Brown & Brown Insurance Agency of Virginia has acquired all of the assets of WBR Insurance Agency, Wilson Insurance Agency, Bell Insurance Agency, and Robertson Insurance Agency, (collectively known as, WBR Insurance).
WBR Insurance, which has been operating for most of its time as part of Nationwide Mutual Insurance Company’s exclusive distribution model, recently became an independent insurance broker.
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The acquired entity provides a range of property and casualty insurance products to businesses and individuals in Virginia and other states along the East Coast.
Post-acquisition, the WBR Insurance team will continue to work from its existing office as a branch location of Brown & Brown’s Norfolk, Virginia.
The operations of the acquired entity will be overseen by Bill Strachan and David McIlravy, who currently serve as president and executive vice president of Brown & Brown Insurance Agency of Virginia, respectively.
Brown & Brown retail segment regional president Mike Keeby said: “Alex, Clay, and John have leveraged their impressive experience and expertise to build one of the premier insurance agencies in Virginia Beach.
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By GlobalData“They have had great success as an exclusive Nationwide agency over the years, and we are excited to take this next step together and welcome them to the Brown & Brown team.”
WBR Insurance Agency principal Alex Bell said: “When Nationwide decided to change its distribution model from an exclusive to independent agency platform, we set out to find a larger independent partner that could serve the needs of our customers and employee team members.
“Brown & Brown shares the same values and commitment to customer service that have served us well since we formed our agency. We are so excited to become part of the Brown & Brown team and to continue meeting and exceeding our customers’ expectations.”
Last month, Brown & Brown purchased all of the assets of Innovative Risk Solutions and LSI Lender Services, a company which offers employee benefits solutions for clients.
