Atlanta headquartered Brown & Brown has moved to acquire insurance and risk management broker, Beecher Carlson in a cash move.
Beecher Carlson, which is active player in the captive space managing over 100 captives across 10 jurisdictions worldwide, will continue to operate its large account division under its existing name. Middle-market business will trade under the Brown & Brown name.
Brown & Brown is the sixth largest insurance intermediary in the US, according to Business Insurance. Beecher Carlson is the 27th.
Commenting on the transaction, Powell Brown CEO and president of Brown & Brown said: "This transaction brings many exciting opportunities to Brown & Brown. Beecher Carlson enjoys an enviable position in the industry segments in which it operates, especially in the large account space. We are bringing together great people and a shared customer service and sales culture. The addition of Beecher Carlson to the Brown & Brown team offers us an expanded footprint, new opportunities, enhanced resources and a strong leadership team to facilitate a seamless transition into Brown & Brown."
Brown & Brown, Beecher Carlson, acquisition, captive insurance, US, insurance