Brown & Brown, Inc. Announces the Asset Acquisition of Wholesale Brokerage
- January 28, 2019
Brown & Brown, Inc. Announces the Asset Acquisition of Izzo Insurance Services, Inc.
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., and Karen J. Izzo, the sole shareholder of Izzo Insurance Services, Inc., announced that Hull & Company, LLC, a subsidiary of Brown & Brown, Inc., has acquired substantially all the assets of Izzo Insurance Services.
Founded in 1980 by Karen Izzo, Izzo Insurance Services is a wholesale brokerage that specializes in providing workers compensation insurance coverage options to its retail broker partners. The firm has annual revenues of approximately $2,000,000. Following the acquisition, Izzo Insurance Services will continue doing business from its existing Bloomingdale, Illinois location under the leadership of Karen Izzo. The office will operate as a new stand-alone location in Brown & Brown’s Wholesale Brokerage Division under the leadership of Tony Strianese, President of Brown & Brown’s Wholesale Brokerage Division.
Kathy Colangelo, a Senior Vice President of Brown & Brown, who will have oversight responsibility for the new Izzo Insurance Services office, stated, “Karen and her team are recognized leaders in providing workers compensation insurance solutions. Their expertise and customer-focused approach has enabled them to build long-standing relationships with their carrier and retail agent partners. We are excited to watch the Izzo Insurance Services team succeed and continue to grow as part of the Brown & Brown organization.”
Karen Izzo stated, “We are proud to partner with Hull & Company, an organization that values our expertise, culture and commitment to our markets. I am confident our nationwide workers compensation program for most industry classes, in addition to our exclusive security guard specialty program will continue to thrive under this platform. The Izzo team looks forward to a very successful partnership while continuing to provide exceptional service to our valued agents.”