Brown & Brown, Inc. to Acquire Accession Risk Management Group for $9.83 Billion

Brown & Brown, Inc., a prominent insurance brokerage firm headquartered in Daytona Beach, Florida, has announced its agreement to acquire Accession Risk Management Group for $9.83 billion. This strategic move is set to significantly reshape the insurance brokerage landscape, enhancing Brown & Brown's market position and service offerings.

The acquisition, disclosed on June 10, 2025, involves a combination of cash and stock considerations. To finance the deal, Brown & Brown plans to raise $4 billion through an equity offering and issue $4 billion in bonds across multiple tenors. The transaction is anticipated to close in the third quarter of 2025, pending regulatory approvals.

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

This acquisition aligns with a broader trend of consolidation within the insurance brokerage industry. Notable recent transactions include Arthur J. Gallagher & Co.'s $13.45 billion acquisition of AssuredPartners in December 2024 and its $1.2 billion purchase of Woodruff Sawyer in March 2025. These mergers reflect a strategic push among insurance brokers to expand their market presence and enhance competitive positioning.

By acquiring Accession, Brown & Brown aims to strengthen its property and casualty, as well as employee benefits insurance businesses, while bolstering its presence in the middle-market segment. The integration of Accession's subsidiaries is expected to enhance Brown & Brown's service offerings and market reach.

The completion of the deal is subject to regulatory approvals, which will assess the impact on market competition and consumer choice. The planned equity raise and bond issuance indicate Brown & Brown's commitment to maintaining financial stability while pursuing growth through acquisition.

This acquisition underscores the ongoing evolution within the insurance brokerage sector, highlighting strategic efforts to achieve growth and competitive advantage through consolidation.