Florida-based insurance firm Brown & Brown has announced its intention to buy the commercial property and casualty insurer Alliance Insurance Services for an undisclosed sum.
Alliance Insurance Services is a 20-year-old commercial property and casualty insurance agency with annualized revenues of almost $1.2 million. Following the deal, the California-based company will continue to serve its clients as stand-alone operation.
Commenting on the deal Kenneth D. Kirk, regional executive vice president of Brown & Brown, said, we are very pleased to have Bill [White, president of AAI, Allied Insurance Services] and his team join our rapidly expanding Western Region. We look forward to their input and expertise as we continue to grow throughout the Golden State.
Ranked as seventh largest independent insurance intermediary in the US, Brown & Brown and its subsidiaries offer a range of insurance and reinsurance products and services, as well as risk management, third-party administration and managed health care programs. The firm serves business, public entity, individual, trade and professional association clients nationwide.
The full terms of the deal have yet to be disclosed.