Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired the Subway restaurant franchisee insurance accounts from Franchise Insurance Agency Inc. of Columbus, Ohio. Terms of the deal were not released.
A Brown & Brown spokesman said the book covers only Subway's domestic business. He could not say how much the deal was worth, but said as a general rule the firm does not disclose the value of a deal under a $1 million. This is the second book of business Brown & Brown has purchased from Franchise Insurance.
According to Subway's Web site, the 43-year-old company has 28,898 franchises in 86 countries employing approximately 150,000 individuals. The Milford, Conn.-based company employs more than 600 people.
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