B&B Acquires Three Accounts
NU Online News Service, April 5, 10:37 a.m. EDT?Brown & Brown insurance brokerage firm said it has acquired two agencies and a consulting service. [@@]
The Daytona Beach, Fla.-based company said the firms are: Barker, Heslip, Bradshaw Agency Inc., of Rochester, N.Y.; Title Pac Inc. and PayEase Financial, L.L.C, of Muskogee, Okla.; and Risk and Insurance Consulting Services of Florham Park, N.J.
Transaction terms were not released.
Barker, Heslip, Bradshaw is a general insurance agency serving clients in New York and the surrounding states. The agency has reported revenue of approximately $1 million.
R. Peter Barker, president, and Constance M. Bradshaw, vice president, of Barker, Heslip, Bradshaw, and staff will combine their operations with Brown & Brown's existing Rochester, N.Y. office.
Title Pac and PayEase, with annual revenues of approximately $3.5 million, provides professional liability insurance and premium financing products and services for real estate title agents and escrow agents nation-wide.
Mark A. Pearson, president of Title Pac and PayEase, and staff, will continue to operate at the current location under the existing name.
Dominick S. Cinelli, the sole proprietor of Risk and Insurance Consulting, a risk management consulting service, will join Brown & Brown's new office in Florham Park, N.J.
The office was formed after the acquisition of Statfeld Vantage Insurance Group, L.L.C. and Waldor Agency Inc., both of Florham Park, N.J., announced last month (see NU Online, March 9), which were combined to form the new office.
Mr. Cinelli has had a long-standing relationship with Statfeld. He will become part of the new Brown & Brown office.
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