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Brown & Brown Acquires Benefits Business

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An insurance distributor has bought the benefits brokerage assets of DiMartino Associates Inc.

Brown & Brown Inc., Daytona Beach, Fla. (NYSE:BRO), says it acquired the brokerage business and an insurance agency.

But DiMartino Associates, Seattle, still owns the DiMartino Financial Services division, and that business will continue to operate from its existing Seattle location, Brown & Brown says.

Gregory DiMartino founded DiMartino Associates in 1990.

The company now generates about $4.3 million in revenue. It serves Taft-Hartley union trusts and multiple employer welfare arrangements as well as single-employer benefit plan sponsors.

The firm has clients throughout the western United States.

Greg DiMartino and his employees will continue to operate from their existing Seattle office, Brown & Brown says.