B&B Buys Reinsurance Agency
NU Online News Service, Feb. 28, 1:01 p.m. EST?Insurance broker Brown & Brown announced the acquisition of Acumen Re Management Corp. of Mount Laurel, N.J.
Terms of the deal, effective March 1, were not disclosed.
The Daytona Beach, Fla.-based broker said Acumen is a reinsurance underwriting management organization specializing in workers' compensation placement with annual revenues of approximately $2 million.
The firm said that the existing management and staff would remain at their current location as a stand alone office.
Theodore A. Betoni Jr., president of Acumen, said in a statement, "We share a vision very similar to that of Brown & Brown. The combination of our organizations offers increased capacity and service for our clients, as well as increased growth opportunities for both our employees and our customers."
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