According to the report, the explosion in employee benefits agency sales was fueled by Alera, Acrisure and several other active acquirers. (Photo: Shutterstock)

Mergers and acquisitions of insurance agencies skyrocketed in 2017, rising 31 percent from 2016’s 461 deals to hit 604 deals last year.

Insurance Journal’s report, based on numbers from OPTIS Partners, says the statistics cover agencies selling primarily property/casualty insurance, agencies selling both P/C and employee benefits, and employee benefits agencies.

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