Brown & Brown buys specialty MGA

Brown & Brown Inc. has agreed to buy Canadian managing general agent Special Risk Insurance Managers Ltd., the brokerage announced Monday.

The deal is expected to close on Jan. 1, 2020, and the Langley, British Columbia-based MGA will operate as part of Brown & Brown National programs, the brokerage said in a statement. Terms were not disclosed.

Special Risk Insurance Managers has six offices across Canada and offers sports and entertainment insurance, marine and aviation insurance, forestry business coverage and other specialty commercial insurance coverages, according to its website.

Mark Woodall will continue to head the Special Risk Insurance Managers team, and Tom Willie will continue to lead its underwriting operations, the Brown & Brown statement said.