Brown & Brown Inc. has signed an agreement to acquire the small business insurance unit of Conner Strong Companies Inc.The small business insurance unit, with annualized revenues of approximately $9.3 million, provides commercial insurance and employee benefits to small businesses. Finalization of the transaction is subject to the satisfaction of certain customary conditions. The deal is expected to close in January of 2009.
As part of the transaction, Joseph Morrissey, Jr. will join Brown & Brown as leader of the acquired commercial lines operations. Additionally, Brown & Brown will have two new mid-Atlantic locations as a result of the transaction.
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