Fla.-based Brown & Brown Inc. and the Combined Group Companies, of Carrollton, Texas, announced the asset acquisition of the Combined Group by a Brown & Brown subsidiary.
The acquisition includes Combined Group affiliates: The Combined Group Inc., CIA Managing General Agency, Inc., Combined Independent Agencies Inc., Combined Premium Finance Inc., Anchor Claims Management Inc., Anchor Risk Management Services Inc., Case Integration Administrators Inc., Quote Express Inc. f/k/a Combined Independent Agencies of Texas Inc. and Quantum Integrated Systems Inc.
The Combined Group of Companies, with aggregate annualized revenues of approximately $12.6 million, have been serving the people and businesses of Texas for 18 years. The Combined Group companies primarily operate as managing general agencies which market, underwrite and administer risks for insurance underwriting companies. The companies focus on the areas of Texas Nonsubscriber (Workers Compensation “Opt-Out” insurance) and small account standard lines and excess and surplus property, liability and package lines of business utilizing the proprietary web-based QuoteExpress system.
Blake Stock, Michael Hardin, Edmund Dabrowski and Lynn Berg, along with their staff of insurance professionals will continue to operate the various agencies from the existing location in Carrolton as freestanding Brown & Brown operations.
Source: Brown & Brown, www.bbinsurance.com.
Topics Mergers & Acquisitions Texas
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