American insurance broker Brown & Brown has acquired Corporate Insurance Advisors through its subsidiary Brown & Brown of Florida.
Founded by Mark Schwartz in 2005, the acquired firm is a full-service retail insurance agency catering to businesses and individuals throughout Florida.
Under the terms of the agreement, Corporate Insurance Advisors will operate under the leadership of Mike Gorham from Brown & Brown’s retail office in Ft. Lauderdale, Florida.
Brown & Brown retail segment regional president Mike Keeby said: “Mark Schwartz and his team have leveraged their experience, work ethic, and strong relationships to offer innovative insurance solutions that stand out in the competitive South Florida marketplace.”
Schwartz said: “Brown & Brown’s capabilities in terms of scope of offerings, deeper bench strength and enhanced geographic footprint are a perfect complement for our customers in light of the ever-changing business world regarding risk and variable assumptions of risk. We believe joining Brown & Brown will enable us to provide even better results.”
Concurrently, Brown & Brown’s dealer services (BBDS) subsidiary bought all assets of Dealer Admin. Services (DAS).
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The acquired firm offers aftermarket F&I products and solutions for franchise and pre-owned dealers.
Brown and Brown Dealer Services president Mike Neal stated: “The addition of the DAS team will allow us to further enhance the unique solutions we provide to our dealers along with our other product provider partners.”
Last month, the insurance broker bought Heacock Insurance Group to boost its footprint in Florida.