Brown & Brown of Florida, a subsidiary of Brown & Brown, has entered into an agreement to acquire substantially all the assets of Florida-based Comcover Insurance Group.

Established in 2003, Comcover is a provider property and casualty and risk management products and services to business owners, with annualized revenues of $1.6m.

Comcover specializes in products and services tailored to clients in the wholesale, distribution, manufacturing, lumber and building materials, transportation, and commercial property ownership and development industries, among other industries.

Upon completion of the transaction, Comcover’s Anthony Johnson and his staff will join Brown & Brown of Florida’s existing Fort Lauderdale and Miami Lakes, Florida profit centers, under the leadership of Michael Keeby and Colin Lowe, respectively.

Brown & Brown of Florida regional president responsible for certain retail operations Tom Riley said Comcover is a recognized leader in meeting the unique insurance and risk management needs of clients in a wide spectrum of industries

The transaction is subject to the satisfaction of certain customary conditions and is expected to close in early January 2011.

Brown & Brown through its subsidiaries, offers a broad range of insurance and reinsurance products and related services.