B&B Announces Two Acquisitions
NU Online News Service, March 15, 12:26 p.m. EST?Insurance broker Brown & Brown, Inc., announced the acquisition of two insurance agencies this week.
Today, the broker announced the acquisition of Manhardt-DiLeo Insurance Agency, Inc., of Piscataway, N.J.
The commercial property-casualty agency serves residents and businesses across central New Jersey and reported annual revenues of approximately $200,000. The agency's operations are to be combined with Brown & Brown's existing Washington, N.J, office.
The transaction was completed March 1.
Yesterday, the broker announced the acquisition of Associated Insurance Services of Bristol, Inc.
The Bristol, Tenn.-based agency is a major agency in the Bristol-Kingsfort-Johnson City tri-city area bordering Tennessee and Virginia, the Daytona Beach, Fla.-based broker said. With approximately $325,000 in annual revenues, the agency specializes in commercial property and casualty accounts, the firm said in a statement.
The agency's operations are to be combined with the broker's existing Bristol, Va., office.
Brown & Brown said the acquisition would be completed by April 1.
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