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Brown & Brown Acquires Benefits Businesses

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An insurance distributor has bought the benefits brokerage assets of Martin Benefits Consulting L.L.C. and the human resources consulting firm assets of Martin Human Resources L.L.C.

Brown & Brown Inc., Daytona Beach, Fla. (NYSE:BRO), says it made the acquisitions through its Brown & Brown of New York Inc., subsidiary.

Martin Benefits, New York, and Martin Human Resources, New York, have been generating about $3 million in annual revenue by serving clients in the New York area.

Scott Martin, the principal at the firms, and other employees will stay in the current Martin offices and operate the combined businesses as a free-standing profit center, Brown & Brown says.

- Allison Bell