Brown & Brown of Texas Acquires Benefit Dynamics

Michael A. Garguilo, president and chief operating officer of Brown & Brown Insurance Services of Texas Inc., a wholly owned subsidiary of Brown & Brown Inc., announced the asset acquisition of Houston-based Benefit Dynamics Inc. in a transaction that was effective Dec. 1, 2003. The announcement was made jointly with Richard A. Matthews, president of Benefit Dynamics.

Benefit Dynamics is a retail employee benefits insurance agency serving clients throughout the greater Houston area. Richard Matthews is joining Brown & Brown and will become a senior member of the Employee Benefits Department of the Houston office of Brown & Brown of Texas.

Garguilo noted that, “Rick and the Benefit Dynamics team share our company’s commitment to middle-market employee benefit buyers, by providing a level of service consistent with that focus. Their addition further strengthens our already strong employee benefits presence in Texas and represents a very positive development in our strategy for continued growth in this market. Rick and his team now have significantly greater resources at their disposal for responding to the insurance needs of their clients. We are quite pleased to welcome these dedicated professionals to our Texas operations.”

Topics Mergers & Acquisitions Texas