Brown & Brown Inc. has made a significant move in the insurance industry with its recent announcement of acquiring Accession Risk Management, the parent company of Risk Strategies and One80 Intermediaries, for approximately $9.8 billion. This acquisition marks a strategic expansion for the Daytona Beach-based company, solidifying its position in the specialty brokerage and insurance wholesaling sectors.
Accession Risk Management, established in 1997, has grown to become one of the largest privately held insurance firms in the industry. With Risk Strategies specializing in brokerage services and One80 Intermediaries offering insurance wholesaling and program management, the acquisition of their parent company by Brown & Brown is expected to enhance the company’s offerings and market presence significantly.
The deal, which involves the purchase of RSC Topco Inc., the holding company of Accession, demonstrates Brown & Brown’s commitment to growth and innovation in the insurance sector. By integrating the expertise and resources of Risk Strategies and One80 Intermediaries into its operations, Brown & Brown aims to provide a broader range of solutions to clients and strengthen its competitive edge in the market.
Industry experts have noted that this acquisition could have far-reaching implications for the insurance landscape, potentially reshaping the dynamics of the sector and influencing future M&A activities. As Brown & Brown continues to expand its footprint and capabilities through strategic acquisitions, the company is poised to navigate the evolving insurance market landscape effectively.
Overall, Brown & Brown’s acquisition of Risk Strategies and One80 parent company Accession Risk Management for nearly $10 billion underscores the company’s strategic vision and commitment to driving growth and innovation in the insurance industry.
References:
– “Brown & Brown to Acquire Risk Strategies, One80 Parent for $9.8 Billion” – Insurance Journal
– “Brown & Brown to acquire Risk Strategies & One80 parent, Accession” – ReinsuranceNe.ws
– “Brown & Brown to Acquire Risk Strategies, One80 Parent for Nearly $10B” – Carrier Management
