Brown & Brown (BRO) to Acquire Arrowhead General Insurance
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Brown & Brown, Inc. (NYSE: BRO), has entered into an agreement to acquire the parent company of Arrowhead General Insurance Agency, Inc., a national insurance program manager and one of the largest managing general agents (MGAs) in the property and casualty insurance industry, from Spectrum Equity Investors, JMI Equity and a management equityholder group.
The transaction is expected to close in January 2012 and is subject to customary closing conditions, including regulatory approval. The transaction will be a cash transaction and is not subject to financing conditions.
The transaction is expected to close in January 2012 and is subject to customary closing conditions, including regulatory approval. The transaction will be a cash transaction and is not subject to financing conditions.
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