Brown & Brown Acquires Emerald Benefits
NU Online News Service, Feb. 14, 3:07 p.m. EST?Brown & Brown Inc. said today it has acquired Emerald Benefits Inc., of Weston, Fla.[@@]
Terms of the deal were not released.
The Daytona Beach, Fla.-based insurance broker said Emerald is a retail insurance agency generating approximately $3.8 million in annualized revenues.
The agency specializes in serving the employee benefits needs of companies and individuals throughout South Florida. The agency will be a new freestanding Brown & Brown profit center, with Salvatore Capano, vice president of Emerald Benefits, serving as profit center manager.
The acquisition follows Brown & Brown's announcement that it plans to acquire Hull & Company Inc., based in Ft. Lauderdale, Fla., a wholesale brokerage firm with approximately $63 million in annualized revenue.
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