Brown & Brown hits shopping spree, picks up insurers & benefit units
US insurance brokerage Brown & Brown is on an M&A rampage, announcing a smattering of employee benefits and insurance acquisitions in a single day.
Brown and Bown will pick up VistaNational Insurance Group, a provider of employee benefits solutions in the Midwest group hand in hand with the retirement of its founder.
Brown and Brown will likewise pick up a group of three marine industry insurers in New England from their founders: Smithwick & Mariners Insurance, MidCoast Insurance and Chapman & Chapman Insurance. Founders Scott and Chris Smithwick will stay on with the operation.
Brown & Brown's regional president for retail in New England Don McGowan commented: “The Smithwick & Mariners companies are recognized in Maine and throughout New England for their experience and industry knowledge in the commercial fishing, marine and personal yacht space. Scott, Chris and their dedicated team have a long and mutually successful relationship with their carriers, allowing them to deliver best-in-class insurance solutions to their customers. We are confident we share the same culture of customer-first solutions.”
Brown & Brown's regional president for retail for the Vista acquisition Paul Rogers noted: “For more than 25 years, VistaNational’s experienced team has combined their impressive industry knowledge with practical technology solutions to deliver a wide variety of employee benefits products and services to their customers. We are honoured they have chosen to continue their journey as part of the Brown & Brown team and look forward to many years of continued success.”
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