Insurance broker Brown & Brown said it has acquired Nashville, Tenn.-based Security Insurance and Security Risk Managers Inc. Terms of the deal were not released.
The Daytona Beach, Fla.-based firm said Security Insurance and Security Risk Managers, with combined annualized revenues of approximately $4 million, have served their clients in Tennessee and throughout the United States for over 48 years.
Security Insurance was described as a retail insurance agency providing general commercial property and casualty insurance for clients throughout Tennessee.
Security Risk Managers is a wholesale brokerage specializing in builders' risk and construction-related products offered to retail agents throughout the United States.
Fred Viehmann, president of Security Insurance, and Dan Webb, president of Security Risk Managers, and their staffs will continue serving clients from their current location. C. Roy Bridges, regional executive vice president of Brown & Brown, will be responsible for oversight of these operations, the company said.
Mr. Bridges noted that the acquisition represents the firm's initial entry into the greater Nashville area.
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