Brown & Brown Inc. has acquired the assets of Agency Associates Inc.
Brown & Brown, Daytona Beach, Fla., is not saying how much it has paid for the operations of Agency Associates, Zionsville, Ind., but it says the agency and agency affiliates generate about $5.2 million in annual revenue.
The agency and affiliates sell financial planning services, individual health insurance and group benefits as well as property-casualty coverage.
Frederick McClaine, B. Michael Haffey and Ronald Smith, the principals of Agency Associates, will go to work for Brown & Brown and continue to do business from their current locations, Brown & Brown says.
Eventually, the Indianapolis office of Brown & Brown and Agency Associates’ Zionsville office will move into one office under the leadership of McClaine, Brown & Brown says.