WASHINGTON (dpa-AFX) - J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (BRO), an insurance brokerage firm, and John Mina, chief executive officer of Accession Risk Management Group, Inc., Tuesday said that Brown & Brown has agreed to acquire RSC Topco, Inc., the holding company for Accession, for $9.825 billion.
The transaction is expected to add to Brown & Brown's 2024 adjusted earnings per share.
Accession, a privately held insurance brokerage, recorded adjusted revenue of about $1.7 billion in 2024.
Upon closing the deal, the Risk Strategies team will become part of Brown & Brown's Retail division, and John Mina will join the retail senior leadership team.
'Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organizations to the forefront, enabling us to augment and strengthen our collective growth. The brokerage business built by Mike Christian and John Mina and the wholesaler and program manager business built by Matthew F. Power bring complementary and added capabilities that, when aligned with the broader Brown & Brown organization, further position us to extend our reach and consistently deliver for our customers through enhanced market relationships and expanded offerings,' said J. Powell Brown, president and chief executive officer of Brown & Brown.
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