Insurance Agency Consolidation and the Impact to Insurance Agency Networks

Professional Workshop
January 24 | 3:30 – 4:30 PM

Insurance agency mergers and acquisitions continue at a very high level. Networks are not immune to this activity and have experienced the departure of members and related premium from their groups. Understanding the past and the outlook of future M&A activity, including the potential impact of a rising interest rate environment and record high inflation, will be important for any Network to anticipate potential activity for their members. Join Mike Strakhov, CPCU and Matt Richter from Live Oak Bank as they provide their perspective on the current and future insurance distribution consolidation landscape.

This presentation will:

  • Provide an update on M&A activity for the year, and projections for 2023
  • Identify the main players
  • Review the impact of inflation and interest rates on agency valuations
  • Explore opportunities for networks to improve management of members looking to buy or sell and protecting their book of business
Mike Strakhov, CPCU, Live Oak Bank

As executive director of insurance lending at Live Oak Bank, Mike Strakhov educates agency owners and organizations on financing options, helping them prepare for acquisitions and perpetuation transactions. Since the insurance lending team was formed in 2015, Live Oak has lent more than $100 million to the insurance industry. Strakhov was instrumental in the formation of the Insurance Networks Alliance, an industry group created to promote and improve relationships among networks, carriers and other industry partners.

Prior to joining Live Oak, Strakhov was a branch vice president of CNA in Ohio. Before that, he held management responsibilities for Alabama and Mississippi at Chubb and served as interim CEO and managing director of field operations with a top 50 brokerage.

Matt Richter, Live Oak Bank

Matthew Richter is a Commercial Banker supporting growing lower middle market businesses nationwide. Matthew joined Live Oak Bank in November 2015 and in his current role is responsible for deal origination, execution, and general lower middle market lending portfolio growth and strategy at the bank. Prior to joining Live Oak Bank, Matthew served as a commercial relationship manager with Talmer Bank and Trust responsible for the origination and portfolio management of a middle market C&I portfolio and also previously held credit analysis and underwriting responsibilities with TCF Bank. A native of Northern Michigan, Matthew’s banking career began in Metro Detroit.

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