Brown & Brown Inc. has acquired certain assets of insurance claims adjusting firm ICA Inc., based in Charlotte, North Carolina,
Terms were not disclosed.
With annualized net revenues of approximately $13.2 million, ICA provides insurance claims adjusting and related services, including third party administration (TPA) services, nationally.
ICA was founded in 1991 by Troy Brown, current CEO.
The announcement said that following the transaction, the acquired ICA operations will continue to operate from their existing locations in Charlotte, North Carolina; Richardson, Texas; and Gold River, California, under the leadership of Troy Brown.
Sam R. Boone Jr., regional executive vice president of Brown & Brown, said the deal will “broaden and strengthen” Brown & Brown’s insurance claims adjusting operations.
Brown & Brown offers insurance and reinsurance products and related services. Certain Brown & Brown subsidiaries also offer risk management, third-party administration and other services.