Brown & Brown acquires assets of Texas MGA TCIF and Arkansas' AIF
Texas Security General Insurance Agency, a subsidiary of insurance broker Brown & Brown, has acquired Texas Commercial Insurance Facilities (TCIF) and Arkansas Insurance Facilities (AIF) from Loving and Etheredge.
Following the acquisition, the TCIF and AIF teams will join Brown & Brown’s wholesale brokerage division as branch locations of its subsidiary Texas Security General Insurance Agency, and will report to Tom Contreras, president of Texas Security General Agency.
TCIF serves as a managing general agent (MGA) for Texas retail insurance agents placing commercial and personal surplus lines property and casualty business. It was founded in 1990 by Don Etheredge and Harold Loving. AIF provides similar services for retail agents in Arkansas, and together they have annual revenues of approximately $2 million.
Contreras commented: “TCIF and AIF have distinguished themselves with their outstanding service and stability, which has enabled them to build strong, long-term relationships with their retail agents and carrier partners. We are excited about the opportunity for TCIF and AIF to help expand our footprint in Texas and Arkansas and look forward to growing our businesses together.”
Etheredge said: “We are eager to join forces with Tom and his staff at Texas Security. Together with our new partners, the TCIF and AIF teams will continue to offer the highest standard of products and services for our customers as we have provided for the past 28 years.”
Make sure you are GDPR compliant and confirm your email address to keep getting our daily emails
More of today's news
IAG sells Asian businesses to Tokio Marine for $525m
Everest strikes strategic partnership with drone start-up Airware
RGA invests in insurtech start-up Fabric
