Insurance brokerage Brown & Brown, through one of its subsidiaries, has acquired Washington-based Pacific Underwriters.
With roots dating back to 1941, Pacific Underwriters acts as a program manager on behalf of certain public utility insurance risk pools in the State of Washington and also offers insurance solutions for dental practitioners in the Pacific Northwest.
Following the acquisition, Brown & Brown stated, the Pacific Underwriters team will continue doing business from their existing Seattle, Washington location as part of the broker’s National Programs segment.
Tom Kussurelis, the chief operating officer of Brown & Brown’s National Programs segment, said: “This transaction is a unique opportunity for us to boost our capabilities in two different specialised niches.
“We are pleased to continue expanding the National Programs segment’s abilities and footprint in the Pacific Northwest and look forward to an exciting future of shared success with the talented Pacific Underwriters team.”
Richard Rodruck, president of Pacific Underwriters, commented: “For nearly four decades, Pacific Underwriters has served public utility risk pools as a program manager in the State of Washington. We have also enjoyed a long-standing relationship with Brown & Brown in offering insurance solutions to dentists and dental offices.
“We are excited about the cultural and operational similarities between our organisations and look forward to continuing to provide the same high-quality, customer-focused service as part of the Brown & Brown team.”
This is one of Brown & Brown’s latest buys, as it follows the acquisition of Kentro Capital Limited into the operations of Brown & Brown Europe.
Brown & Brown Europe has also previously announced it is planning to acquire Occam Underwriting Limited, a London-based MGA and Lloyd’s Coverholder.
