Jane Yu covers finance, education, manufacturing and professional services for the Orange County Business Journal. She can be reached at email@example.com.
Consolidation among insurance brokerages continues at a pace that had a recent Deloitte report identifying “serial acquisitions” as the “core driver of brokerage growth.” The Business Journal’s Jane Yu asked Orange County brokerage executives to share their thoughts about the consolidation trend. They discuss some key factors that are contributing to the mergers and acquisitions activity, such as low interest rates and increasingly complex regulations, as well as risks that come with the changes. Here are edited excerpts of their responses.
Biggest Firms Combine For $570M, Up 13%
Orange County’s insurance brokers grew for the fifth straight year, notching a 13% increase in combined revenue last year.
Campus Approach, 24 Startups in San Juan Capistrano
Defining Frost Data Capital isn’t easy, says Stuart Frost, a serial entrepreneur who founded the San Juan Capistrano-based company to invest in startups focused on “big data.”
Huntington Beach-based insurance services company Confie has acquired four insurance brokers in three states.
Irvine-based Pacific Premier Bancorp Inc. has agreed to acquire Security California Bancorp in Riverside for about $119 million.
Newport Beach-based Alliant Insurance Services Inc. has named Ilene Anders as chief financial officer.
Ten members of the Business Journal’s annual OC’s Wealthiest list made the recent Forbes 400 list, which ranks the wealthiest Americans by estimated net worth.
Orange County Business Bank has agreed to sell to HomeStreet Inc. for $55.3 million.
Revenue Rises 30% to $16B; Jobs Up 48% to 12,241
The biggest of the fastest-growing private companies in Orange County combined to boost revenue by 30% over the past two years to an estimated $15.7 billion.
Midsize Companies Make Up Nearly Half of Total, Take in $2.4B
The 71 fastest-growing private companies in Orange County with revenues between $10 million and $99.9 million combined to grow their top line by 84% over two years for an estimated $2.4 billion.