Two subsidiaries of Daytona Beach, Fla.-based insurance broker Brown & Brown announced acquisitions totaling more than $20 million in annualized revenues.
Brown & Brown's wholesale subsidiary, Ft. Lauderdale, Fla.-based Hull & Company, said it acquired Hatboro, Pa.-based Delaware Valley Underwriting Agency Inc. (DVUA) and its subsidiary, Residential Underwriting Agency Inc.
Founded in 1947, DVUA is a wholesale broker doing business in Pennsylvania, Massachusetts, New Jersey, West Virginia, and North and South Carolina. Revenues from the acquired firms stands at $15 million, Hull said. Both will continue to operate under their current names as divisions of Hull & Company.
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