Florida-based Brown & Brown Inc., announced the purchase of the property and casualty insurance brokerage business of J.P. Morgan Insurance Agency Inc., located in Newark, Del.
The acquired business, with annualized revenues of approximately $4 million, consists primarily of personal lines property and casualty business. The agency specializes in responding to the needs of clients who require high value coverage for a broad range of residential and specialized, unique property such as works of art, collectibles and jewelry.
The management and staff of the acquired business will continue to operate in Newark, Del., as a new Brown & Brown profit center under the name Brown & Brown Private Client Group.
Source: Brown & Brown Inc.
Topics Mergers & Acquisitions
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