Brown & Brown Completes $9.83 Billion Acquisition of RSC Topco

DAYTONA BEACH, Fla. — Brown & Brown, Inc., a leading insurance brokerage firm, has completed its acquisition of RSC Topco, Inc., the holding company for Accession Risk Management Group, Inc., in a transaction valued at approximately $9.83 billion. The deal, announced on June 10, 2025, was finalized on August 1, 2025.

Founded in 1939, Brown & Brown provides a wide range of insurance and risk management solutions. With this acquisition, the company expands its global presence to over 700 locations and increases its workforce to more than 23,000 professionals.

Accession Risk Management Group, headquartered in Boston, Massachusetts, is the parent company of Risk Strategies and One80 Intermediaries. Established in 1997, Risk Strategies specializes in insurance and risk management solutions, while One80 Intermediaries operates as an insurance wholesaler. Together, they employ over 5,000 professionals across the U.S. and Canada.

The acquisition is part of a broader trend of consolidation within the insurance brokerage industry, where firms are engaging in large-scale mergers to enhance market presence and competitive positioning. By acquiring Accession, Brown & Brown aims to strengthen its property and casualty, and employee benefits divisions, while bolstering its presence in the middle-market segment.

Post-acquisition, Brown & Brown plans to integrate its programs and wholesale brokerage segments into a new Specialty Distribution segment. Risk Strategies will become part of Brown & Brown’s Retail segment, with John Mina joining the Retail senior leadership team. One80 Intermediaries will join the new Specialty Distribution segment, with Matt Power joining its senior leadership team.

In the second quarter of 2025, Brown & Brown reported an 8.2% increase in commissions and fees, totaling $1.25 billion, reflecting sustained demand for insurance coverage amid increasing risks such as climate-related disasters and cyber threats. The company's adjusted net income per share rose to $1.03 from 93 cents in the same period the previous year.

Following the announcement of the acquisition, Brown & Brown's stock experienced a slight decline, dipping 0.6% in early trading. This reaction is typical as investors assess the implications of large-scale mergers and the associated financing strategies.

The consolidation trend in the insurance brokerage industry may lead to increased market concentration, potentially affecting competition and pricing within the sector. For clients, the merger could result in access to a broader range of services and expertise, given the combined resources and capabilities of the merged entities.

Brown & Brown's acquisition of Accession Risk Management Group marks a significant milestone in the company's growth trajectory, reflecting broader industry trends toward consolidation. The successful integration of Accession's operations is poised to enhance Brown & Brown's service offerings and market position, benefiting clients and stakeholders alike.