Brown & Brown Metro, a subsidiary of Brown & Brown, has acquired substantially all the assets of Excel Underwriters Alliance and Spirit Underwriters of Voorhees, New Jersey.
On completion of the acquisition, the David Wash, president of Excel, and his staff will continue to operate under Excel and Spirit Underwriters brands, as divisions of Brown & Brown’s Mount Laurel, New Jersey profit center, under the leadership of Joseph Morrissey.
Excel Underwriters Alliance provides open brokerage insurance solutions, while Spirit Underwriters is a managing general underwriter (MGU) offering products and services on both a direct and brokerage basis. These firms also offer Excel Direct, a direct access insurance product for specialty agents and brokers with under $1m in revenues.
Thomas Riley, regional president of Brown & Brown Metro, said: “David and his group have developed a strong expertise in the often complex world of casualty insurance. We are excited to have them deepen our knowledge base in this arena. This transaction also demonstrates our desire to grow our presence in New Jersey and the greater Philadelphia region.”