Brown & Brown acquires catastrophe insurance agency

Arrowhead General Insurance Agency Inc., a subsidiary of Daytona Beach, Florida-based Brown & Brown Inc., has acquired substantially all of the assets of TriCoast Insurance Services L.L.C. 

Financial terms of the deal were not disclosed.

Camarillo, California-based TriCoast Insurance, which provides access to earthquake and hurricane insurance products, has annual net revenue of about $2.4 million, the companies said Monday in a joint statement.

TriCoast Insurance’s assets will become a part of Arrowhead, operating under the direction of Steve Bouker, San Diego-based executive vice president of Arrowhead. Craig Justice, principal of TriCoast Insurance Services, will continue to partner with Arrowhead, according to the statement.

“Craig’s extensive experience in the earthquake and hurricane insurance space was invaluable in the development and marketing of new products,” Mr. Bouker said in a statement. “We look forward to further expanding our product offerings and Craig’s continued partnership with Arrowhead.”