Brown & Brown Inc. announced the asset aquisition of Professional Risk Managers Inc. and PRM Group LLC (collectively the PRM Group)
The PRM Group, with annualized revenues of approximately $4.5 million, is primarily engaged in the property/casualty, surety, and group benefits insurance agency business in the New York City metropolitan area. The PRM Group will continue operating out of their current Purchase, N.Y., location.
Thomas E. Riley, regional president of Brown & Brown Inc., John P. Raucci, William M. Scott, Peter H. Goodstein, the principals of Professional Risk Managers Inc., and PRM Group LLC, announced the acquisition.
Riley noted, “We are very pleased to have John, Bill, Peter and the PRM Group insurance professionals join our New York team, as we expand our presence in the Empire state.”
Source: Brown & Brown Inc., www.bbinsurance.com.
Topics Mergers & Acquisitions
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