How are insurance intermediaries valued?

On recurring commission income, client retention, carrier relationships and the transferability of regulatory permissions. Buyers assess multi-year client retention, carrier diversification and revenue volatility when valuing the portfolio.

What regulatory steps apply to buying or selling?

Changes of qualifying holdings in regulated insurance undertakings and intermediaries require clearance involving the Commissariat aux Assurances, the sector supervisor. The approval timeline is built into the deal calendar from the start.

Who buys Luxembourg insurance businesses?

European insurance groups, broker consolidators active across the EU, and private equity platforms in intermediation. The cross-border character of the sector means most credible buyers already operate in several countries.

How does cross-border passporting affect value?

A book operating across EU markets under passporting arrangements is valued on that reach, and diligence verifies the permissions and notifications behind each market. Buyers verify the authorisations and documentation for cross-border revenue.

What does diligence cover for a broker sale?

Client and policy registers with retention history, commission terms by carrier, concentration on both sides, complaints and compliance records, professional qualifications, and data protection. Buyers use these records to verify retention, commission income and compliance.

Can we sell the portfolio instead of the company?

Portfolio transfers follow their own regulatory procedure and are sometimes the right structure, particularly for partial exits. The choice between share sale and portfolio transfer is a structuring decision made early with counsel, because it changes the process, timeline and buyer list.

Financial Services

What Is a Insurance Business Worth? – Luxembourg

A insurance business typically sells for 8.2x to 13.7x EBITDA. Where yours lands depends on size, growth and owner dependence. Get your instant estimate in EUR below.

Insurance Valuation Multiples

EBITDA Multiple10.92x typical

8.19x10.92x13.65x

Revenue Multiple3.19x typical

1.82x3.19x4.55x

Based on middle-market transaction data. Actual multiples vary based on company-specific factors.

Key Value Drivers for Insurance

01Commissariat aux Assurances licence
02Direct distribution capability
03Life and non-life portfolio mix
04Digital claims processing
05Solvency II compliance

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How to value a Insurance business in Luxembourg

Luxembourg's insurance sector is supervised by the Commissariat aux Assurances and is notably cross-border in structure: insurers and intermediaries here commonly operate across EU markets under European passporting arrangements, alongside those serving the domestic market. That structure defines how transactions in the sector work.

Valuation depends on the position in the value chain. Risk carriers are valued on solvency, portfolio quality, reserve adequacy and distribution reach. Brokers and intermediaries, the more common mid-market transaction, are valued on recurring commission income, client retention, and the regulatory permissions that let the book operate across borders.

Regulatory approval frames every change of ownership. Acquiring a qualifying holding in a regulated insurance undertaking or intermediary requires supervisory clearance, and buyers build that timeline into the process. Portfolio transfers, where a book moves rather than the company, follow their own regulatory procedure.

The buyer pool is European and consolidating: insurance groups, broker consolidators and private equity platforms active across the EU intermediation market. Diligence covers policy portfolios and claims history, client and carrier concentration, compliance records with the supervisor, and the professional qualifications on which permissions rest.