Smart Choice has expanded its mergers and acquisitions (M&A) programme with the appointments of Mike Strakhov and Morgan Harriss, as the agency channel continues to see robust deal activity across the insurance sector.
Mike Strakhov has been named president of Smart Choice’s retail division, bringing more than 20 years of senior leadership experience in finance, risk management, and field operations. Strakhov is also the founder of the Insurance Networks Alliance, a trade association that has become a major industry organization. His career includes senior roles at Chubb, Live Oak Bank, and Westfield Bank, providing him with extensive experience in the insurance and financial sectors.
Morgan Harriss joins as vice president of retail mergers and acquisitions. Harriss is a seasoned M&A professional with a focus on insurance sector transactions and financial institutions. She previously held key M&A positions at Live Oak Bank and Westfield Bank, specializing in deal sourcing, valuation, and execution for independent insurance agencies.
Andrew Caldwell, CEO of Smart Choice, said the new appointments represent a significant step forward for the company’s acquisition strategy. Strakhov highlighted the opportunity presented by demographic shifts in the insurance industry, noting that agencies looking to transition deserve strategies that honour their legacy and maintain client relationships. Harriss added that the team’s approach goes beyond financial metrics, taking into account brand strength, community ties, and the value of existing agency staff.
The appointments come at a time of sustained M&A activity in the insurance distribution sector. Across the US, agency and broker acquisitions have remained strong in 2025, driven by factors such as succession planning, private equity investment, and the desire for scale and diversification. Major consolidators - including Acrisure, Hub International, Gallagher, and Brown & Brown - have continued to acquire independent agencies, with deal volume remaining high despite some moderation from record levels in previous years.
Industry analysts note that recent transactions increasingly focus on cultural fit, technology integration, and long-term value creation, rather than purely on financial multiples. Many buyers are prioritizing the preservation of agency identity and client relationships, reflecting a shift in how success is measured in agency M&A.
The focus on agency culture, continuity, and client relationships reflects a broader shift in the agency M&A landscape. As the market evolves, independent agencies and acquirers alike are increasingly seeking partnerships that balance growth ambitions with respect for legacy, staff, and community ties. This trend is expected to continue shaping deal strategies and integration approaches across the insurance distribution sector in the coming years.
Smart Choice has been named as The Best Insurance Networks and Alliances in the USA. See the list of winners in 5-Star Networks and Alliances special report here.
