b"SHIFTING FROM PORTFOLIO market share of intermediaries in the SME market TO BUSINESS THINKING has grown, while banks have virtually disappeared Oeben continued, 'Consolidation within thefrom the scene. Online insurance purchases are insurance market progressed rapidly. To illustratenow not only through insurers but also via the with some numbers, in 2005, there weredelegated authority channel. Intermediaries have approximately 250 insurers, but ten years later,become major players in 2023, with a strong that number reduced to only 123. In 2005, the(international) purchasing position compared to Netherlands had a total of 20,086 insuranceproviders and direct access to customers. Having agencies registered with the SER (predecessor ofbeen away from the company for several years, it's the AFM license), whereas in 2015, there were onlygreat to see that BHD Dullemond has continued 7,959. That's a reduction of 60% in the number ofto keep up with these market developments. As agencies in ten years. In this wave of consolidation,insurance agencies have grown in size, the deals Dullemond Business Advisory played an importanthave become larger and more complex, making role, and as a result of market changes, we furtherthe company much more of an M&A firm. Upon developed as an M&A firm. Commission becamestepping into Soest, one immediately notices the just a part of the remuneration model, and that'sgreat diversity of people, backgrounds, and high why we started focusing less on the portfolio andlevel of education. A culture that prioritizes quality more on the business itself. In our valuation andand personal development is still prevalent. It's brokerage, the emphasis shifted more towards theremarkable to witness the enduring presence of entire company, profitability, and earning capacity.' these values,' says Oeben.COLLABORATION IN THE CHAIN SUSTAINABLE RELATIONSHIPOeben: 'I started thinking about businessDe Graaf adds, 'Working somewhere for 25 succession in a timely manner and found a goodyears may seem like a long time, but due to the future owner in the SVC Group, accountants,company's development and growth, the work and advisors for financial service providers. Sinceremains enjoyable and challenging. I was very both companies operate in the same market, thispleased with Edwin's arrival, as we had already brought significant added value to our network, ascollaborated pleasantly with Kees for over seven well as a broadening of the service portfolio.' Deyears in the early days. Edwin is entrepreneurial Graaf adds: 'When Wim, after working in variousand a true M&A expert, which has enabled us roles at the company for 15 years, expressed histo take several significant steps in recent years. desire to retire, we started looking for someone toThe company has not only grown strongly in take the lead. Soon, we found Edwin Bosma. Edwinrevenue but also in the number of employees. It is had already built his own acquisition advisory firmexceptional to see that Edwin and Kees have never focused on insurance and brokerage companies.lost sight of each other over the past 25 years, and The two companies merged under the nameKees is still involved in the company. Last year, he BHB Dullemond acquisitions and advice B.V.guided the entire team during a strategy session While working together with SVC, we achievedin the Ardennes. This sustainable relationship and many great things, but accountancy and businesstremendous dedication have a resemblance to a acquisitions turned out to be two separatefamily business. That's why we still proudly carry worlds. Eventually, the synergy was not sufficientthe name of our founding father.'to continue together, so Edwin took over SVC's shares two years later, and the company relocated to Soest.' SHAKING UP THE DISTRIBUTION LANDSCAPE'Due to the consolidation wave, the distribution landscape in the insurance market has undergone significant changes. The intermediaries managed to maintain their position, surprising some. The ANNIVERSARY EDITION 57"