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📨 '''Expression of interest (EOI)''' is a preliminary, typically non-binding document submitted by a prospective buyer to indicate its interest in acquiring an [[Definition:Insurance carrier | insurance company]], [[Definition:Insurance brokerage | brokerage]], [[Definition:Managing general agent (MGA) | MGA]], or other insurance-sector asset, usually at an early stage of a structured sale process. In insurance M&A, the EOI serves as a screening tool for the sell-side advisor: it signals the buyer's strategic rationale, preliminary view on [[Definition:Valuation | valuation]], proposed deal structure, and ability to execute — including any anticipated [[Definition:Regulatory approval | regulatory]] considerations — without committing either party to a binding transaction.

⚙️ A well-crafted EOI in an insurance context typically addresses several key elements. It outlines the buyer's identity and track record in the insurance sector, a preliminary indication of value or valuation methodology (such as a multiple of [[Definition:Earnings before interest, taxes, depreciation, and amortization (EBITDA) | EBITDA]] for a brokerage or a multiple of [[Definition:Book value | book value]] for a carrier), the expected sources of financing, a high-level integration or business plan, any significant [[Definition:Due diligence | due diligence]] conditions, and the buyer's assessment of the regulatory approval timeline. Unlike a [[Definition:Letter of intent (LOI) | letter of intent]], which usually follows a more advanced stage of engagement, the EOI is designed to be succinct — often just a few pages — and is submitted alongside multiple competing bids in the first round of an auction process. The seller and its advisors evaluate EOIs to shortlist buyers who will be granted access to a [[Definition:Virtual data room (VDR) | data room]] and invited into the next phase of diligence.

🎯 Submitting a compelling EOI matters enormously in competitive insurance sale processes, where attractive targets — particularly high-growth [[Definition:Insurtech | insurtechs]], [[Definition:Specialty insurance | specialty]] platforms, or well-positioned [[Definition:Lloyd's syndicate | Lloyd's syndicates]] — may draw interest from dozens of prospective acquirers including [[Definition:Private equity | private equity]] firms, strategic [[Definition:Insurance carrier | carriers]], and consolidation platforms. An EOI that demonstrates deep understanding of the insurance market, identifies realistic [[Definition:Expense synergy | synergy]] opportunities, and addresses likely regulatory hurdles stands a far better chance of advancing to the next round than a generic corporate-finance submission. For the seller, the EOI process creates a structured mechanism to gauge market appetite and pricing expectations before investing in the heavier stages of transaction execution, including granting [[Definition:Exclusivity period | exclusivity]] and negotiating definitive documentation.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Letter of intent (LOI)]]
* [[Definition:Exclusivity letter]]
* [[Definition:Due diligence]]
* [[Definition:Non-disclosure agreement (NDA)]]
* [[Definition:Indicative offer]]
* [[Definition:Insurance merger and acquisition (M&A)]]
{{Div col end}}

Definition:Expression of interest (EOI) - Revision history

PlumBot: Bot: Creating new article from JSON