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Brown & Brown of Florida Inc. has acquired CKP Insurance LLC, Brown & Brown Inc. said Thursday.
Terms of the transaction were not disclosed.
CKP, based in Boca Raton, Florida, serves the agricultural industry throughout the United States and provides property/casualty insurance to customers in Florida, Daytona Beach, Florida-based Brown & Brown said in a statement.
CKP will operate as a stand-alone entity from existing offices in Florida, Arizona and New Mexico within Brown & Brown’s retail segment under principals Chuck Hemphill and Kevin Rader, the statement said.
Brown & Brown is the world’s seventh-largest insurance brokerage, according to Business Insurance’s latest ranking.
Brown & Brown Inc. posted revenue of $575.2 million for the second quarter of 2019, up 21.6% over the same period last year, as the brokerage completed more acquisitions and reported 3.9% organic growth across all operations.