Insurance mergers, earning rise

The acquisition of brokers by insurers has had a significant impact on deal values in the insurance broking sector, with earning multiples rising by more than 25% during the past year. According to Deloitte, multiples in excess of 10 times had been achieved in many insurance merger and acquisition deals in the past year, a rise from the seven to eight times that was typically paid prior to 2006. Ian Clark, insurance partner at Deloitte, said: "The interest of insurers in acquiring distributi