Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired Florida-based T.R. Jones & Co., a subsidiary of Beecher Carlson Holdings Inc. Financial terms of the transaction were not released.
With total annual revenues of approximately $6.7 million, T.R. Jones & Co. has provided commercial and personal lines property as well as casualty and employee benefits products and services to individuals, businesses and organizations throughout Florida for more than 50 years.
Thomas R. “Tom” Jones, Alan Lund, principals of T.R. Jones, and their staff will join Brown & Brown and continue to serve their clients from their Homestead, Key Largo and Ocean Reef, Fla. offices.
The agency’s Winter Park, Fla., operations, doing business as Kraft Insurance Agency, will combine with Brown & Brown of Florida’s existing Maitland, Fla., office under the leadership of John Berner.
In a separate statement, Atlanta-based Beecher Carlson said the firm was a great partner, but it no longer fit in with it’s business strategy.
“As we have increased our commitment to industry specialization, it became clear that there was no longer significant alignment between T.R. Jones and Kraft and the going forward strategic vision of Beecher Carlson,” said Bret D. Quigley, executive vice president and chief financial officer for Beecher Carlson.