Brown & Brown Acquires Texas Agency
|NU Online News Service, July 1, 11:12 a.m. EDT?Daytona Beach, Fla.-based insurance broker Brown & Brown Inc.announced the acquisition of Bailey-Gosling Associates Inc. of SanAntonio, Texas.
|Bailey-Gosling is a retail commercial property-casualtyinsurance agency that has served clients throughout the greater SanAntonio area for over 30 years. The agency has annualized revenuesof approximately $1.6 million, Brown & Brown said.
|The agency will operate as a stand-alone operation. Mike Smith,executive vice president of Bailey-Gosling, is to assume the roleof profit center manager reporting to Bill Harrison Jr. at Brown& Brown's existing San Antonio operation, Coleman CompanyInsurance Services.
|No terms for the transaction were announced.
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