A definitive agreement for a Brown & Brown subsidiary to acquire the assets of Axiom Intermediaries LLC has been signed by Jim W. Henderson, Brown & Brown president and COO, and Horace M. “Jay” Johnson Jr., Axiom Intermediaries president and CEO.
Finalization of the transaction is subject to satisfaction of certain customary conditions. Brown & Brown has headquarters in Daytona Beach and Tampa, Fla., and Axiom is headquartered in Stoney Creek, N.C.
Axiom Intermediaries, with approximately $14.0 million in annualized revenues, is a reinsurance intermediary and consulting firm with offices in Stoney Creek; St. Petersburg, Fla.; Naperville, Ill. and Wilton, Conn.. Following the acquisition, Brown & Brown’s existing reinsurance intermediary will be merged into Axiom. Axiom’s current management will lead the combined operations from its Stoney Creek headquarters and continue to serve clients at its current locations.
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, and managed health care programs.
Topics Mergers & Acquisitions
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