Brown & Brown, Inc. Announces the Asset Acquisition of VGW Insurance
DAYTONA BEACH, FL — J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Charles R. Glendenning, Glen R. VerHagen, and Rick K. Walker, the principals of VerHagen Glendenning & Walker LLP; Glendenning Insurance Agency, Inc.; Walker Insurance; Glen R VerHagen Insurance Services; and VerHagen Insurance (collectively, VGW Insurance), announced that Brown & Brown Lone Star Insurance Services, Inc. has acquired substantially all of the assets of VGW Insurance.
Since the early 1990s, VGW Insurance has provided property and casualty insurance products and services to individuals and businesses throughout Texas. Following the transaction, the VGW team will operate as a new stand-alone office within Brown & Brown’s Retail Segment and will continue doing business under the leadership of Rick Walker from their existing locations in Plano, Texas; Rockwall, Texas; Sherman, Texas; and Van Alstyne, Texas.
Tommy K. Huval, a Regional President who oversees Brown & Brown’s existing retail offices in Austin, Houston, and San Antonio, Texas, stated, “Since inception, VGW Insurance has established itself as one of Texas’s leading personal lines property and casualty insurance agencies. The firm’s approach to providing outstanding customer service really differentiates the organization from its peers, and we are excited about the growth opportunities ahead.”
Rick Walker stated, “Becoming a part of Brown & Brown provides an outstanding opportunity for VGW insurance. Joining a forward-thinking organization that encourages an entrepreneurial culture and that sets an industry-leading standard for innovation, customer service, and carrier relationships places us in an exceptional position for future growth and success.”