Brown & Brown calls off Hauser acquisition deal

Insurance broker Brown & Brown has terminated its deal to buy Cincinnati, Ohio-based insurance agency Hauser with immediate effect.

J. Scott Penny, chief acquisitions officer of Brown & Brown, and Mark Hauser, chairman of Hauser announced Aug. 10 that Brown & Brown has entered into an agreement to acquire the assets of Hauser.

The transaction was expected to close in September 2020, subject to certain closing conditions.

Hauser specialises in M&A and risk advisory services for the private equity industry. The agency was founded 50 years ago by the Hauser family, and is led by Mark Hauser and James Stines.