The Colonial Group specializes in the areas of housing, recreational, and specialty insurance
Image: Brown & Brown acquires NC-based insurance agency. (Credit: Pixabay/Gerd Altmann.)
Brown & Brown, through its subsidiary Hull & Company, has acquired The Colonial Group, a Greensboro, North Carolina-based insurance intermediary for an undisclosed amount.
The Colonial Group is a managing general agency for independent retail insurance agents placing property and casualty insurance in the Southeast.
Founded in 1961, the Colonial Group’s affiliates include Affordable Home Services, Mobilhome Insurance Service, Colonial Premium Finance Company, offering specialist lines products for insurance agents and their clients.
The company’s lead products include mobile home, dwelling, recreational, farm and certain specialty commercial lines. It operates primarily across Southeastern United States to include North Carolina, South Carolina, Georgia, Tennessee and Virginia.
Brown & Brown wholesale brokerage segment senior vice president Kathy Colangelo said: “Bob, Jason, and their team have built an impressive organization that fits very well both geographically and culturally within Brown & Brown.
“We continue to be impressed with their highly skilled and talented teammates and are excited about the growth opportunities ahead.”
The Colonial Group team will continue to operate from its Greensboro location
Following the completion of the deal, The Colonial Group team will continue to operate from its Greensboro location as a standalone company within Brown & Brown’s Wholesale Brokerage Segment under the leadership of Jason Haupt.
The Colonial Group President and chief operating officer Jason Haupt said: “All of us here at The Colonial Group are so proud of what we have been able to accomplish together. We are extremely excited about our new chapter with Brown & Brown.
“As a specialty wholesaler, this new partnership offers us a wonderful opportunity to access resources and expand our carrier relationships, and to position our team for new opportunities.”
Recently, Brown & Brown had acquired LP Insurance Services (Loan Protector), an Ohio-based firm serving the mortgage servicing industry with lender-placed insurance and insurance tracking services.
The company was formerly a unit of Willis Towers Watson and LP Insurance Services acquired it in January 2018.