US-based insurance coverage dealer Brown & Brown, by way of its subsidiary, has acquired all of the property of Pacific Underwriters.
The monetary phrases of the transaction weren’t disclosed.
Based in 1941, Pacific Underwriters manages public utility insurance coverage threat swimming pools within the state of Washington.
It is usually engaged in providing insurance coverage options for dental specialists within the Pacific Northwest.
Beneath the settlement, the Pacific Underwriters group will keep on working out of its present location in Seattle, Washington, following the takeover.
The acquired firm will change into a part of Brown & Brown’s nationwide programmes section.
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Brown & Brown nationwide programmes section chief working officer Tom Kussurelis mentioned: “This transaction is a novel alternative for us to spice up our capabilities in two completely different specialised niches.
“We’re happy to proceed increasing the Nationwide Applications section’s skills and footprint within the Pacific Northwest and stay up for an thrilling way forward for shared success with the proficient Pacific Underwriters group.”
Pacific Underwriters president Richard Rodruck added: “For almost 4 a long time, Pacific Underwriters has served public utility threat swimming pools as a programme supervisor within the State of Washington. We now have additionally loved a long-standing relationship with Brown & Brown in providing insurance coverage options to dentists and dental places of work.
“We’re excited in regards to the cultural and operational similarities between our organisations and stay up for persevering with to offer the identical high-quality, customer-focused service as a part of the Brown & Brown group.”
Earlier this week, Brown & Brown, by way of ABL Group, acquired Davison & Associates (NI) and Davison Lamont, bolstering its presence in Northern Eire.
Davison & Associates is an insurance coverage claims administration firm and Davison Lamont operates as an insurance coverage consultancy.
Final week, the insurance coverage middleman concluded the takeover of UK-based insurance coverage firm Kentro Capital.