Insurance Brokerage M&A in Spain: 2025 Deal Insights

The Spanish insurance brokerage market is undergoing an accelerated consolidation process driven by the confluence of multiple factors: competitive advantages of scale, generational succession challenges among independent brokers, substantial private equity investment, heightened competitive pressure and growing regulatory and technological requirements.

Spain has positioned itself as one of the most active markets in Europe. This transactional intensity reflects not only the attractiveness of the Spanish market, but also a fundamental reality: for many independent brokers, the strategic dilemma is increasingly binary: invest heavily to achieve professionalisation or seek integration with a larger platform.

The market is clearly evolving from a volume-driven consolidation phase toward a more selective and executionfocused environment, where integration capabilities, talent retention and client continuity are the primary determinants of long-term value. For acquirers, sustainable value creation depends less on the number of transactions closed and more on disciplined execution, robust legal structuring, and the protection of human capital and client relationships.

You can read the full Legal Briefing here.