IMG specialises in offering a range of employee benefits and property and casualty insurance products and services
Image: Brown & Brown acquires South Carolina-based agency. Photo: Courtesy of Gerd Altmann/Pixabay
Florida-based insurance company Brown & Brown announced that its South Carolina division has acquired Columbia-based Insurance Management Group (IMG) for an undisclosed amount.
Mark Ackerman, the sole shareholder, has closed the sale of Insurance Management Group. Established in 1977, IMG specialises in offering a wide range of employee benefits and property and casualty insurance products and services to businesses and individuals across South Carolina.
Mark Ackerman said: “The foundation of a successful agency is providing clients with excellent service. This transaction allows our team to join an industry-leading team of professionals with superior knowledge and cutting-edge technology. Becoming part of the Brown & Brown team enhances our ability to serve our clients.”
IMG will operate as a branch of Brown & Brown’s South Carolina retail operations
With the deal now closed, the Insurance Management Group team will operate from their existing office as a branch location of Brown & Brown’s South Carolina retail operations. IMG team will report to Brown & Brown of South Carolina executive vice president Todd Tyler.
Brown & Brown retail segment regional president Mike Keeby has been given the oversight responsibility on the newly combined South Carolina retail operations.
Tyler said: “Mark and his highly talented team have evolved IMG into one of the top full-service, independent agencies in the area. We are excited to join forces to continue building our presence in South Carolina and look forward to the growth opportunities ahead.”
Earlier this month, Brown & Brown had agreed to acquire Special Risk Insurance Managers, a Canada-based managing general agent. The deal is expected to close effective from next January, subject to closing conditions.
Special Risk Insurance Managers was established in 1991. The acquisition of Special Risk is claimed to be of strategic importance for Brown & Brown in establishing its presence in Canada.
Special Risk will operate as part of Brown & Brown National Programs, under the leadership of Chris Walker.