Brown & Brown
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Retail organic growth picked up to 8.3%, while consolidated Ebitdac margins expanded by almost 300bps, to 35.6%. -
The Daytona Beach-based broker expands its retail segment with the purchase of the pharmacy consulting service.
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The Daytona Beach-based broker is to bring its retail segment under one brand name.
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Howden is on the cusp of sealing its third major acquisition in 12 months, and its biggest to date.
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The UK consolidator had been expected to be auctioned, but that process now looks set to be pre-empted.
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Daytona Beach-based Brown & Brown buys benefits firm Agis Network and New Jersey wholesale broker Gremesco.
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The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.
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Boston-based Brown & Brown continues M&A expansion with purchase of Western Massachusetts agency.
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O’Reggio will be senior adviser to clients across lines including D&O, cyber and professional, employment practices, fiduciary liability coverages, crime and fidelity.
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Following the acquisition, Bob Sudler, Sudler Insurance’s sole shareholder, will operate from Brown & Brown’s office in Ft Lauderdale.
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The 20-year record organic growth for the quarter is unlikely to be sustainable.
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The Brown & Brown CEO also called the company’s second quarter results the “best” in its history.
