J. Scott Penny, regional executive vice president of Brown & Brown, Inc., and James “Jim” Peabody, president of Smith-Peabody-Stiles Insurance Agency, Inc., with offices in Fenton and Brighton, Mich., today announced the asset acquisition of Smith-Peabody-Stiles Insurance Agency, Inc. by a subsidiary of Brown & Brown, Inc.
The Smith-Peabody-Stiles Insurance Agency, with annualized revenues of approximately $5 million, is one of the oldest insurance agencies in Michigan. Founded in Fenton, Mich. in 1919, the agency has been serving clients in the Tri-County area and throughout the Great Lakes State ever since. The company specializes in property and casualty, surety bonding, life, health and employee benefits. Jim Peabody, Jim Smith, Jeri Stiles and their staff will continue to serve their clients from their Michigan locations as freestanding Brown & Brown operations.
Brown & Brown, Inc. and its subsidiaries provide insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs.
Source: Brown & Brown, Inc.
Topics Mergers & Acquisitions Michigan
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