Brown & Brown acquires California agency

Brown & Brown Inc.'s Brown & Brown of Northern California, Inc. subsidiary has acquired substantially all of the assets of Oakland, Calif.-based Sitzmann, Morris & Lavis Insurance Agency, Inc., Daytona Beach, Fla.-based Brown & Brown announced Tuesday.

SML was founded in 1980 by Gary R. Sitzmann, and deals with the employee benefits, life insurance, estate planning, and business continuity fields. With annual revenues of approximately $18 million, SML is the largest independent insurance brokerage and consulting firm in northern California, according to Brown & Brown.

SML Financial Services, L.L.C. is not part of the transaction and will continue to operate from its existing Oakland location.