Florida-based Brown & Brown Inc. reported the asset acquisition of two insurance agencies headquartered in Dallas, Texas. ProTexn Inc. and Best Practices Insurance Agency Inc. were acquired by a wholly owned subsidiary of Brown & Brown.
ProTexn and Best Practices Insurance Agency, with combined annualized revenues of approximately $1 million, act as program administrators, managing general agents and brokers for lawyer’s and accountant’s professional liability insurance primarily in Texas and surrounding states.
Joseph M. “Joe” Barnard, president of the acquired agencies, and his current staff will continue to operate from their existing location, as a freestanding Brown & Brown profit center, the company said.
Source: Brown & Brown Inc.
Topics Mergers & Acquisitions Agencies
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