Written by Jasir Jawaid
Despite recently announcing its biggest deal since the acquisition of the parent of Arrowhead General Insurance Agency Inc., Brown & Brown Inc. President and CEO J. Powell Brown said at an investor conference that his company is not out of the M&A game.
The acquisitive insurance brokerage recently inked an agreement to acquire insurance and risk management broker Beecher Carlson Holdings Inc. in a deal valued at $360.0 million.
During the conference's question-and-answer session, Brown was asked about the Beecher deal and how it positions Brown & Brown for future acquisitions. The CEO said the deal does not change the company's view of the M&A market in any way.
"If there were two more Arrowheads out there today, we'd go buy both of them. [I]f there were two more Beechers out there, we'd go buy two of them tomorrow," Brown said.
This article was published by S&P Global Market Intelligence on the S&P Capital IQ Pro platform.
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