NU Online News Service, May 14, 11:05 a.m. EDT
Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired four insurance agencies in Connecticut. Financial terms of the acquisition were not released.
The firm said it has acquired the agencies under the umbrella company D.C.S.R. Inc.. The agencies offer a wide spectrum of personal and commercial insurance products and services and have deep roots in Connecticut.
Principals of D.C.S.R. are Donald R. Rittman Jr. and Bernard F. Halligan.
The agencies are:
o Stone Insurance Agencies, and The Gardner-Kirby Corp. Gardner-Kirby began business in 1924. Stone Insurance Agencies was founded by Joseph R. Stone in 1947. Both are based in Meriden, Conn.
o H.E.B., Inc., doing business as McCutcheon Burr & Sons. McCutcheon Burr & Sons, located in Middletown, Conn., was founded in 1922 by Ernest McCutcheon. Colin E. Burr and Harry E. Burr are the principals.
o Hedden Agency, Inc., doing business as Hedden Insurance. Located in Waterford, Conn., the agency began business in 1945 and is headed by Jeff Hedden, a third-generation member of the Hedden family in the agency.
The acquired operations, which generate approximately $7.2 million in combined annual revenues, will come under the leadership of Donald McGowan, executive vice president of Brown & Brown of Connecticut, Inc.
The selling entities' operations in Bridgeport, Jewett City and Marlborough, Conn., and their specialty programs–for transportation and drag racing industry participants–were not part of the transaction, the firm said.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.