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AssuredPartners acquires London brokerage

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AssuredPartners Inc. on Thursday said it has acquired London-based B&W Brokers Ltd.

B&W, which reported about $3.5 million in revenue, specializes in property/casualty insurance, Lake Mary, Florida-based AssuredPartners said in a statement. Terms of the deal were not disclosed.

B&W’s 13-member staff will continue to work under Managing Director Michael Bender and will become part of AssuredPartners’ London operations in the coming weeks.

AssuredPartners, an acquisitive, private equity-backed brokerage, is the 13th-largest broker of U.S. business, according to Business Insurance’s latest ranking. The firm has also recently been restructuring its management.