Brown & Brown Acquires Accession Risk Management for $9.83 Billion, Marking Major Industry Consolidation

On June 10, 2025, Brown & Brown, Inc., a leading insurance brokerage firm, announced its agreement to acquire Accession Risk Management Group, Inc., the parent company of Risk Strategies and One80 Intermediaries, for approximately $9.83 billion. This acquisition is part of a broader trend of consolidation within the insurance brokerage industry, following similar large-scale mergers such as Aon's $13 billion purchase of NFP and Marsh McLennan's $7.75 billion acquisition of McGriff Insurance Services.

Accession, based in Boston, employs over 5,000 professionals across the U.S. and Canada. In 2024, it reported pro forma revenue of $1.7 billion and placed $15.7 billion in insurance premiums. The acquisition is expected to close in the third quarter of 2025, with Brown & Brown planning to integrate its programs and wholesale brokerage segments into a new specialty distribution segment.

To finance the deal, Brown & Brown intends to raise $4 billion through a share sale. Following the announcement, the company's stock experienced a 3% decline in pre-market trading.

This acquisition underscores the ongoing consolidation in the insurance brokerage sector, as firms seek to enhance their market presence and competitive edge through strategic mergers.

The insurance brokerage industry has witnessed significant consolidation in recent years. In December 2023, Aon announced the acquisition of NFP for $13.4 billion, aiming to expand its presence in the middle-market segment. Similarly, Marsh McLennan acquired McGriff Insurance Services for $7.75 billion, further consolidating the industry.

Following the announcement, Brown & Brown's stock experienced a 3% decline in pre-market trading. As of July 14, 2025, the stock is trading at $107.67, with an intraday high of $108.20 and a low of $106.29.

This acquisition positions Brown & Brown to strengthen its property-casualty and employee benefits divisions, enhancing its presence in the middle-market segment. Both organizations share core values, including an entrepreneurial spirit and a commitment to profitable growth, facilitating smoother integration.

Brown & Brown's acquisition of Accession Risk Management Group exemplifies the strategic maneuvers companies are undertaking to remain competitive in a rapidly consolidating industry. By expanding its capabilities and market reach, Brown & Brown is poised to offer more comprehensive services to its clients, reflecting the evolving dynamics of the insurance brokerage landscape.