Deals: Brown & Brown Still Hungry For More

 Here is the latest acquisition from Brown & Brown, who have completed several deals in the last 2 years or so. AI and automated tech make it an interesting time for regional or specialty brokers, as the opportunity is there to deploy products across bespoke platforms for several brands.

Are Brown & Brown still hungry for more? Could be, here’s the word;

Brown & Brown (Europe) Ltd, part of Brown & Brown, Inc. (“Brown & Brown”), have acquired Alan R MacKay & Company Limited, trading as MacKay Corporate Insurance Brokers (“MacKay Corporate”).

The transaction marks Brown & Brown’s first retail acquisition in Scotland, with MacKay Corporate operating from offices in Glasgow, Ayr and Aberdeen. The business will become Brown & Brown’s Retail Hub business in Scotland, reporting to Neil Thornton, Divisional Managing Director – North.

MacKay Corporate was founded in 1989 by Alan MacKay and his son, David, who joined the family firm in 1996 and succeeded his father in 2011, leading the business with fellow directors Iain Henry and Karen Fitzgerald.  All directors and staff will continue with the business in existing locations.

The broker, which received Chartered Status in 2010, provides a comprehensive range of commercial insurance products across sectors, including construction, property, professional services, charities, early years, and oil and gas. It also offers personal insurance, including household, private car and high-net-worth cover.

Carolyn Callan, Chief Executive Officer, Brown & Brown Retail, said: “We’re delighted to welcome MacKay Corporate into the Brown & Brown team and look forward to working closely with them as the team embarks on the next stage of their journey.

“Our first acquisition in Scotland is an exciting milestone for us and creates an opportunity to expand our presence significantly across the country in the future. I am looking forward to working in partnership with David, Iain, Karen and the team on their exciting growth strategy.”

David MacKay, Managing Director, MacKay Corporate, said: “Joining Brown & Brown is an exciting new chapter for our business, our colleagues and our customers, and Iain, Karen and I look forward to continuing to grow MacKay Corporate whilst retaining the local connectivity, knowledge and specialisation that our customers value.”

The transaction has received regulatory approval, and the consideration is undisclosed.