Inszone Insurance Services has acquired D.B. Insurance Services, adding a San Antonio personal lines agency whose business has been built in large part around referrals from mortgage brokers.

Founded by Darrell Boyd in 2011, D.B. Insurance sells auto, home, condo and renters coverage. Its relationships with mortgage brokers have been an important source of customers, putting the agency close to the point at which a home purchase or financing creates an immediate need for insurance.

The acquisition gives Inszone another distribution channel tied directly to the homebuying process, and it follows a similar deal earlier this year.

Referral networks become a strategic asset

In March, Inszone acquired Jaffery Insurance & Financial Services, an Omaha personal lines agency that also built much of its book through relationships with real estate agents and mortgage professionals.

The similarity between the two acquisitions suggests Inszone is looking beyond traditional book acquisition. Referral networks can give buyers access to new customers at the moment insurance is needed, rather than simply adding existing policyholders to a larger platform.

The strategy also comes as insurance agency M&A becomes more selective.

North American insurance agency acquisitions fell 15% year over year to 292 in the first half of 2026, according to OPTIS Partners. The total was 24% below the previous five-year average and represented the lowest first-half transaction count since 2016.

While valuations remain strong for larger, well-run agencies, buyers have become more selective about the businesses they acquire.

Inszone remains an active buyer

Inszone completed 33 acquisitions during the first six months of 2026, making it the second-most active buyer behind BroadStreet Partners, which completed 37 deals.

That was down from Inszone’s 45 acquisitions during the same period last year. Its trailing 12-month acquisition pace, however, was up 33%, according to OPTIS.

Private equity-backed and hybrid buyers continued to dominate the market, accounting for about 76% of announced transactions over the trailing 12 months and 80% of deals during the second quarter.

The D.B. transaction therefore fits into a more selective acquisition environment in which buyers are looking for businesses with clear strategic value rather than simply pursuing volume.

Employees and carrier access

Boyd said his priority during the sale was ensuring his employees were taken care of during the transition. He said a friend had referred him to Inszone and that he ultimately preferred the brokerage after discussions lasting about a year.

Following the acquisition, D.B. employees will gain access to Inszone’s carrier relationships and centralized support functions, according to CEO Chris Walters.

Financial terms were not disclosed.

For Inszone, the deal adds another personal lines agency, but the more strategic asset may be the distribution model behind it: a referral network embedded in the mortgage and homebuying process.