Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. announced two acquisitions it said will provide more than $10 million in annual revenue. Financial terms for the two transactions were not released.
The larger of the two deals was announced today with the acquisition of Fullerton & Company Inc. of Portland, Ore.
Fullerton & Company Inc., B&B said, has annualized revenues of approximately $9.3 million and focuses on benefit plans and property and casualty insurance for individuals and businesses in Oregon and throughout the Northwestern United States.
Operations will continue at the firm's existing location in Portland, said B&B.
The second acquisition involved Toledo, Ohio-based Great Lakes Risk, which B&B said has annual revenues of approximately $1 million and provides group health, life, disability and other employee benefits insurance products and services for businesses and nonprofit organizations throughout Ohio, Michigan and the upper-Midwestern United States.
Benjamin A. Goff, president of Great Lakes Risk, and his staff will join B&B's existing Toledo office under the leadership of Michael Ross. Mr. Goff will lead the office's new employee benefits department.
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