Brown & Brown, Inc. Announces the Asset Acquisition of Florida-based Brokerage
- June 06, 2019
Brown & Brown, Inc. Announces the Asset Acquisition of Twinbrook Insurance Brokerage, Inc. and Twinbrook Insurance Agency, Inc.
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Joseph (“Joe”) P. Rizzo, the sole shareholder of Twinbrook Insurance Brokerage, Inc. and Twinbrook Insurance Agency, Inc. (collectively, Twinbrook Insurance), announced that Brown & Brown of Massachusetts, LLC has acquired substantially all of the assets of Twinbrook Insurance.
Founded in 1960, Twinbrook Insurance provides property and casualty insurance products and services to customers throughout New England and Florida. The firm specializes in providing customized insurance solutions to businesses and individuals, with a large concentration in the hospitality and aviation industries. Following the transaction, the Twinbrook Insurance team will operate as a new stand-alone office within Brown & Brown’s Retail Segment and will continue doing business under the leadership of Joe Rizzo from their existing locations in Braintree, Massachusetts; Holbrook, Massachusetts; Hyannis, Massachusetts; and Kingston, Massachusetts. Brown & Brown’s new Twinbrook office will also maintain a presence in Broward County, Florida to facilitate the same high level of service offered to Twinbrook’s Florida-based customers.
Donald M. McGowan, a Senior Vice President who oversees several of Brown & Brown’s retail offices in the Northeast, stated, “Twinbrook Insurance is one of the premier independent agencies in New England and fits well—both operationally and culturally—with our other Brown & Brown offices in Massachusetts and beyond. We are excited about the growth opportunities we believe will result from the transaction and are pleased to welcome Joe and his team to Brown & Brown.”
Joe Rizzo stated, “The Twinbrook team is very excited to become a part of the Brown & Brown organization. Joining one of the largest insurance brokerage firms in the United States is a true honor.”