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Fullerton & Co. Inc. of Portland, Ore., has annual revenues of approximately $9.3 million and focuses on benefit plans and property/casualty insurance for individuals and businesses in Oregon and throughout the northwestern United States, the company said. Operations will continue at the firm's existing location in Portland as a new freestanding Brown & Brown profit center.
Great Lakes Risk Management Inc. of Toledo, Ohio, has annual revenues of approximately $1 million and provides employee benefits insurance products and services for businesses and nonprofit organizations throughout the midwestern United States. Its staff will join Brown & Brown's existing Toledo profit center, and Great Lakes President Benjamin A. Goff will lead the Toledo center's new employee benefits department.
Brown & Brown (NYSE: BRO | Quote | Chart | News | PowerRating) is the 13th-largest broker based on broker revenue in 2007, according to Best's Review's ranking of top global insurance brokers. It offers insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care and Medicare set-aside services and programs.
Last month, Brown & Brown acquired an Atlanta-based firm that provides consulting services for health plans (BestWire, July 3, 2008).
Shares of Brown & Brown Inc. were selling at $17.50 in afternoon trading on Aug. 4, up 0.98% from the previous close.
(By Alyn Ackermann, senior associate editor, BestWeek: Alyn.Ackermann@ambest.com)
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