Brown & Brown buys brokerage

Brown & Brown Inc. has acquired commercial and personal lines brokerage Rodman Insurance Agency Inc., the companies said in a statement Monday.

Terms of the deal were not disclosed.

Rodman, based in Needham Heights, Massachusetts, has annual revenues of $9.5 million. It specializes in providing property/casualty insurance products and services to commercial customers in the real estate, habitational, restaurant and transportation industries, the statement said.

Following the acquisition, Rodman will continue to operate from its Needham Heights office under the leadership of Andy Altman, president and shareholder, it added.

The firm’s website lists about 40 employees across both commercial and personal lines.

A spokesman for Brown & Brown said in an email that the firm does not comment beyond its releases.

“Rodman Insurance Agency has built an exceptional reputation as one of the premier independent agencies in New England,” Donald M. McGowan, regional president in Brown & Brown’s retail division, who will oversee Rodman operations, said in the statement. “We continue to be impressed with the strength and diversity of Rodman’s leadership and look forward to collaborating with their team to open new doors.”

“Being part of a larger organization will give our clients access to a broader array of resources while continuing to work with the same service team,” Mr. Altman said in the statement.