B&B Enters Energy Field
NU Online News Service, Dec. 2, 11:20 a.m. EST?Insurance broker Brown & Brown Inc., based in Daytona Beach, Fla., has acquired Energy and Marine Underwriters Inc. of Kenner, La. Transaction terms were not announced.
Energy and Marine Underwriters, with reported annualized revenues of approximately $1.8 million, is an insurance wholesaler focusing on the needs of the energy and maritime industries and related suppliers.[@@]
Geoffrey Hughes, a principal of the firm along with Nancy Hughes, will serve as profit center manager. The existing office and staff will remain at their Kenner location and continue to operate as Energy and Marine Underwriters Inc.
C. Roy Bridges, regional executive vice president of Brown & Brown, said in a statement welcoming Energy and Marine to Brown & Brown that the acquisition further strengthens the firm's maritime market business. It is also B&B's entry into the energy field, he added.
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