Brown & Brown of Ohio, a unit of insurance brokerage firm Brown & Brown, has snapped up substantially all of the assets of Ohio-based Berry Insurance Group.
Berry Insurance Group founder Mark Berry will retain leadership of the business.
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He will run the business from its offices in Terrace Park and Lebanon, Ohio, and report to Brown & Brown Retail regional president Tommy Huval.
Berry Insurance Group offers commercial as well as personal insurance products. The firm, set up in 2002, serves both business as well as individual customers across the Cincinnati tri-state area.
Commenting on the deal, Mark Berry said: “In looking for a partner to take Berry Insurance Group to the next level, I was focused on cultural fit, resources to better serve the risk management needs of our customers and an opportunity for our team to be the foundation for a broader presence in the Ohio market. In Brown & Brown, we have found that partner.
“I am excited for the future opportunities for the Berry Insurance Group team, our customers and carrier partners.”
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By GlobalDataFinancial terms of the transaction were not shared.
Huval added: “Berry Insurance Group embodies the same culture and focus on insurance solutions that drives Brown & Brown.
“We are excited to join forces with Mark and the Berry team and know that they will provide a solid base for us to continue the growth of our retail presence in Ohio and surrounding areas.”
The latest deal continues Brown & Brown’s buying spree.
Last year remained a busy one for the company with several consolidation activities.
Among the firm’s acquisitions last year include the purchase of the assets of private equity specialist HAUSER, and Loan Protector Insurance Services, among others.
