The latest acquisition news from Brown & Brown for you;
Brown & Brown (Europe) Ltd, part of Brown & Brown Inc. (“Brown & Brown”), has acquired 100% of the share capital of Premier Commercial Ltd (“PremCo”), an Edinburgh based MGA and Lloyd’s Coverholder.
PremCo specialises in niche construction sector property and complex liability programmes.
PremCo was established in 1995 by Crawford and Joyce Boyd. Crawford will continue to lead the business reporting to Barry Driscoll, Chief Trading Officer of Brown & Brown Europe’s MGA division.
The acquisition underscores the MGA division’s continuing interest in acquiring niche MGAs, as businesses like PremCo, which require long-term vision and commitment, are a key part of Brown & Brown’s ‘forever’ company ethos.
Clive Nathan, CEO, Underwriting, Brown & Brown Europe commented: “PremCo meets all the key criteria we look for in an MGA. A strong cultural fit, niche products, excellent underwriting performance and attractive organic growth prospects. The business will be complementary to Camberford Underwriting, which is also in the MGA division, adding construction specialisation and strengthening our offering to brokers and their customers.
“This transaction is a perfect fit for us as we have known and worked with Crawford for many years. The team have a great combination of youth and experience and as part of our MGA division, the opportunity to drive further shared success. We are excited to work with Crawford and all our new teammates.”
Crawford Boyd, Director, Premier Commercial, said: “Joining Brown & Brown marks the next step in our journey, and joining this global organisation will provide the long-term support and resources needed to take our business to the next level. Having worked with the Brown & Brown team for many years, this was the perfect opportunity and fit, and I look forward to working closely with Barry, Clive, and the wider team.”
The deal has received regulatory approval, and the consideration is undisclosed.
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