NU Online News Service, June 14, 3:16 p.m.EDT

Insurance brokers Arthur J. Gallagher and Brown & Brownannounced a total of three acquisitions recently.

Today, Daytona Beach, Fla.-based Brown & Brown says itssubsidiary, Brown & Brown of Connecticut, has acquiredCorporate Benefit Consultants LLC., of Durham, Conn.

Founded in 1997, Corporate Benefit has combined annual revenuesof approximately $3 million. The firm provides specialtyemployee-benefits brokerage and consulting services for public- andprivate-sector clients in Connecticut, Florida and throughout theNortheastern United States.

Sonia L. Kaminsky and Joseph A. “Joe” Fields, principals ofCorporate Benefit, and their staff will join Brown & Brown ofConnecticut's offices in Rocky Hill, Conn.

Yesterday, Itasca, Ill.-based AJG said it acquired BushongInsurance Associations Inc. in Ponte Vedra Beach, Fla.

Founded in 2000, Bushong is a retail insurance broker providingcommercial property and casualty and risk-management services forresidential condominium and homeowner associations as well asapartment communities, rental pools, resorts and managementcompanies.

The firm's associates, about eight employees, will continue tooperate in Ponte Vedra Beach under the direction of MitchelBrashier, Southeastern regional manager of Gallagher's retailP&C brokerage operation.

The firm also announced it acquired Independent FiduciaryServices Inc., an institutional-investment advisory firmheadquartered in Washington, D.C.

Founded in 1986, Independent Fiduciary provides ongoing andproject-based investment consulting as well as fiduciarydecision-making services to the firm's pension, welfare and otherinstitutional-investor clients throughout the United States. Thefirm's clients span ERISA funds, including both Taft-Hartley andcorporate plans, as well as public-pension plans and otherinstitutional investors.

Francis Lilly, Samuel Halpern, the principals, and their staffof about 35 employees will continue to operate from their currentWashington and Newark, N.J., locations under the direction ofMichael J. DiCenso, president of GBS Investment Consulting LLC, adivision of AJG's employee-benefit consulting andinsurance-brokerage operations.

Terms of all three transactions were not released.