Nichols & Assoc., of Philadelphia, Pa., has been acquired by Brown & Brown of Tampa and Daytona Beach, Fla., according a joint announcement by Thomas E. Riley, regional president of Brown & Brown Inc. and Val E. Nichols, president of Nichols & Associates.
Nichols & Assoc. has annualized revenues of approximately $1.2 million. It is a retail insurance agency that specializes in placing coverage for large health care institutions and physician groups, including medical malpractice coverage. Nichols and his team will continue to operate from their current location as a new freestanding Brown & Brown profit center.
Nichols & Assoc. will provide Brown & Brown with expanded resources and service capabilities, with emphasis on the medical malpractice and other coverage needs of healthcare industry clients.
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