Brown & Brown Puts Up $602M For Wright Insurance Group

Law360, New York (January 16, 2014, 5:16 PM EST) -- Brown & Brown Inc. is acquiring flood insurance provider The Wright Insurance Group LLC in a deal valued at $602.5 million, the insurance intermediary said Wednesday.

Brown & Brown President and CEO J. Powell Brown said Wednesday that the companies had entered into a merger agreement, which is expected to close in April. The deal marks another major insurance acquisition for the company, after it paid $395 million to buy Arrowhead General Insurance Agency Inc. two years ago.

Wright, a specialty insurance holding company based in...
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