Brown & Brown has announced that its subsidiary, Brown & Brown Arkansas, has acquired substantially all of the assets of Coffman-Standridge Incorporated (CSI Insurance) from the company’s sole shareholder, Mark A. Coffman.
Founded in 2010, CSI Insurance provides property and casualty (P&C) insurance products and services to customers throughout Arkansas, with annual revenues of approximately $1.5 million.
Following the acquisition, the CSI Insurance team will combine with Brown & Brown’s Greater Central Arkansas operations, and will be led by C. Tim White, Executive Vice President of Brown & Brown Arkansas.
White commented: “This combination with Mark and CSI’s high-quality, experienced team offers a unique opportunity to expand our presence in Central Arkansas. There’s a strong cultural, strategic fit, and we believe together we’ll be even better positioned in providing outstanding service and products to our valued customers, as well as furthering our impact to the Russellville community.”
Coffman added: “We are excited to take our business in this new direction. Joining Brown & Brown was a strategic decision driven by our desire to make a long-term investment in the value we bring to our clients and teammates.
“The existing relationship with the local Brown & Brown office, coupled with the opportunities afforded by our new affiliation, is a perfect fit for us. We firmly believe this transaction will play a key role in achieving our goal to deliver a comprehensive set of services and solutions to our current and future clients.”
The acquisition was announced by Coffman and J. Scott Penny, Chief Acquisitions Officer at Brown & Brown.
