Brown & Brown (Europe) Limited ("Brown & Brown") has acquired 100% of the share capital of HoldCo NHL Ltd, the holding company of Nsure Ltd ("Nsure"), a specialist commercial Chartered insurance broker based in Worthing, West Sussex, with an expertise in renewables.
The business will become part of Brown & Brown's South East retail broker, Greens, under the leadership of Duncan Coleman. Nsure's Managing Director Phil Bristow and his broking team will continue to operate in their Worthing office under the existing brand.
Duncan Coleman said the acquisition of Nsure brings significant expertise in the fast-growing renewables sector, as well as a highly competent and experienced team. "Phil [Bristow] has overseen the creation of an exceptional business with a great reputation for customer servicing and a strong presence along the South Coast."
"It's great news that they have agreed to become part of Brown & Brown, and I want to extend a warm welcome to the Nsure team; I look forward to supporting them as they embark on the next stage of their development."
Commenting on the acquisition, Phil Bristow said: "The opportunity to become part of Brown & Brown was too good to miss. I'm confident that we will go from strength to strength during the next phase for the benefit of our people and our customers."
"The 'forever company' ethos that Brown & Brown encourages was a key element in our decision, and I am excited about our future as part of the bigger group."
The acquisition has received regulatory approval, and the consideration is undisclosed.
About Green Insurance Group
Greens writes personal and commercial insurance and has particular strengths in property and SME with its own unique wordings for property, commercial combined, shops & offices, motor trade and professional indemnity. The business has six branches in the South, including the head office in Bexhill.
About Brown & Brown (Europe) Limited
Brown & Brown (Europe) Limited operates retail broking, specialist MGA, network and Lloyd's businesses, enabling the business to serve the growing insurance and risk management needs of its customers. Brown & Brown (Europe) is an operating unit of Brown & Brown, Inc.'s Retail segment.
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With 16,000+ teammates in approximately 500 locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit.
This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown's current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown's control. It is possible that Brown & Brown's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown's financial results and condition, as well as its other achievements, is contained in Brown & Brown's filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown's consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.
Information: Ben Welsh 07568 382040
Brown & Brown Inc. published this content on 13 November 2023 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 15 November 2023 14:24:58 UTC.