Brown & Brown, Inc. Announces the Asset Acquisition of Three Brokerages
- August 12, 2019
Brown & Brown, Inc. Announces the Asset Acquisition of WBR Insurance Agency, LLC; Wilson Insurance Agency, Inc.; Bell Insurance Agency Corporation; and Robertson Insurance Agency, Co.
DAYTONA BEACH, FL -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Alex H. Bell, II; Clarence (“Clay”) D. Robertson, Jr.; and John W. Wilson, Jr., the principals of WBR Insurance Agency, LLC, announced that Brown & Brown Insurance Agency of Virginia, Inc. has acquired substantially all of the assets of WBR Insurance Agency, LLC; Wilson Insurance Agency, Inc.; Bell Insurance Agency Corporation; and Robertson Insurance Agency, Co. (collectively, “WBR Insurance”).
With roots dating back to 1982, WBR Insurance recently became an independent insurance broker after operating for most of its history as part of Nationwide Mutual Insurance Company’s exclusive distribution model. Headquartered in Virginia Beach, Virginia, the firm offers a wide variety of property and casualty insurance products to businesses and individuals in Virginia and other states along the East Coast. Following the acquisition, the WBR Insurance team will operate from their existing office as a branch location of Brown & Brown’s Norfolk, Virginia operations under the leadership of Bill Strachan and David McIlravy, who currently serve as President and Executive Vice President of Brown & Brown Insurance Agency of Virginia, respectively.
Mike Keeby, a Regional President in Brown & Brown’s Retail Segment who oversees certain operations in Virginia, stated, “Alex, Clay, and John have leveraged their impressive experience and expertise to build one of the premier insurance agencies in Virginia Beach. They have had great success as an exclusive Nationwide agency over the years, and we are excited to take this next step together and welcome them to the Brown & Brown team.”
Alex Bell commented, “When Nationwide decided to change its distribution model from an exclusive to independent agency platform, we set out to find a larger independent partner that could serve the needs of our customers and employee team members. Brown & Brown shares the same values and commitment to customer service that have served us well since we formed our agency. We are so excited to become part of the Brown & Brown team and to continue meeting and exceeding our customers’ expectations.”