Beach acquires broker from Brown & Brown

Broker Brown & Brown has sold its reinsurance arm, Axiom Re, to broker Beach & Associates as part of its strategy to exit the reinsurance brokerage space.

The transaction will see Brown & Brown assisting Beach with transition of teammates, payroll, benefits administration and other post-closing operational matters.

Brown & Brown's, Evergreen Re and Beecher Carlson's managed care operations will be merging to create expanded managed care capabilities, which will operate under the name of Beecher Evergreen Managed Care.

The former Axiom Re team will continue to operate in North Carolina under Mike Cross's leadership, and will be part of Beach's North American operations.