Brown & Brown, Inc. Announces the Acquisition of Massachusetts-based Agency
- November 15, 2018
Brown & Brown, Inc. Announces the Asset Acquisition of Rodman Insurance Agency, Inc.
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Andrew (“Andy”) S. Altman, Jeffrey (“Jeff”) R. Grosser, James (“Jim”) N. Rodman, James (“Jim”) D. Stoller, and Evan M. Tobasky, the shareholders of Rodman Insurance Agency, Inc., announced that Brown & Brown of Massachusetts, LLC has acquired substantially all of the assets of Rodman Insurance Agency.
With roots dating back to 1935, Rodman Insurance Agency specializes in providing property and casualty insurance products and services to commercial customers in the real estate, habitational, restaurant, and transportation industries. The firm has annual revenues of approximately $9.5 million and primarily supports customers in Massachusetts and throughout the Northeast. Following the acquisition, the Rodman Insurance Agency team will continue operating from its existing Needham, Massachusetts office under the leadership of Andy Altman.
Donald M. McGowan, a Regional President in Brown & Brown’s Retail Division, who will have oversight responsibility for the new Rodman Insurance Agency operations, stated, “Rodman Insurance Agency has built an exceptional reputation as one of the premier independent agencies in New England. We continue to be impressed with the strength and diversity of Rodman’s leadership and look forward to collaborating with their team to open new doors in the future.”
Andy Altman stated, “The Rodman team is thrilled to become a part of Brown & Brown. Being part of a larger organization will give our clients access to a broader array of resources while continuing to work with the same service team they know and trust.”