Case Study
Placing a Head of Corporate Development
Hanover recently partnered with a private equity-backed insurance distribution platform focused on acquiring and scaling independent insurance agencies across the United States.
The company is in the middle of expanding its platform, and as it does, corporate development leadership has become central to its ability to identify, assess, and execute the right opportunities. The brief called for a rare profile: someone with the technical credibility to lead transactions and the sector knowledge to operate effectively within the independent agency landscape.
Hanover delivered a search that resulted in the appointment of a proven insurance M&A leader, giving them the leadership capability to support its acquisition agenda and strengthen the platform for continued expansion.
Background
Our client operates within the independent agency network and insurance distribution ecosystem, supporting agencies through carrier access, operational support, and growth resources. The company is in an active growth phase and pursuing an ambitious acquisition strategy to expand its national footprint.
To support this, the business needed to build out key leadership capabilities at the corporate level.
The Challenge
Our client required a Head of Corporate Development to lead its M&A strategy and execution. The role would be responsible for sourcing and executing acquisitions, building relationships with agency owners and intermediaries, and helping scale the company through disciplined inorganic growth.
Several factors made the search complex:
- New role creation: This was the first dedicated corporate development leader within the organization. The successful candidate would need to build the function from scratch while working closely with the executive team and private equity sponsor.
- Highly specialized industry knowledge: The role required deep familiarity with the insurance distribution landscape, including agency valuation, deal structures, and relationships within the independent agency ecosystem.
- Competitive talent market: Experienced M&A professionals with direct insurance distribution expertise are limited and highly sought after, particularly by PE-backed broker platforms.
- Growth-driven timeline: Hanover was engaged to identify and deliver a candidate capable of operating at both the strategic and execution level in a fast-moving, sponsor-backed environment.
The Outcome
Having successfully placed the Head of Corporate Development, our client was able to establish a dedicated M&A function to support its long-term growth strategy.
Since joining the organization, our candidate has played a key role in helping the company:
- Build a structured pipeline of acquisition opportunities
- Strengthen relationships across the independent agency market
- Support the company’s national expansion strategy
The appointment provided our client with a senior leader capable of driving deal flow and executing transactions in a competitive consolidation market.
By securing a candidate with both industry expertise and deal execution experience, our client was able to accelerate its acquisition strategy and further strengthen its leadership team as the platform continues to scale.
As insurance distribution platforms continue to scale through acquisition, leadership roles tied to corporate development are becoming increasingly important and increasingly competitive to hire for. If your business is building out leadership capability in this area, Hanover can help you identify the talent needed to support your growth strategy. Contact us today for a conversation.
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