Brown & Brown subsidiary snaps up wholesale insurance broker in the US
Brown & Brown, through its subsidiary Peachtree Special Risk Brokers, has acquired substantially all of the assets of RLA Insurance Intermediaries.
RLA is a wholesale insurance broker serving retail insurance agents. The firm specialises in offering professional lines, property and casualty, and healthcare coverages in the US.
Following the acquisition, RLA will continue to operate from its existing headquarters in Boston, Massachusetts and other locations in West Palm Beach, Florida; Brentwood, Tennessee; Potomac Falls, Virginia; and Manassas, Virginia. The offices will continue under the leadership of Jeff Hays and will form a new stand-alone operation within Brown & Brown’s Wholesale Brokerage Segment.
Kathy Colangelo, a senior vice president overseeing certain offices in Brown & Brown’s Wholesale Brokerage Segment, said: “Since its inception in 2010, RLA Insurance Intermediaries has grown rapidly into a premier wholesale broker. In addition to adding a number of high-quality teammates to our organization, this transaction expands the Wholesale Brokerage Segment’s footprint geographically and likewise enables us to expand the depth and breadth of products and services we can offer our customers.”
Hays said: “This transaction with Peachtree provides a platform for our team of brokers to lever their many strengths, which include inexhaustible work ethic, extraordinary market knowledge, and relationship-based client management. We could not be more excited for the exponential growth opportunities ahead and even greater customer satisfaction in our results.”
