Brown & Brown (NYSE:BRO) of Daytona Beach and Tampa, Fla. has announced it has acquired the Ocala, Fla. Branch office of the Florida subsidiary of USI Holdings Corp. (NASDAQ:USIH).
The acquisition was jointly announced by C. Roy Bridges, Brown & Brown Inc. regional executive vice president and Robert S. Schneider, USI Holdings Corp. chief financial officer.
The Ocala branch office of USI Holdings Corporation, with annualized revenues of approximately $1.5 million, is a mid-market retail commercial property and casualty insurance agency operation. Michael Powell and the Ocala USI office staff will be combining with Brown & Brown’s existing Ocala operation, under the direction of Brown & Brown’s profit center manager D. Craig Curry. Mike Powell of USI will become the sales manager for the combined operation.
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third-party administration, and managed health care programs.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Beef Between Wholesale and Retail Agents Should Go to Trial, Court Finds 
Insurers Face Business Interruption Claims After Global Tech Outage 
‘Surface Waters’ on Roof Are Not ‘Flood’ Waters, Massachusetts High Court Rules 
Oscar Mayer Wienermobile Rolls Over in Chicago Highway Crash 
