Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired insurance agency Preferred Insurance Services LLC of Phoenix. Financial terms were not released.
The newly purchased firm has annualized revenues of approximately $1.3 million and focuses on property-casualty and benefits insurance for individuals and businesses in Phoenix and throughout the United States, said Brown & Brown.
Gary F. Hapip, Craig S. King, Gary R. Honea, the principals of Preferred Insurance Services, and their staff will combine their agency operations with Brown & Brown's Phoenix office, headed by John Slater.
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