A subsidiary of insurance brokerage Brown & Brown, Inc., Hull & Company, LLC, has acquired the assets of Texas All Risk, a managing general agent (MGA) for independent retail insurance agencies.
Texas All Risk places a broad range of P&C insurance for businesses and individuals in Texas, Louisiana, and also Oklahoma.
Once the transaction completes, the Texas All Risk team will continue operating from its Dallas, Texas location as a stand-alone office within the broker’s Wholesale Brokerage Segment, under the leadership of Kelly Davis.
The deal has been announced by J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and Kelly Davis, who is the owner of All Risk General Agency, Inc; Select General Agency, LLC; TARGA Investment Corporation; TARGA Premium Finance Company, Inc; and Texas All Risk General Agency, Inc. – known collectively as Texas All Risk.
Davis commented on the transaction: “This transaction represents an exciting new chapter for Texas All Risk. We are extremely proud of all we’ve accomplished, but we believe the future of the wholesale insurance marketplace lies in the hands of a few major players. We can’t imagine better partners to help take our agency to the next level than Kathy, her team at Hull & Company, and the Brown & Brown family.”
Kathy Colangelo, a Senior Vice President (SVP) within Brown & Brown’s Wholesale Brokerage Segment, added: “Over the years, we have always been impressed by Kelly Davis and Texas All Risk as a competitor in the Texas marketplace. We are extremely excited about this transaction and look forward to the promising growth opportunities for the Wholesale Brokerage Segment to expand within Texas and further into Louisiana and Oklahoma.”
