Brown & Brown acquires Tennessee agency

Brown & Brown of Tennessee Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Spann Insurance Inc., the companies said Tuesday. 

Financial terms of the deal were not disclosed.

With annual net revenues of about $3 million, Nashville, Tennessee-based Spann Insurance
 will transition into Brown & Brown’s Brentwood, Tennessee, office, which operates under John Esposito, regional president of Brown & Brown Inc.

“Jack and Lee, along with their mother Gwen, and son, John, have successfully led an agency with a 65-year history in Nashville,” Mr. Esposito said in a statement. “We are excited to have the opportunity to bring broader insurance solutions to all of the Spann clients while bringing the strength of the Spann team to our Nashville office, led by Ryan Rothrock.”