Florida-based insurer Brown & Brown’s subsidiary Brown & Brown of Connecticut has completed the acquisition of certain assets of New York benefits adviser Kane Partners.
Terms of the transaction remained undisclosed.
As part of the transaction, Kane two shareholders Robert Fitzpatrick and Fred Leone along with their staff will join Brown & Brown of Connecticut’s offices in Rocky Hill.
Kane, which provides employee benefits-related services, including brokerage and consulting services, generates about $1.2m in annualised revenues.
Fitzpatrick said that the resources can be leveraged through this transaction will further enhance our ability to help our clients manage their health care costs in this tough economic climate.
Brown & Brown of Connecticut offers various insurance and reinsurance products and related services.