Insurance broker Brown & Brown said it has acquired Purchase, N.Y.-based Professional Risk Managers Inc. and PRM Group, LLC, collectively the PRM Group. Terms of the deal were not released.
The Daytona Beach, Fla.-based broker said PRM Group has reported annualized revenues of approximately $4.5 million. The firm is primarily engaged in the property-casualty, surety and group benefits insurance agency business in the New York City metropolitan area.
Brown & Brown said PRM Group will continue operating out of its current location in Purchase.
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