Blog Exposure – Brown & Brown Acquires Health Special Risk

LONDON, UK / ACCESSWIRE / July 5, 2018 / If you want access to our free research report on Brown & Brown, Inc. (NYSE: BRO), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BRO as the Company’s latest news hit the wire. On July 02, 2018, the Company announced that it has acquired Health Special Risk, Inc. (“HSR”), which is one of the leading providers of TPA and MGU services for special risk and accident & health insurance. The financial details of the transaction remained undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Deal Details

Following the acquisition, the HSR team will continue to operate from their offices in Texas and Minnesota. Tom Lenihan, Principal of HSR, will remain as President of HSR, leading the new HSR profit center; and Phil Munson, the Executive Vice President, will continue to oversee the MGU operations of HSR. Lenihan will report to Drew Smith, serving as President of American Specialty, a wholly-owned subsidiary of Brown & Brown.

HSR Shares Complementary Market Focus with the American Specialty Team

Commenting on the acquisition, Drew Smith stated that Lenihan, Munson, and the HSR team have been a constant in the special risk and accident & health space for decades, providing top-of-class service for their clients and carrier partners. Smith added that the Company is excited about what they bring to its collective capabilities and the complementary market focus that they share with the American Specialty team.

Brown & Brown’s Recent Acquisition Deal

On June 19, 2018, the Company announced that Texas Security General Insurance Agency, LLC, which is a subsidiary of Brown & Brown, had acquired substantially all of the assets of Loving and Etheredge, Inc. d/b/a Texas Commercial Insurance Facilities (“TCIF”), and Arkansas Insurance Facilities, Inc. (“AIF”). The financial details of the transaction were not disclosed. Following the acquisition, the TCIF and AIF teams joined Brown & Brown’s Wholesale Brokerage Division as branch locations of Texas Security General Insurance Agency.

TCIF served as a managing general agent (MGA) for Texas retail insurance agents, placing commercial and personal surplus lines property and casualty business. AIF provided similar services for retail agents in Arkansas.

Brown & Brown’s Merger and Acquisition Strategy

Brown & Brown’s merger and acquisition strategy plays an integral part in the Company’s success and the success of its new partners. More than 250 agencies have joined Brown & Brown since 2000, in many cases due to relationships formed over the years. Brown & Brown invites agencies that have high-quality people with proven track records of customer service to join the Company’s team. Each agency also brings increased marketing opportunities, as well as improved relationships with insurance carriers that want to market services and products nationally.

About Health Special Risk, Inc. (HSR)

HSR is an insurance corporation which operates as a Managing General Underwriter (MGU) and Third Party Claims Administrator (TPA) in the Accident & Health and Special Risk insurance market in the United States. Incorporated in the state of Minnesota in 1979, HSR operates out of two offices, and has annual revenues of approximately $6.5 million.

About Brown & Brown, Inc.

Founded in 1939 and headquartered in Daytona Beach, Florida, Brown & Brown is an independent insurance intermediary that, through its licensed subsidiaries, provides a variety of insurance products and services to corporate, public entity, institutional, trade, professional, association, and individual clients. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services.

Stock Performance Snapshot

July 02, 2018 – At Monday’s closing bell, Brown & Brown’s stock was slightly up 0.69%, ending the trading session at $27.90.

Volume traded for the day: 442.37 thousand shares.

Stock performance in the last three-month – up 10.23%; previous six-month period – up 9.24%; past twelve-month period – up 28.22%; and year-to-date – up 8.43%

After last Monday’s close, Brown & Brown’s market cap was at $7.64 billion.

Price to Earnings (P/E) ratio was at 16.07.

The stock has a dividend yield of 1.08%.

The stock is part of the Financial sector, categorized under the Insurance Brokers industry.

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