Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired The Combined Group, a Texas-based managing general agency based in Carrollton, Texas. Terms of the deal were not released.
The Combined Group of Companies, with aggregate annualized revenues of approximately $12.6 million, has served the people and businesses of Texas for 18 years. The Combined Group companies primarily operate as managing general agencies which market, underwrite and administer risks for carriers. Their primary focus is in the areas of Texas nonsubscriber (workers’ compensation “opt-out” insurance) and small account standard lines and excess and surplus property, liability and package lines of business, primarily utilizing its proprietary Web-based QuoteExpress system.
Blake Stock, Michael Hardin, Edmund Dabrowski and Lynn Berg, principals at Combined, along with their staff of insurance professionals will continue to operate the various agencies from the existing location in Carrollton as freestanding Brown & Brown operations.
The Combined Group of Companies consists of The Combined Group Inc.; CIA Managing General Agency Inc.; Combined Independant Agencies Inc.; Combined Premium Finance Inc.; Anchor Claims Management Inc.; Anchor Risk Management Services Inc.; Case Integration Administrators Inc.; Quote Express Inc., also called Combined Independent Agencies of Texas Inc.; and Quantum Integrated Systems Inc.