Sequel Insurance Agencies, SIAA's dedicated retail and perpetuation entity launched in 2025, has acquired Watkins Insurance Group, adding five office locations across Austin and Central Texas to the platform. The deal is the latest in a run of acquisitions for a platform built on a specific proposition: giving independent agency owners a succession route that preserves brand, staff and client relationships rather than selling into a larger consolidating acquirer.
Watkins Insurance Group brings more than seven decades of Central Texas market presence and a workforce of more than 160 colleagues. Patrick Watkins, CEO of Watkins, will remain in his role alongside the agency's existing management team.
Sequel's acquisition strategy is designed for agency owners who want continuity rather than exit. The platform offers access to resources, specialty products and innovation while leaving local brand and service teams intact - a differentiated pitch in a market where most PE-backed consolidators rebrand acquired agencies into a national identity. That positioning matters most to multi-generational agencies like Watkins, where the principal's priority is ensuring the business survives in recognisable form rather than maximising sale proceeds.
"Joining Sequel represents an exciting new chapter for our agency," Watkins said. "Throughout our history, we have remained squarely focused on serving clients and supporting our people in delivering consultative risk management solutions. This partnership allows Watkins to maintain those commitments while gaining access to additional resources, innovation and specialty products to benefit our clients and team members for years to come."
Sequel now represents more than $550 million in premium across its network. The Watkins acquisition follows deals including Arbor Insurance Group, Feingold & Feingold Insurance Agency, Hyland, Block & Hyland, Paris-Kirwan Associates and 123 Insurance, alongside founding agencies GIA Group, Cogswell Insurance Agency and Insurance Circle Agency.
Sequel operates within SIAA's broader NXT platform, alongside SIAA's core independent agency alliance and its Xchange specialty distribution arm. SIAA is the nation's largest alliance of independent insurance agencies, with more than 5,200 members writing over $18 billion in total premium, and has been backed by Odyssey Investment Partners since 2021. That private equity backing has funded the build-out of SIAA's data, technology and perpetuation offerings, positioning Sequel as the succession vehicle for agency owners who want an alternative to conventional consolidator M&A.
The deal lands in one of the most active M&A markets in the country. Texas is the second-largest P&C insurance market by premium volume, with insurers writing more than $80 billion in direct premiums annually, making Central Texas agencies like Watkins attractive additions for national platforms expanding their footprint in a large, fast-growing state. MarshBerry has said insurance brokerage valuations remain roughly 19% above their 10-year average, with private capital-backed buyers expected to continue driving high M&A activity through 2026 - conditions that give well-capitalised platforms like Sequel continued pricing leverage and dealflow in markets where independent agency owners are evaluating succession options.
