Brown & Brown of Florida, Inc., a subsidiary of Brown & Brown, Inc., has acquired certain assets of BenTrust, which includes Bentrust Financial, Inc. d/b/a Bentrust Insurance Group; Bentrust AIB, LLC, and Florida MGA, LLC d/b/a Delta Dental MGA, according to J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., and Frank J. Carreras, Mike J. Alvarez, Vince Castro, and Luis F. Quiñones, the principals of Bentrust Financial.
BenTrust was founded by Frank Carreras in 1999 and has annual revenues of approximately $4.0 million. The firm provides a range of retail insurance products and services to clients throughout Florida. Following the transaction, the BenTrust team will remain in their current Miami location as a branch of Brown & Brown’s existing Miami operations and will be managed by Castro, BenTrust’s existing chief marketing officer. The combined offices will operate under the leadership of Fausto Alvarez, Jr., executive vice president of Brown & Brown of Florida.
Charles H. Lydecker, who oversees Brown & Brown’s retail operations in Florida, said the transaction will enable the combined offices to offer a wider variety of products to their respective clients.
Brown & Brown, Inc., through its subsidiaries, offers a range of insurance and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Brown & Brown serves business, public entity, individual, trade and professional association clients nationwide.
Topics Mergers & Acquisitions Florida
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