Brown & Brown Acquires Kentucky-based The Anderson Group

The acquisition of The Anderson Group of Owensboro, Ky., has been announced by Brown & Brown Inc. of Daytona Beach and Tampa, Fla. The announcement was made jointly by J. Scott Penny, Brown & Brown regional executive vice president and Eric E. Anderson and C. Todd Anderson, principals of TEBA Inc., doing business as The Anderson Group.

TEBA Inc., with annualized revenues of approximately $1.2 million, is the property and casualty arm of The Anderson Group, the employee benefits portion of which Brown & Brown acquired in 2003. This transaction brings all lines of The Anderson Group’s business under the Brown & Brown banner. The agency serves the property and casualty insurance needs of individual and commercial clients throughout the Owensboro and Evansville, Ind. area. Todd Anderson and his staff will continue to serve their clients from Brown & Brown’s existing Owensboro location.

“During the two and a half years that The Anderson Group’s employee benefits operation has been associated with Brown & Brown very positive things have transpired,” said Todd Anderson. “This makes us extremely excited to be joining the seventh largest insurance intermediary. We are looking forward to the specialized insurance expertise that Brown & Brown brings to the table, not only for our team, but also for our present and future clients.

“We are pleased to have Todd and his team of insurance professionals join us,” said Penny, who is responsible for Brown & Brown’s operations in the midwestern United States. The re-joining of both parts of this group offers new opportunities of service for existing clients, as well new ones, throughout the region.”

Source: Brown & Brown Inc.

Topics Mergers & Acquisitions