Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired Nathan Stone Insurance Agency Inc. of Encino, Calif. Terms of the deal were not released.
Nathan Stone Insurance, which also does business under the name Stone, Harris & Stone, with annualized revenues of approximately $3 million, is a retail insurance agency serving businesses and individual clients throughout California.
Victoria Stone Hartvig, the principal, and her staff will continue to operate from their existing Encino location as a freestanding Brown & Brown of California office.
The firm also announced yesterday that it has declared a quarterly cash dividend of 7-cents a share payable on May 28 to shareholders of record as of May 14.
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