Brown & Brown to Acquire Accession Risk Management for $9.83 Billion

Brown & Brown, Inc., a leading insurance brokerage firm headquartered in Daytona Beach, Florida, announced on June 10, 2025, its agreement to acquire Accession Risk Management for $9.83 billion. This acquisition is part of a broader trend of significant consolidations in the insurance industry, following Aon's $13 billion purchase of NFP and Marsh McLennan's $7.75 billion acquisition of McGriff Insurance Services.

Accession Risk Management, based in Boston, Massachusetts, is the parent company of Risk Strategies and One80 Intermediaries. The firm employs over 5,000 professionals across the U.S. and Canada. In 2024, Accession reported pro forma revenue of $1.7 billion and placed $15.7 billion in insurance premiums.

Brown & Brown plans to fund the acquisition through a $4 billion share sale, which led to a 3% dip in its stock ahead of market opening. The deal is expected to close in the third quarter of 2025. Post-acquisition, Brown & Brown intends to integrate its programs and wholesale units into a new specialty distribution segment.

This acquisition positions Brown & Brown to significantly enhance its market presence, particularly in the specialty distribution segment. By integrating Accession's extensive network and expertise, Brown & Brown aims to strengthen its competitive edge in the industry.

The trend of consolidation among major insurance brokers reflects a strategic shift towards expanding capabilities and market reach. These mergers enable firms to offer a broader range of services and leverage economies of scale, which can lead to more competitive offerings for clients.

Despite broader economic uncertainties, the insurance brokerage sector continues to experience significant M&A activity. This suggests a strong confidence in the long-term growth and profitability of the industry.

This acquisition marks a significant milestone for Brown & Brown, reflecting the ongoing evolution and consolidation within the insurance brokerage industry.