Brown & Brown Agrees to Buy Dutch Insurance Broker, Quintes Holding B.V.

Brown & Brown Inc. announced it has entered into an agreement to acquire Quintes Holding B.V., a Netherlands-based insurance group.

Brown & Brown acquired Quintes from the private investment firm Aquiline Capital Partners (which purchased a majority stake in Quintes in July 2020) and the company’s management ownership team.

Expected to close in the fourth quarter of 2024, the deal is subject to certain closing conditions and regulatory approval. Financial details of the transaction were not disclosed.

Quintes was founded in 2012 by Gijsbert van de Nieuwegiessen and is one of the largest independent insurance brokers in the Netherlands. Quintes serves approximately 200,000 customers across its three main divisions: broking, MGA and pension business. Headquartered in Waardenburg, Netherlands, Quintes is composed of approximately 700 insurance professionals operating across 18 locations in the Netherlands.

Quintes will continue to be led by Gijsbert van de Nieuwegiessen, chief executive officer and founder. Following the completion of the transaction, van de Nieuwegiessen will report to Mike Bruce, chief executive officer of Brown & Brown (Europe) Ltd., who also serves as a member of the Brown & Brown Inc. senior leadership team.

Quintes’ position as an industry leader in the Dutch market will further expand Brown & Brown’s international footprint and broaden its global capabilities, Bruce said.

Barrett Brown, executive vice president and president of the Brown & Brown Retail segment, said: “We are very excited to have Gijsbert, Quintes leadership and their talented teammates join Brown & Brown. Their hub structure is closely aligned with our decentralized sales and service business model, and the breadth of their specializations will complement our existing capabilities and drive our continued growth.”

“After four successful years of strategic partnership with Aquiline, we have found a forever home in Brown & Brown. Quintes and Brown & Brown are like-minded organizations that share a common culture, values and purpose,” commented van de Nieuwegiessen.

“For our customers, this move will bring access to additional capabilities, services and solutions, as well as the market strength of a global network. For our Quintes teammates, it will bring opportunities to grow professionally and personally. All of us at Quintes look forward to becoming teammates of an industry-leading and customer-focused group of professionals,” he added.

Source: Brown & Brown and Aquiline Capital Partners

Topics Mergers & Acquisitions Agencies