Brown & Brown Completes $9.83 Billion Acquisition of Accession Risk Management

On August 1, 2025, Brown & Brown, Inc., a leading insurance brokerage firm, 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. This strategic move significantly enhances Brown & Brown's market position and service capabilities within the insurance industry.

Accession Risk Management Group, headquartered in Boston, Massachusetts, is the parent company of specialty insurance and risk management firms Risk Strategies and One80 Intermediaries. In 2024, Accession reported pro forma revenue of $1.7 billion and managed over $15 billion in insurance premiums. The group employs more than 5,000 professionals across the United States and Canada.

The acquisition is part of a broader trend of consolidation within the insurance brokerage sector, as firms seek to expand their service offerings and geographic reach. Notable recent transactions include Aon's $13 billion acquisition of NFP and Marsh McLennan's $7.75 billion purchase of McGriff Insurance Services.

For Brown & Brown, integrating Accession's operations is expected to bolster its property and casualty, as well as employee benefits segments, while strengthening its position in the middle-market sector. The company plans to merge its Programs and Wholesale Brokerage segments into a new Specialty Distribution segment, with leadership roles assigned to Steve Boyd and Chris Walker. One80 Intermediaries will join this new segment, with Matt Power joining the senior leadership team.

To finance the acquisition, Brown & Brown announced a $4 billion share sale, leading to a 3% decline in its stock price prior to market opening. The company anticipates that the acquired operations will be accretive to its 2024 adjusted diluted net income per share.

The insurance brokerage sector has witnessed significant consolidation, driven by firms seeking to expand their service offerings and geographic reach. Despite economic uncertainties, the industry remains resilient, with sustained demand for insurance coverage amid increasing risks such as climate-related disasters and cyber threats.

Brown & Brown's acquisition of Accession positions the company to better serve its clients through enhanced relationships with customers and carrier partners, a broader portfolio of niche solutions, and increased trading platforms for insurance carriers.

This acquisition underscores the ongoing consolidation within the insurance brokerage sector, as firms continue to pursue strategic growth through mergers and acquisitions to enhance their competitive edge in a rapidly evolving industry landscape.