NU Online News Service, March 1, 3:19 p.m. EST
Insurance brokerage Brown & Brown Inc. said it has acquired the insurance agency and brokerage business-related assets of DiMartino Associates Inc. in Seattle. Financial terms were not released.
Daytona Beach, Fla.-based B&B said the sale of DiMartino Financial Services division was not part of this transaction and will continue to operate from its existing Seattle location.
DiMartino Associates, according to B&B, has annual revenues of approximately $4.3 million, and provides employee benefit solutions, including plan design and selection, marketing, employee and plan participant communications, and compliance support services to individual, business, association and governmental clients.
The agency, founded in 1990 with clients throughout Washington and the western United States, has developed particular expertise providing employee benefits products and consulting services to Taft-Hartley Act union trusts, Multiple Employer Welfare Arrangements, and other trusts and associations, said B&B.
Gregory P. DiMartino, president of DiMartino Associates, and his staff will continue to operate from their existing Seattle office.
J. Scott Penny, regional executive vice president of Brown & Brown, said in a statement that the merger would enable the firm to offer expanded employee benefits and property and casualty insurance solutions to the firm's clients.
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