Brown & Brown Inc., the Daytona Beach, Fla.-based broker, announced the completion of the previously announced acquisition of the general insurance operating companies of BdB Limited.
Financial details of the transaction were not disclosed.
Formed in 1993, BdB Limited is a specialist wholesale broker that provides access to specialty insurance products for insurance professionals in both the UK and the European markets.
The BdB Limited companies include BdB (UK) Limited, BdB Limited, BdB Europe SRL (in Brussels), Mithras Underwriting Limited, Mithras Underwriting Europe SRL and Mithras Underwriting Italia SRL. BdB said all its EU business is handled by BDB Europe SRL and its UK Branch.
BdB said it will operate from Belgium under the leadership of Sofie Temmerman. The company’s London leaders are: Silvestro de Besi, Pierluigi Pezone, Peter Goff, Matteo Giuliani, David Colville, Martin Lunn, Steve Toye and Matthew Kendall. Daniel Zaza will lead BdB in Italy.
BdB will report to Steve Boyd, president of Bridge Specialty Group, which Brown & Brown launched in February 2021 to manage its portfolio of more than 25 wholesale insurance businesses.
“We are very excited to welcome Silvestro and the talented team at BdB to Bridge Specialty Group. As a leading wholesale brokerage and MGA platform, BdB has earned a long-standing reputation as a best-in-class provider with their agency and carrier partners,” commented Boyd in a statement released by Brown & Brown when the BdB deal was initially announced in February 2022.
“We quickly recognized that they would be a great cultural fit within our organization. Collectively, we believe that we can continue to create differentiated products and service capabilities that meet the evolving needs of customers in the UK and mainland Europe,” he added.
Launched in 1939, Brown & Brown employs over 12,000 people in more than 300 locations across the U.S. and select global markets.
Source: Brown & Brown
Topics Mergers & Acquisitions Agencies
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