Brown & Brown Inc. announced that its subsidiary Brown & Brown of Connecticut Inc. has acquired substantially all of the assets of Smith Insurance, an independent agency based in Niantic, Connecticut. Terms of the transaction were not disclosed.
Smith Insurance has provided personal lines and commercial insurance services in Connecticut and Rhode Island for over 75 years. The agency has annual net revenues of approximately $5.5 million.
Smith Insurance will continue to operate from its current Niantic location under the leadership of the agency’s executives Bill Budds and Mike Meeneghan. The agency will report to Don McGowan, executive vice president of Brown & Brown of Connecticut Inc.
Headquartered in Daytona Beach and Tampa, Florida, Brown & Brown Inc., through its subsidiaries, offers a broad range of insurance products and related services for business, public entity, individual, trade and professional association clients nationwide. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services.
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