B&B Expands Public Entity Practice
NU Online News Service, March 24, 11:51 a.m. EST?Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. has acquired two managing general agencies: Saville & Associates Inc., based in Norcross, Ga.; and Public Risk Underwriters Inc., based in High Point, N.C.
The two agencies have combined annualized revenues of approximately $1.8 million, the firm said. Both specialize in providing insurance products and services to public entities.
The acquisition expands Brown & Brown's subsidiary, Program Management Services Inc., which handles government sector insurance needs nationwide, the firm said.
Robert V. "Bob" Saville, president of Saville, will act as profit center manager. The broker said he and his staff would continue to operate the two businesses under their respective names, at their current locations.
Terms of the transaction were not disclosed.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.