Daytona Beach, Fla.-based insurance broker Brown & Brown announced two acquisitions, a reinsurance brokerage in Florida and an agency in Pennsylvania. Terms of the deals were not released.
In Florida, Brown & Brown acquired Stuart-based Evergreen Re Incorporated.
Evergreen Re places over $65 million in premium and provides consulting services for over $3 billion in pharmacy spending annually. The firm is a major health plan reinsurance broker with approximately $7.4 million in annualized revenues, B& B said.
It also provides health plans, physician groups and other managed health care organizations information as well as unique best-of-class solutions and services.
Evergreen's current management and staff, led by its President and Chief Executive Officer Charles Crispin, will continue to serve clients from their current headquarters in Stuart and other offices around the country as a stand-alone Brown & Brown subsidiary, the company said.
Brown & Brown also announced it has acquired Curzi Insurance Agency Inc., of Easton, Pa.
Curzi Insurance Agency is a retail insurance agency serving the general commercial property-casualty insurance needs of a wide range of clients throughout Pennsylvania and surrounding states.
A company spokesman said in an e-mail that the Curzi acquisition will bring two additional employees to Brown & Brown. He added that along with the 21 employees from Evergreen, Brown & Brown total employee count stands at 5,100.
(This story was updated on Dec. 19 at 9:21 a.m.)
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