NU Online News Service, July 11, 6:33 p.m. – Brown & Brown Inc., Daytona Beach, Fla., a large insurance and benefits broker, has acquired two sister companies, Abrahms Group Benefits Inc. and Abrahms Life Services Inc., both of Newington, Conn.
Abrahms Group sells employee benefits, and Abrahms Life sells life insurance and related products.
The value of the deals was not disclosed, but Brown & Brown says the two firms generate a total of about $4.5 million a year in revenue.
Marc Abrahms, president of the two Abrahms agencies, and other Abrahms executives will join Brown & Brown and keep their current offices in Newington, Brown & Brown says.
Marc Abrahms will become chairman of a new Brown & Brown unit, Brown & Brown of Connecticut Inc. and a member of the parent company’s executive committee.