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Daytona Beach, Florida-based Brown & Brown Inc. said Monday that one of its subsidiaries has acquired the assets of C & C Risk Services L.L.C., a Houston-area managing general agent.
Terms of the transaction were not disclosed.
C & C Risk Services, which provides excess public entity insurance coverage to municipalities, has annual revenues of about $1 million, Brown & Brown said in a statement.
Following the acquisition, C & C Risk Services will operate as part of Brown & Brown's wholesale brokerage division from its existing Texas and Florida locations, according to the statement. The firm was founded in 2013 by Craig Balco and Chris Fuller.
Brown & Brown is the world’s sixth-largest insurance brokerage, according to Business Insurance’s latest ranking.
Brown & Brown Insurance Agency of Virginia Inc., a subsidiary of Brown & Brown Inc., said Thursday it has acquired most of the assets of Kerxton Insurance Agency Inc. and its division, Fitness Underwriters Inc.