Texas All Risk is engaged in placing a range of property and casualty insurance for businesses and individuals across Texas, Oklahoma, and Louisiana
Brown & Brown's subsidiary acquires assets of Texas All Risk. (Credit: Pixabay/Tumisu)
Brown & Brown said that its subsidiary Hull & Company has acquired almost all of the assets of US-based managing general agent (MGA) Texas All Risk for an undisclosed price.
Texas All Risk, which is a MGA for independent retail insurance agencies, is made up of All Risk General Agency, Select General Agency, TARGA Investment, TARGA Premium Finance, and Texas All Risk General Agency.
Established in 1983, the MGA is engaged in placing a range of property and casualty insurance for businesses and individuals across Texas, Oklahoma, and Louisiana.
Brown & Brown senior vice president Kathy Colangelo said: “Over the years, we have always been impressed by Kelly Davis and Texas All Risk as a competitor in the Texas marketplace.
“We are extremely excited about this transaction and look forward to the promising growth opportunities for the Wholesale Brokerage Segment to expand within Texas and further into Louisiana and Oklahoma.”
Kathy Colangelo has the oversight responsibility for some offices within Brown & Brown’s wholesale brokerage segment.
Texas All Risk to continue operations from Dallas
According to Brown & Brown, the MGA’s team will continue operating from its Dallas, Texas location as a new independent office within the wholesale brokerage unit and will be headed by Kelly Davis.
Kelly Davis said: “This transaction represents an exciting new chapter for Texas All Risk. We are extremely proud of all we’ve accomplished, but we believe the future of the wholesale insurance marketplace lies in the hands of a few major players.
“We can’t imagine better partners to help take our agency to the next level than Kathy, her team at Hull & Company, and the Brown & Brown family.”
Last week, Hull & Company acquired almost all the assets of Izzo Insurance Services, based in Bloomingdale, Illinois. Izzo Insurance Services is a wholesale brokerage that offers workers compensation insurance coverage options to retail broker partners.
Based in Florida, Hull & Company is an insurance wholesale organisation. Acquired by Brown & Brown in 2005, the wholesale MGA and broker offers a range of products from US and global insurance carriers.