B&B Acquires Niagara Insurance Group

NU Online News Service, Jan. 5, 11:56 p.m. EST?Brown & Brown, Inc., announced its second acquisition this year, purchasing Niagara Insurance Group, based in Williamsville, N.Y. Terms of the transaction were not released. [@@]

Brown & Brown said the group, which consists of Niagara Risk Management Associates, Inc., and Niagara Benefits Group, Inc., has annualized revenues of approximately $4.5 million. It is a retail insurance agency which focuses on serving both the commercial property and casualty and employee benefits needs of its clients. The agency operates throughout the Northeast with its primary presence in the greater Buffalo - Niagara region.

Theodore R. Sobolewski, Jr., chief executive officer of Niagara, and his team, will continue to operate from their current location. In addition, Niagara's recent acquisition of the John G. Berger Insurance Agency, Inc. and its leadership team, John G. Berger, Sr. and Marcia Roberts, will also become part of the Brown & Brown team.

The acquisition became effective Jan. 1. This is the second acquistion announce by the Daytona Beach, Fla.-based insurance broker this year. On Friday the broker announced the acquisition of Eugene W. Pashley Insurance Agency of Marmora, N.J.

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