Brown & Brown Announce the Asset Acquisition of Ideal Insurance Agency

Florida-based Brown & Brown Inc. recently announced the asset acquisition of Ideal Insurance Agency, Inc.

Making the annoucement through a written statement were J. Powell Brown, regional executive vice president, responsible for Brown & Brown, Inc.’s Public Entity Services, and Gerald W. “Gerry” Grupe, president of Ideal Insurance Agency, Inc., based in Downers Grove, Ill.

Ideal Insurance Agency, with annualized premiums revenues of approximately $3.1 million, is a retail and wholesale organization providing insurance program administration, claims administration and related services to public and quasi-public entities in Illinois.

The agency is one of two exclusive marketing agents for the Illinois Public Risk Fund, the self-insured fund for worker’s compensation coverage for public entities in Illinois. Ideal is also the regional director for Volunteer Firemen’s Insurance Services, Inc., a provider of property and liability coverages for fire districts and other emergency services organizations for the state of Illinois. Gerry Grupe, Ronald W. Dukes, and their staff will continue at their current location as a stand-alone operation of Brown & Brown Public Entity Services.

K. Shane Caldwell, president of Brown & Brown Public Entity Services, said, “Ideal Insurance represents another solid expansion of Brown & Brown’s Public Entity Services division, a nationwide leader in providing products and services to governmental and quasi-governmental entities throughout the United States. We are very pleased to have Gerry and Ron join our growing family of public sector specialists.”

Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. For more information go to www.bbinsurance.com.

Source: Brown & Brown, Inc.

Topics Mergers & Acquisitions Illinois