Brown & Brown unit buys Massachusetts-based broker
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Brown & Brown Inc. on Monday said a subsidiary has acquired wholesale insurance broker RLA Insurance Intermediaries LLC.
RLA, which was acquired by Peachtree Special Risks Brokers LLC, a subsidiary of Daytona Beach, Florida-based Brown & Brown, will continue to do business from its Boston headquarters and other locations in West Palm Beach, Florida; Brentwood, Tennessee; Potomac Falls, Virginia; and Manassas, Virginia, according to the statement.
The offices will continue under the leadership of Jeff Hays, who co-founded the firm in 2010 with Chris Skaletsky, and form a stand-alone operation with Brown & Brown’s wholesale brokerage segment.
Terms of the deal were not disclosed, said Brown & Brown Chief Financial Officer R. Andrew Watts.
Mr. Watts said Jeff Hays is the son of Jim Hays, CEO of Hay Cos., which Brown & Brown acquired in 2018.
Brown & Brown said in December it had agreed to buy Canadian managing general agent Special Risk Insurance Managers Ltd.
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