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

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

Today, Daytona Beach, Fla.-based Brown & Brown says its subsidiary, Brown & Brown of Connecticut, has acquired Corporate Benefit Consultants LLC., of Durham, Conn.

Founded in 1997, Corporate Benefit has combined annual revenues of approximately $3 million. The firm provides specialty employee-benefits brokerage and consulting services for public- and private-sector clients in Connecticut, Florida and throughout the Northeastern United States.

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

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

Founded in 2000, Bushong is a retail insurance broker providing commercial property and casualty and risk-management services for residential condominium and homeowner associations as well as apartment communities, rental pools, resorts and management companies.

The firm's associates, about eight employees, will continue to operate in Ponte Vedra Beach under the direction of Mitchel Brashier, Southeastern regional manager of Gallagher's retail P&C brokerage operation.

The firm also announced it acquired Independent Fiduciary Services Inc., an institutional-investment advisory firm headquartered in Washington, D.C.

Founded in 1986, Independent Fiduciary provides ongoing and project-based investment consulting as well as fiduciary decision-making services to the firm's pension, welfare and other institutional-investor clients throughout the United States. The firm's clients span ERISA funds, including both Taft-Hartley and corporate plans, as well as public-pension plans and other institutional investors.

Francis Lilly, Samuel Halpern, the principals, and their staff of about 35 employees will continue to operate from their current Washington and Newark, N.J., locations under the direction of Michael J. DiCenso, president of GBS Investment Consulting LLC, a division of AJG's employee-benefit consulting and insurance-brokerage operations.

Terms of all three transactions were not released.