Francine Way

JULY 8, 2017

Regardless of the base reason(s), the current owners and management of a company looking for a new owner should seek to: Maximize return on investment for current owners. Shareholders conflict: Differing risk tolerances, liquidity needs, and strategic views may drive shareholders and investors to put a company up for sale.

M&A 130

M&A Acquisitions Sale Investment 130

Sica Fletcher

MAY 13, 2024

The firm was founded in 2014 by Michael Fletcher and Al Sica, two of the industry's leading dealmakers who have advised on over $17.5 According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2024 YTD in terms of total deals advised. Learn more at SicaFletcher.com.

Insurance 52

Insurance M&A Broker Mergers and Acquisitions 52

Sica Fletcher

AUGUST 5, 2024

The firm was founded in 2014 by Michael Fletcher and Al Sica, two of the industry's leading dealmakers who have advised on over $17.5 According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2024 YTD in terms of total deals advised.

M&A 52

M&A Broker Insurance Mergers and Acquisitions 52

Sica Fletcher

AUGUST 5, 2024

The firm was founded in 2014 by Michael Fletcher and Al Sica, two of the industry's leading dealmakers who have advised on over $17.5 According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2024 YTD in terms of total deals advised.

M&A 52

M&A Broker Insurance Mergers and Acquisitions 52

Sica Fletcher

AUGUST 21, 2024

This experience has revealed that there's a common misunderstanding around what an ‘investment bank’ is and what an ‘investment banker’ actually does. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

Investment Banking 52

Investment Banking Insurance Bank Banking 52

Sica Fletcher

FEBRUARY 6, 2024

According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 in terms of total deals advised. The firm was founded in 2014 by Michael Fletcher and Al Sica, two of the industry's leading dealmakers who have advised on over $17.5 Learn more at SicaFletcher.com.

Broker 52

Broker Insurance Mergers and Acquisitions S&P 52

Mergers and Inquisitions

JANUARY 3, 2024

My portfolio did “OK” (up 10% for the year), but it greatly underperformed the S&P 500 , which was up 24%. On the other hand, I was only down 9% in 2022 vs. a 19% drop for the S&P, so both the index and my portfolio are now back to “early 2022” numbers.

Investment 59

Investment S&P Equities Portfolio 59

Sica Fletcher

JUNE 11, 2024

Last year's data saw PE firms acting as buyers in ~90% of all transactions. Sica | Fletcher’s team is the industry leader in insurance M&A, sitting at the top of the S&P Global charts for a decade. Whereas 2022 saw equity making up nearly 17.5% of payouts, this number has already grown to 33.3% as of H1 2024.

Broker 52

Broker Insurance Valuation S&P 52

Sica Fletcher

AUGUST 30, 2023

According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Learn more at , SicaFletcher.com.

M&A 52

M&A Insurance Broker Private Equity 52

Mergers and Inquisitions

JANUARY 31, 2024

They might have separate teams for specific strategies or markets, but everything is run under a single Profit & Loss statement (P&L). There are very few real “requirements” besides the single PM / single P&L one above and the standard Limited Partner / General Partner structure that all hedge funds use.

Funds 59

Funds Management S&P Recruitment 59

Sica Fletcher

APRIL 2, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

M&A 52

M&A Insurance S&P Broker 52

The Deal

JULY 19, 2023

Cox, Andrew P. Denbury chief administrative officer and general counsel James S. Denbury, a Plano, Texas-based independent energy company, took financial advice from Jonathan W. Castaldo and Michael Johnson at JPMorgan Securities LLC and R.A. McDonough at TPH&Co. Matthews was a V&E partner before moving in house in 2012.

Sale 52

Sale Mergers and Acquisitions M&A S&P 52

Sica Fletcher

MARCH 8, 2024

EBITDA Multiples for Insurance Agencies, 2018-2024 (Projected) M&A Deal Volume for Insurance Agencies, 2018-2024 (Projected) *S&P Global Data taken from ,,, “Insurance Brokers and Servicers Sector View 2024” The most important news this data offers is that insurance M&A is not actually in the tailspin that many “experts” claim it to be.

Insurance 52

Insurance M&A S&P Valuation 52

Sica Fletcher

MAY 15, 2024

In addition, third-party M&A institutions like S&P Global Data or Statista can provide more generalized data. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

Insurance 52

Insurance M&A S&P Valuation 52

Sica Fletcher

APRIL 30, 2024

Selecting the Valuation Method Insurance agency valuations typically occur in one of the following four methodologies EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization): A calculation of an insurance agency's profitability calculated by subtracting taxes and operating expenses from its overall revenue.

Insurance 52

Insurance Valuation M&A S&P 52

Sica Fletcher

AUGUST 6, 2024

Founded in 2014, they have consistently ranked at the top of the S&P Global Data's rankings for investment banks, totaling an average of 100 deals per year. Their size also provides a hidden value for prospective clients in that it ensures that the firm's principals touch on every deal that they handle.

Investment Banking 52

Investment Banking Insurance Bank Banking 52

Sica Fletcher

NOVEMBER 9, 2023

According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

Broker 40

Broker M&A Insurance Mergers and Acquisitions 40

Sica Fletcher

JUNE 14, 2024

Factors Affecting EBITDA Because EBITDA refers to a general assessment of an insurance agency’s profitability, factors affecting it are those that relate to the agency's bottom line. S&P Global Data, PitchBook, PWC) or through M&A indexes provided by M&A advisory firms. Learn more at SicaFletcher.com.

Insurance 52

Insurance Valuation M&A S&P 52

Sica Fletcher

AUGUST 14, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Investment Banking 52

Investment Banking M&A Insurance Bank 52

Sica Fletcher

APRIL 11, 2024

The most commonly used source for this is S&P Global data, which ranks the performance of M&A advisory firms across a variety of different metrics and industries. ( According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Insurance 52

Insurance Advisory M&A Investment Banking 52

Sica Fletcher

JULY 11, 2024

However, the brokerage's tech stack now handles many of these job functions, which significantly improves the bottom line and increases profitability. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

M&A 52

M&A Insurance Debt Equities 52

Sica Fletcher

SEPTEMBER 12, 2024

Changes in the Valuation Process Valuation is the first formal step in the M&A deal process, taking place once the seller has gathered all their preliminary documents and made any necessary changes to the company's internal structure to make it more profitable. Think Long-Term. Learn more at SicaFletcher.com.

Insurance 52

Insurance Valuation M&A S&P 52

Sica Fletcher

OCTOBER 23, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Valuation 52

Valuation M&A Insurance Advisory 52

Sica Fletcher

SEPTEMBER 17, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Insurance 52

Insurance Valuation Profitability M&A 52

Sica Fletcher

OCTOBER 16, 2024

As the Baby Boomer Generation enter their golden years, it's very likely that we will see increased valuations in the coming decade as more and more people seek retirement planning services. We see no reason to believe this trend will change, but robo-advisors will remain on the periphery, pushing RIAs to greater degrees of service.

Valuation 52

Valuation Mergers and Acquisitions M&A Insurance 52

Sica Fletcher

JULY 23, 2024

Consult data sources like S&P Global data to get an idea of a firm’s activity within the industry. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. Are you meeting the firm’s principals?

M&A 52

M&A Insurance S&P Valuation 52

Sica Fletcher

MARCH 28, 2024

According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

M&A 52

M&A Insurance Mergers and Acquisitions Equities 52

Sica Fletcher

JULY 1, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Insurance 52

Insurance M&A Advisory Funds 52

Sica Fletcher

MAY 29, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

M&A 52

M&A Insurance Equities S&P 52

Sica Fletcher

APRIL 18, 2024

It’s common to see deals completed in which earnouts make up the lion's share of payments to sellers. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and agency transactions since 2014. Learn more at SicaFletcher.com.

Insurance 52

Insurance Equities M&A Finance 52

Sica Fletcher

MARCH 14, 2024

According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014.

Insurance 52

Insurance Valuation M&A Consulting 52

Sica Fletcher

MAY 8, 2024

seller's discretionary earnings, discounted cash flow), they are so rarely used in insurance M&A that we do not include them here. You can find these with most major M&A advisory firms (like Sica | Fletcher’s own SF Index ) or through 3rd party monitoring institutions like S&P Global Data or Pitchbook.

Insurance 52

Insurance M&A Valuation Advisory 52

Francine Way

JULY 12, 2017

A mature company that has been around forever (think S&P 500 companies) would be well forecasted using a 1-stage growth model (when there is only one growth rate for the entire forecast horizon). If a company has only been around for less than 10 years, I prefer a shorter forecast horizon.

Discounted Cash Flow 130

Discounted Cash Flow Valuation M&A DCF 130

Sica Fletcher

JULY 31, 2024

Get an Advisor Having observed the trend of buyers actively looking for self-represented agencies and brokerages, it's important – now more than ever – to ensure you retain adequate representation before taking your company to market. The following sections detail our team’s advice for agency owners considering a transaction.

M&A 52

M&A Insurance Debt Equities 52

Peak Frameworks

AUGUST 15, 2023

The Seven Indicators Stock Price Momentum : The S&P 500 versus its 125-day moving average. Conversely, during the bull market of 2017, the index hovered in the extreme greed range. The index uses seven market indicators to calculate a value ranging from 0 (Extreme Fear) to 100 (Extreme Greed). For instance, the 2018 U.S.

Investors 52

Investors Stock Risk Management Investment 52

Sica Fletcher

SEPTEMBER 3, 2024

Financing options offered by the seller, based on the book's performance over time. Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. A single payment made at the time of closing. Retention Bonus.

Insurance 52

Insurance Business Valuation M&A 52

Sica Fletcher

JULY 2, 2024

Founders Michael Fletcher and Al Sica are two of the industry's leading dealmakers who have advised on over $16 billion in insurance agency and brokerage transactions since 2014. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Insurance 52

Insurance M&A Private Equity Advisory 52