Brown & Brown acquires The Colonial Group
US broker Brown & Brown, through its subsidiary Hull & Company, has acquired substantially all of the assets of managing general agency The Colonial Group, which specialises in the areas of housing, recreational, and specialty insurance.
The acquired portfolio includes Affordable Home Services and Mobilhome Insurance Service (collectively known as Colonial Group).
Upon completion, The Colonial Group team will continue operating from its Greensboro, North Carolina office within Brown & Brown’s wholesale brokerage segment under the leadership of Jason Haupt.
Kathy Colangelo, a senior vice president in Brown & Brown’s wholesale brokerage segment, said: “Bob, Jason, and their team have built an impressive organization that fits very well both geographically and culturally within Brown & Brown. We continue to be impressed with their highly skilled and talented teammates and are excited about the growth opportunities ahead.”
Bob Burke, The Colonial Group’s chairman and chief executive officer, added: “Our entire organization is very excited to become part of the Brown & Brown team. The cultural fit, the entrepreneurial spirit, and customer focus of both organizations bodes well for our future success. We believe our customers, employees, and carriers will all benefit from this transaction.”
Haupt, The Colonial Group’s president and COO, added: “All of us here at The Colonial Group are so proud of what we have been able to accomplish together. We are extremely excited about our new chapter with Brown & Brown. As a specialty wholesaler, this new partnership offers us a wonderful opportunity to access resources and expand our carrier relationships, and to position our team for new opportunities.”
