Brown & Brown, Inc. announces sale of certain third-party administer businesses and enters into long-term strategic relationship with Davies Group Ltd.
DAYTONA BEACH, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), today announced an agreement with Davies Group Ltd. (“Davies”) that includes the sale of four third-party administrator (“TPA”) businesses and a long-term strategic commercial relationship.
- DAYTONA BEACH, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), today announced an agreement with Davies Group Ltd. (“Davies”) that includes the sale of four third-party administrator (“TPA”) businesses and a long-term strategic commercial relationship.
- Further, Brown & Brown is establishing a long-term commercial relationship with Davies to leverage their claims services capabilities to enhance Brown & Brown’s core brokerage and programs operations.
- Chris Walker, president of the National Programs segment, stated, “Brown & Brown has had a working relationship with the Davies organization for many years.
- Through our discussions, we determined that we had an opportunity to enhance both of our organizations through a strategic transaction.