M&A Deal Summary

Brown & Brown Acquires Ocean Marine Insurance Agency

On December 17, 2015, Brown & Brown acquired insurance company Ocean Marine Insurance Agency

Acquisition Highlights
  • This is Brown & Brown’s 40th transaction in the Insurance sector.
  • This is Brown & Brown’s 43rd transaction in the United States.
  • This is Brown & Brown’s 1st transaction in Rhode Island.

M&A Deal Summary

Date 2015-12-17
Target Ocean Marine Insurance Agency
Sector Insurance
Buyer(s) Brown & Brown
Deal Type Add-on Acquisition

Target

Ocean Marine Insurance Agency

Warwick, Rhode Island, United States
Ocean Marine Insurance Agency, Inc. is a provider of maritime insurance products, including insurance for commercial fishing vessels, commercial vessels.

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Buyer(S) 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States

Category Company
Founded 1939
Sector Insurance
Employees16,152
Revenue 4.2B USD (2023)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

Brown & Brown is a provider of insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association and individual clients. Brown & Brown was founded in 1939 and is based in Daytona Beach, Florida.


DEAL STATS #
Overall 43 of 109
Sector (Insurance) 40 of 97
Type (Add-on Acquisition) 41 of 105
State (Rhode Island) 1 of 1
Country (United States) 43 of 103
Year (2015) 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-09 Smith Insurance

Niantic, Connecticut, United States

Smith Insurance, Inc. is a provider of personal lines and commercial insurance services in Connecticut and Rhode Island for over 75 years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-05 Lumbermens Insurance and Risk Solutions

Bend, Oregon, United States

Lumbermens Insurance and Risk Solutions is a provider of personal lines and commercial insurance services from offices in Bend, Oregon.

Buy -