Median M&A Multiples
in Insurance Services
Source: William Blair proprietary insurance services database, as of October 7, 2019
The significant expansion in EV / EBITDA multiples for insurance services acquisitions has been driven largely by financial sponsors aggressively pursuing these less cyclical assets and strategic acquirers looking to use their robust free cash flow to generate inorganic growth.
15
10
5
0
2017
2018
2019 YTD
8.8x
12.4x
13.5x