 and early 2026 may be very busy for buyers and sellers.
Revenue Multiples Hide Agency Risk
- Valuations are not simple revenue multiples; rising rates widened the gap between well-run and mediocre agencies.
- Buyers now perform heavier due diligence and reward solid financials and risk profiles.
Same Revenue, Very Different Value
- Two agencies with the same revenue can have wildly different transferability and risk profiles based on location and owner dependency.
- Value depends on client concentration, producer depth, carrier mix, and local risk exposure.