Brown & Brown (BRO) Acquires Kronholm Insurance Services
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE: BRO), and John Kronholm, the sole shareholder of Kronholm Insurance Services, Inc. ("Kronholm Insurance"), today announced that Brown & Brown of Connecticut, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Kronholm Insurance.
Kronholm Insurance, a second generation insurance agency, has been a leader in providing lawyer professional liability solutions, court bonds, committee of sale coverage, long term care and related commercial and personal lines products in Connecticut and Rhode Island for over 30 years. The agency has annual net revenues of approximately $2.5 million. Kronholm Insurance will combine with Brown & Brown's profit center in Rocky Hill, Connecticut, which operates under the direction of Don McGowan, Regional President of Brown & Brown, Inc.
Don McGowan stated, "John and his team have been delivering experienced insurance solutions for the legal community in Connecticut and Rhode Island for a number of years. We are excited to have the opportunity to bring broader insurance solutions to all of the Kronholm clients while leveraging our new teammates' expertise in legal professional liability insurance."
John Kronholm stated, "My team and I are very proud to be joining Brown & Brown. We are excited about the opportunity to offer our clients a wealth of additional products and services."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tucows (TCX) to Acquire eNom from Rightside (NAME) for $83.5M
- Valhi, Inc. (VHI) Names Robert D. Graham as President and CEO
- Atmos Energy (ATO) Announces Departure of CFO Bret Eckert
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!