NU Online News Service, Nov. 29, 3:29 p.m. EST
|Daytona Beach, Fla.-based insurance broker Brown & Brownsaid its subsidiary, Brown & Brown of Indiana, has acquiredMavum Consulting and Mavum Risk Management.
|Financial terms of the acquisition were not released.
|With annualized revenues of approximately $1.3 million, Mavumcompanies, headquartered in Indianapolis, provide insuranceproducts and services to businesses and individuals throughout thegreater Indianapolis metropolitan area.
|Brown & Brown said Mavum companies employees will relocateto Brown & Brown of Indiana's existing Indianapolis office,under the leadership of Fred McClaine.
|Rodney R. Reasen II, the founder and owner of the Mavumcompanies, will assist in the transition of the acquired operationsto Brown & Brown.
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