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Buying books/ books for sale
Posted: Mon Oct 11, 2010 6:20 pm
by JAM
I have a friend who is a captive agent and has been in the business for a year. He wants to leave his captive agency and go IA. He asked me were he can buy a book of business. I told him I did not know as it was not an option for me and I had not researched it.. Are there business brokers for this? Were does one go to find agencies and books of business for sale.
Re: Buying books/ books for sale
Posted: Tue Oct 12, 2010 10:56 am
by FFA
Check the classified section of this publication. Most will be Allstate agencies. Most IA for sale do not even make the advertisements as that seems to be the hot ticket these days.
Re: Buying books/ books for sale
Posted: Tue Oct 12, 2010 1:07 pm
by waltmarkers
It's going to be tough for him to buy an IA unless he wants to go all upfront money out of his pocket or with some third party money.
Most agency deals involve either a seller held note, or periodic payments to the seller based on book size over a few years. The seller has a strong interest in that the agency does well, so they are going to want a buyer with IA experience at least as a producer if not a principal. Honestly, there is a perception that many captive agents may not cut it as independents, because their sole carrier gives them so much support they don't have the knowledge to be IA.
Mark Walters, CPCU
http://insuresavvy.blogspot.com
Re: Buying books/ books for sale
Posted: Wed Oct 13, 2010 10:26 am
by ncoghill
Hi - yes you can view Agencies for Sale /Books of Business for sale on the classified pages of InsuranceJournal.com:
http://www.insurancejournal.com/classifieds/?cat_id=1
or feel free to post your own ad, seeking a book of business in the "Agencies Wanted" category:
http://www.insurancejournal.com/classifieds/?cat_id=2
Ads can be completely confidential and with the help of something like a Gmail email address, your ad can be "blind", without disclosing your name if you would prefer.
If you need any assistance, please call Nicola, the Classified Ad Manager - 1-800-897-9965 ext 125 or email
classifieds@insurancejournal.com
Re: Buying books/ books for sale
Posted: Wed Oct 20, 2010 1:12 pm
by sunflower_gal
You might also want to check out the website:
http://www.Agencies4SaleListings.com. They have insurance agencies and books of business for sale listed on their website. It seems to be a pretty good mix of both Independent and Captive books.
They also have an "Agencies Wanted" section that allows you to post what you are in the market for.