B&B Expands Public Entity Practice
|NU Online News Service, March 24, 11:51 a.m.EST?Daytona Beach, Fla.-based insurance broker Brown &Brown Inc. has acquired two managing general agencies: Saville& Associates Inc., based in Norcross, Ga.; and Public RiskUnderwriters Inc., based in High Point, N.C.
|The two agencies have combined annualized revenues ofapproximately $1.8 million, the firm said. Both specialize inproviding insurance products and services to public entities.
|The acquisition expands Brown & Brown's subsidiary, ProgramManagement Services Inc., which handles government sector insuranceneeds nationwide, the firm said.
|Robert V. "Bob" Saville, president of Saville, will act asprofit center manager. The broker said he and his staff wouldcontinue to operate the two businesses under their respectivenames, at their current locations.
|Terms of the transaction were not disclosed.
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