Brown & Brown Acquires Premier Commercial

London, UK: Brown & Brown (Europe) Ltd, part of Brown & Brown Inc. (“Brown & Brown”), has acquired 100% of the share capital of Premier Commercial Ltd (“PremCo”), an Edinburgh based MGA and Lloyd’s Coverholder.

PremCo specialises in niche construction sector property and complex liability programmes.

PremCo was established in 1995 by Crawford and Joyce Boyd. Crawford will continue to lead the business reporting to Barry Driscoll, Chief Trading Officer of Brown & Brown Europe’s MGA division.

The acquisition underscores the MGA division’s continuing interest in acquiring niche MGAs, as businesses like PremCo, which require long-term vision and commitment, are a key part of Brown & Brown’s ‘forever’ company ethos.

Clive Nathan, CEO, Underwriting, Brown & Brown Europe commented: “PremCo meets all the key criteria we look for in an MGA. A strong cultural fit, niche products, excellent underwriting performance and attractive organic growth prospects. The business will be complementary to Camberford Underwriting, which is also in the MGA division, adding construction specialisation and strengthening our offering to brokers and their customers.

“This transaction is a perfect fit for us as we have known and worked with Crawford for many years. The team have a great combination of youth and experience and as part of our MGA division, the opportunity to drive further shared success. We are excited to work with Crawford and all our new teammates.”

Crawford Boyd, Director, Premier Commercial, said: “Joining Brown & Brown marks the next step in our journey, and joining this global organisation will provide the long-term support and resources needed to take our business to the next level. Having worked with the Brown & Brown team for many years, this was the perfect opportunity and fit, and I look forward to working closely with Barry, Clive, and the wider team.”

The deal has received regulatory approval, and the consideration is undisclosed.

About Brown & Brown

Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm providing enhanced customer-centric risk management solutions since 1939. With a global presence spanning 500+ locations and a team of more than 17,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at BBrown.com.

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This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.