NU Online News Service, Nov. 4, 2003, 5:38 p.m. EST – Brown & Brown Inc., Daytona Beach, Fla., a publicly traded insurance broker, is still buying insurance agencies.
Brown & Brown recently announced the acquisition of three related agencies, Benefit Resource Inc., Benefit Resource of Indiana Inc. and Business Benefits Group Inc., with offices in Owensboro, Ky., and Newburgh, Ind.
The three agencies, which specialize in selling employee benefits, have combined annual revenues of about $2.5 million, Brown & Brown says.
The acquisition gives Brown & Brown its first operation in Kentucky, says J. Scott Penny, a regional executive vice president at Brown & Brown.
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Eric Anderson, who had been chairman of the three agencies, will continue to head them, but he now will run them as Brown & Brown offices.