Brown & Brown has completed its purchase of Orchid Underwriters Agency and CrossCover Insurance Services.
The deal was originally announced at the end of February, when the firm entered into an agreement to purchase the two firms.
As we reported, following the acquisition by Brown & Brown, Orchid will continue to operate under the leadership of Steve Carlsen, Kathy Cody, and Ross Bowie from offices in Vero Beach and Tampa, Florida. CrossCover, meanwhile, will continue to operate under the direction of Scott Hanson from offices in Cypress, Texas. Both Orchid and CrossCover will report to Chris Walker, president of national programs.
These are not the only acquisitions made by Brown & Brown in recent months. At the beginning of March, the firm said it was going to acquire Global Risk Partners. That came a month after it said it was to acquire the general insurance operating entities of BdB Limited companies, a specialist wholesale broker.
Established in 1998, Orchid is a specialty underwriter of catastrophe-exposed property insurance for homeowners in coastal zones and for high-net-worth customers.
The Orchid management team partnered with industry veteran, Scott Hanson, to establish CrossCover, which provides E&S commercial property solutions for customers across the US.
