Daytona Beach, Fla.-based insurance broker Brown & Brown said its subsidiary, Brown & Brown of Indiana, has acquired Mavum Consulting and Mavum Risk Management.
Financial terms of the acquisition were not released.
With annualized revenues of approximately $1.3 million, Mavum companies, headquartered in Indianapolis, provide insurance products and services to businesses and individuals throughout the greater Indianapolis metropolitan area.
Brown & Brown said Mavum companies employees will relocate to Brown & Brown of Indiana's existing Indianapolis office, under the leadership of Fred McClaine.
Rodney R. Reasen II, the founder and owner of the Mavum companies, will assist in the transition of the acquired operations to Brown & Brown.
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