Macaii S1 E012: The Art and Science of M&A: Insights from Glenn Hirchfield

People in Insurance: Changing the Conversation

In this episode of Changing the Conversation, we dive deep into the world of mergers and acquisitions (M&A) in the insurance industry with Glenn Hirchfield, founder of ALJ Consultancy. Glenn shares his extensive experience in M&A, offering valuable insights for both buyers and sellers in the insurance market. From the importance of cultural fit to the role of technology in valuations, Glenn provides a comprehensive overview of the current M&A landscape and offers advice for those considering selling their business.

Quote of the Episode:

"There is a flawed assumption that people are only interested in how much they can get for their business. And it's rarely, if ever, true that that's the primary driver for people." Glenn Hirchfield

Key Takeaways:

• The importance of cultural fit in M&A deals
• The value of honesty and transparency in the selling process
• The role of advisors in navigating the M&A landscape
• The impact of technology on business valuations
• The significance of soft skills and personal factors in M&A decisions

Best Moments/Key Quotes:

"Be yourself. Say things as they are about your business, because if you do the opposite and try and pretend that you are something that you're not, regrettably it gets found out."

"Please don't go into selling your firm thinking it's going to be easy. There are times when it's horrendous."

"We see life-changing amounts of money often getting into the hands of people that have lived quite frugally and who have really devoted their entire career to building up something."

Resources:

ALJ Consultancy website https://www.aljconsulting.com/

About the Guest: Glenn has over 30 years in financial services, with a vast network of senior contacts and experience from AIG, ACE, and senior UK broking roles. As CEO and founder of ALJ Consulting, he specialises in originating, structuring, and executing deals in the US and European insurance markets. He is also an operating partner at Apollo Global Management.

With deep expertise in M&A consulting and private equity, Glenn helps clients achieve strategic goals, providing tailored financial services and technology solutions. He assists private equity firms pre- and post-deal and helps sellers find buyers.

Glenn's capital-raising experience offers clients valuable M&A insights. He aims to deliver discreet, value-added services for client success in today's fast-paced market. Glenn is married with three children, is active in his local church, and enjoys golf and cricket.

About the Host

Sarah Myerscough is the Chief Ideas Officer at Macaii, formerly Boston Tullis. She hosts/co-hosts several podcasts and is known for her knack in connecting with people. Sarah excels in bringing out the best for video, podcast, and live events, helping clients showcase the human side of their business.

Sarah is passionate about the evolving dynamics of the insurance industry and enjoys conversing with innovators, trailblazers, and long-term advocates of change.

Website: www.macaii.co.uk