Brown & Brown acquires Texas retail brokerage

Brown & Brown Inc. said Monday it has acquired Houston-based Harco Insurance Services Inc. and Lone Star Affiliates Inc., which does business as Harco Financial Services.

The retail broking companies, known collectively as Harco, serve businesses and individuals throughout Texas.

Terms of the deal were not disclosed.

Harco has approximately 25 employees, according to its website. They will continue to work out of their current office as a branch location of Brown & Brown’s Houston retail operations under Ryan Beavers, executive vice president of Brown & Brown Lone Star Insurance Services Inc.

Tommy K. Huval, regional president of Brown & Brown’s retail segment, who oversees offices in Texas and Louisiana, said the deal would expand the broker’s Texas presence.

Daytona Beach, Florida-based Brown & Brown is the fifth largest broker of U.S Business according to the latest Business Insurance rankings.