The acquisition of Timothy R. Downey Insurance Inc., dba. Downey Insurance of Kokomo, Ind. has been jointly announced by Jim W. Henderson, Brown & Brown Inc. president and CEO and Timothy R. Downey, Downey Insurance chairman. Brown & Brown has headquarters in Daytona Beach and Tampa, Fla.
Downey Insurance, with annualized revenues of approximately $7.4 million, specializes in providing insurance, risk management, administrative and related services to public and quasi-public entities throughout Indiana.
The agency’s acquistion represents another solid expansion of Brown & Brown’s Public Entity Services Division in serving the insurance and administrative needs of the public sector.
Patrick A. Downey, acting as Profit Center manager, along with Tim Downey and their staff, will continue to operate at their current location as a stand-alone operation of Brown & Brown Public Entity Services.
“Downey Insurance represents another important addition in our strategic plan to continue our leadership in providing products and services to governmental and quasi-governmental entities throughout the United States,” K. Shane Caldwell, Brown & Brown Public Entity Services head said. “We are very pleased that Tim and Pat have elected to join our family of public sector specialists.”
Brown & Brown, Inc. and its subsidiaries offer insurance and reinsurance products and services, as well as risk management, third-party administration, and managed health care programs.
Topics Mergers & Acquisitions
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