Brown & Brown (NYSE:BRO) of Daytona Beach and Tampa, Fla. has announced it has acquired the Ocala, Fla. Branch office of the Florida subsidiary of USI Holdings Corp. (NASDAQ:USIH).
The acquisition was jointly announced by C. Roy Bridges, Brown & Brown Inc. regional executive vice president and Robert S. Schneider, USI Holdings Corp. chief financial officer.
The Ocala branch office of USI Holdings Corporation, with annualized revenues of approximately $1.5 million, is a mid-market retail commercial property and casualty insurance agency operation. Michael Powell and the Ocala USI office staff will be combining with Brown & Brown’s existing Ocala operation, under the direction of Brown & Brown’s profit center manager D. Craig Curry. Mike Powell of USI will become the sales manager for the combined operation.
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third-party administration, and managed health care programs.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Florida Man Faked Brain Injury for Years in Attempt to Gain $6M in Insurance 
Lawsuit Alleges Microbetting Product by DraftKings, FanDuel, NFL Leads to Addiction 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
