Brown & Brown acquires US broker WBR Insurance
Broker Brown & Brown has has acquired substantially all of the assets of Virginia-based independent insurance broker WBR Insurance, which operated until recently as part of Nationwide Mutual Insurance Company’s exclusive distribution model.
The acquired businesses include WBR Insurance Agency, Wilson Insurance Agency, Bell Insurance Agency Corporation, and Robertson Insurance Agency - collectively known as WBR Insurance. WBR is led by Alex Bell, II, Clarence Robertson, Jr., and John Wilson, Jr.
WBR offers a wide variety of property and casualty insurance products to businesses and individuals in Virginia and other states along the East Coast.
Following the deal, WBR's team will operate from their existing office as a branch location of Brown & Brown’s Norfolk, Virginia operations under the leadership of Bill Strachan and David McIlravy, who currently serve as president and executive vice president of Brown & Brown Insurance Agency of Virginia, respectively.
Mike Keeby, a regional president in Brown & Brown’s retail segment who oversees certain operations in Virginia, said: “Alex, Clay, and John have leveraged their impressive experience and expertise to build one of the premier insurance agencies in Virginia Beach. They have had great success as an exclusive Nationwide agency over the years, and we are excited to take this next step together and welcome them to the Brown & Brown team.”
Bell commented: “When Nationwide decided to change its distribution model from an exclusive to independent agency platform, we set out to find a larger independent partner that could serve the needs of our customers and employee team members. Brown & Brown shares the same values and commitment to customer service that have served us well since we formed our agency. We are so excited to become part of the Brown & Brown team and to continue meeting and exceeding our customers’ expectations.”
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