Brown & Brown has received all the necessary regulatory approvals for the transaction. Credit: JHVEPhoto/Shutterstock.com.

Brown & Brown (Europe) has acquired 100% share capital of personal and commercial lines broker R McGee Insurance Brokers (R McGee).

Established in 1974, R McGee is a family run broker based in Maesteg, Glamorgan, a county in South Wales.

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It offers independent advice and insurance solutions to both individuals and businesses across the region.

The company is headed by managing director Andrew McGee together with fellow directors Julie and Simon McGee.

The companies have decided to keep the deal’s consideration undisclosed.

Brown & Brown said that it has already received all the necessary regulatory approval for the transaction.

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Following the acquisition, the R McGee business will now report to Brown & Brown Retail director Matt Hartigan, who is also the CEO of Higos, a broker business of Brown & Brown for the South West.

Commenting on the latest transaction, Hartigan said: “Andrew, Julie and Simon’s business is an object lesson in how to build a successful community broker predicated on high-quality service and a deep understanding of the community where the firm operates.

“It is great that they have agreed to commit their future to Brown & Brown, and we look forward to giving the team all the additional support they need to take R McGee to the next level.”

The transaction will not impact operations at the R McGee office in Maesteg, which will continue to remain in place.

The entire existing R McGee team will now become part of Brown & Brown.

Andrew McGee added: “We are looking forward to putting our future and those of our customers into the hands of Brown & Brown.

“The family ethos that runs through the business even now was apparent in our discussions with Matt, and that was an important factor in our decision to sell. Matt painted a compelling picture of the opportunities ahead for us and our customers and clients, and we are excited to be a part of it.”

Recently, Brown & Brown Dealer Services, part of Brown & Brown, completed the acquisition of ABS.