Brown & Brown Inc., said it has acquired Nichols & Associates Inc., of Philadelphia.
Terms of the deal were not released.
The Daytona Beach, Fla.-based insurance broker said Nichols & Associates is a retail insurance agency specializing in placing coverage for large health care institutions and physician groups, including medical malpractice coverage. The agency generates approximately $1.2 million annually, the firm said.
Nichols & Associates will operate from its current location as a new freestanding Brown & Brown profit center.
© 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.