Brown & Brown, through its New York-based subsidiary, has acquired certain assets of Gaston & Associates, as part of its strategy to strengthen footprint in the region.
Gaston & Associates delivers property and casualty and employee benefits insurance products and services to clients in New York and across the Northeast.
Leveraging its InsureHedge division, the acquired entity has been specializing in the private fund space since 1992.
Under the terms of the transaction, Fred Gaston and his team will operate from Brown & Brown of New York’s existing Rye Brook, New York location under the leadership of Markham Rollins, III.
Rollins said: "Gaston & Associates has lengthy and remarkable history of serving its business clients in New York and beyond.
"Over the years, the agency has built an impressive reputation as a result of its highly personalized approach to meeting its clients’ risk management needs. We are honored that Fred and his staff have chosen to become a part of our organization."
Fred Gaston commented: "I’m confident that having the resources of Brown & Brown behind us will strengthen our relationships and presence in the marketplace, allowing for enhanced customer service, additional product offerings, and robust growth."
Earlier in May, Brown & Brown completed a number of takeovers including acquisition of Agency Management Corporation (AMC) and Recreation Protection Management (RPI), as well as Axia Strategies.
During the same month, the company completed the acquisition of substantially all of the operating assets of Pacific Resources Benefits Advisors (PacRes).
Through its subsidiaries, Brown & Brown delivers a range of insurance and reinsurance products and related services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association and individual clients.
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Image: Brown & Brown acquires AMC and RPI, PacRes. Photo: courtesy of adamr/ FreeDigitalPhotos.net.