Want to buy independent insurance agency

[stebbs]

I am seeking to purchase an independent insurance agency in western half of USA (e.g. from North Dakota down to Texas and west). I have over 16 years experience producing and managing p/c agencies and am familiar with Applied AMS. Knowledgable on virtually all lines of insurance from home/auto to complex commercial packaging. Lots of life and health production as well. I've successfully managed employees in single as well as multi-locations and know what it takes to provide sound leadership with growth and profitability in mind.

In general, premium volume desired would be 1.5 to 2 million or more but open to other possibilities. Idealistically, you the owner, are looking to retire without a clear perpetuation plan in place.

What I am not interested in is Allstate-type agencies. I have nothing against the company, I just want my own business. My family and I are 'smaller town' or 'rural-ish' born and bred, not metropolitan. Although we might be able to acclimate. Lots of stuff in this post and if you are uncertain, please let me know and I'll clarify. Confidentiality is of utmost importance, is expected and assured.

Thank you and please send me a pm if you have any interest whatsoever.

[mightyquinn]

So it sounds like you won't have the volume to attract the more recognizeable admitted retail companies [Travelers, Chubb, etc.] .If that is true then most of your business will be placed via wholesalers which will reduce your margin. Can you compete and be successful on that basis. What specialties will you be bringing to the table?

[wlunday]

Mightyquinn, where you from? When I bought my agency it had only 800K in premium, mostly with Safeco. We had carriers seeking us out. We are now the regional AARP Hartford rep, regular Hartford, Travelers, Grange, Progressive, the list goes on. I feel pretty confident that Stebbs will do well with a small but established agency in a small town. Good luck, Stebbs. The great Northwest is a nice place to have a business and raise a family.
Swymmer

[jjb]

Stebbs...are you wanting to relocate to the area the agency is in or are you looking to purchase and merge offices?
Have you ever purchased an agency?
Cash deal or are you wanting financing?

[AgencyEquity]

Nearly all established Independent Agencies over 250k in Revenues are purchased by existing Insurance Agencies, there are few exceptions to this:

1. Non-Standard Auto Agency (and similar type high risk insurance agencies)
2. Allstate Agencies (provides training)
3. Farmers Agencies (provides training)
4. Those who are employed by a selling agency

Those who are not considering options 1 through 4 should consider purchasing a smaller independent agency, the smaller the agency, the better chance that one without an agency will have a shot at purchasing it. Potential buyers should also make sure they can secure Agency Appointments. The alternative is to start your own agency and then purchase an agency once you have established yourself. There are many groups that will help you with the startup process, most especially if you have some kind of previous P&C Experience. I make many of these resources available on my site.