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Inszone buys Chelf Insurance Group to expand in Oklahoma
Chelf Insurance Group, founded in 2024, was sold after just two years, as North American agency deal volume fell in the first half of 2026.
Inszone Insurance Services has acquired Chelf Insurance Group, completing the deal as it looks to extend its presence in Oklahoma. Chelf, which began operations in 2024, had been independently run for only two years before the exit, a fast timeline that highlights what active acquirers are prioritizing even as insurance agency M&A cools.
Insurance Business reports that North American insurance agency deal volume dropped to the lowest first-half total in seven years, with 292 acquisitions recorded in the first half of 2026, down 15% from 342 a year earlier, according to OPTIS Partners data. The outlet also cites that private capital and hybrid buyers still made up about 70% to 72% of announced transactions in that period, while full-year 2025 closed at 695 deals, down 12% from 787 in 2024.
Co-owners Justin Crane and Nate Crow built Chelf Insurance Group into a local operation quickly, including acquiring a 50-year-old insurance book in 2025. The agency serves Stillwater and surrounding areas and offers employee benefits along with property and casualty, home, auto, commercial, and workers' compensation coverage.
Chelf’s co-owners said the rationale for the transaction centered on expanding the P&C side and using Inszone’s marketing resources, as well as gaining comfort from the acquirer’s team and support as they moved forward with the transaction, according to Insurance Business. In recent deals, smaller agency books have traded at about 7.5 to 9.0 times adjusted EBITDA, according to CT Acquisitions’ 2026 multiples report, suggesting valuations for well-run operations remain supported even as fewer buyers stay active.