Brown & Brown, Inc. Expands in the Mid-Atlantic Region with Acquisition
- March 05, 2018
Brown & Brown, Inc. Announces the Asset Acquisition of Kerxton Insurance Agency, Inc. and Fitness Underwriters, Inc.
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., and Jeff and Brad Kerxton, the shareholders of Kerxton Insurance, announced that Brown & Brown Insurance Agency of Virginia, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Kerxton Insurance Agency, Inc. and Fitness Underwriters, Inc. (collectively, “Kerxton Insurance”).
With roots dating back to 1964, Kerxton Insurance has annual revenues of approximately $5.0 million. The firm provides a wide variety of personal and business insurance products and services to clients in the Mid-Atlantic Region and throughout the United States, including insurance solutions for health and fitness clubs under the Fitness Underwriters brand. Following the acquisition, Kerxton Insurance will re-locate to Brown & Brown’s existing Manassas, Virginia office and will operate under the leadership of Bill Strachan.
Mr. Strachan, President of Brown & Brown Insurance Agency of Virginia, Inc., stated, “I have known Jeff and Brad for over 20 years and am excited to work with them and their talented team. We are thrilled to combine our operations together and look forward to our continued growth in the DC Metro marketplace and beyond.”
Jeff Kerxton stated, “We are very excited about joining the Brown & Brown team. Our values, team members, and resources align extremely well. Both teams have a commitment to excellence that is second to none, and I am very confident, together, we will continue to grow within the markets and industries we serve.”