A subsidiary of Florida-based Brown & Brown Inc. has acquired the assets of Powers & Co.
Powers & Company is an insurance agency serving clients in California, Nevada and Arizona, with annualized revenues of approximately $11.2 million. Richard R. “Rich” Powers, president of Powers & Effler Insurance Brokers Inc., d/b/a Powers & Company. Insurance Agents and Brokers, of Rocklin, Calif., and his staff will continue to operate out of their existing office as a new stand-alone Brown & Brown profit center.
Michael Paschke, regional executive vice president of Brown & Brown Inc., stated, “We are pleased to welcome Rich and his staff to our growing presence in California. This represents Brown & Brown’s first retail operation in the greater Sacramento area. However, Rich’s team will provide us with expanded resources and service capabilities for our clients throughout California and the West.”
Brown & Brown Inc. and its subsidiaries offer a range of insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs.
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