Brown & Brown Inc. will acquire New Jersey-based Excel Underwriters Alliance Inc. and Spirit Underwriters Inc., the Florid-based brokerage announced.
Terms of the transaction were not disclosed.
Excel and Spirit offer professional liability, directors and officers (D&O) liability, employment practices liability, managed care/medical malpractice liability, crime, and related liability insurance products and services, primarily to insurance providers and agents. They have combined annual revenues of approximately $1.3 million.
Excel provides open brokerage insurance solutions, while Spirit Underwriters is a managing general underwriter, offering products and services on both a direct and brokerage basis.
The acquired entities will continue to operate under the Excel and Spirit Underwriters brands, as divisions of Brown & Brown’s Mount Laurel, New Jersey-profit center.
__
Source: Brown & Brown
Was this article valuable?
Here are more articles you may enjoy.
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Fla. Commissioner Offers Major Changes to Citizens’ Commercial Clearinghouse Plan 
Jury Finds Johnson & Johnson Liable for Cancer in Latest Talc Trial 
Preparing for an AI Native Future 
