Brown & Brown Acquires Assets of Spain Agency in New York

Brown & Brown Inc. announced today that its subsidiary Brown & Brown of New York Inc. has acquired certain assets of Spain Agency Inc., an independent agency based in Mahopac, New York. Terms of the transaction were not disclosed.

Founded by the Spain family in 1922, the agency provides a range of commercial and personal lines insurance, primarily in New York, and has a focus on the insurance needs of municipalities. It has annual revenues of approximately $6.5 million.

As part of the transaction, Michael Spain, Brian Miles and their team will continue to operate out of Spain Agency’s existing office in Mahopac.

Florida-based national insurance broker Brown & Brown Inc., through its subsidiaries, offers insurance and reinsurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration and other services. Brown & Brown serves business, public entity, individual, trade and professional association clients nationwide.

Topics Mergers & Acquisitions New York