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Brown & Brown announces asset acquisition of BayRisk Insurance Brokers

IBR Staff Writer Published 12 January 2016

Scott Penny, chief acquisitions officer of Brown & Brown (BRO), and Denton L. Christner, H. Scott Kerns, and Kevin M. Milroy, the principals of BayRisk Insurance Brokers, announced that Brown & Brown Insurance Services of California, a subsidiary of Brown & Brown, has acquired certain assets of BayRisk.

With roots dating back to 1935, BayRisk provides a wide range of property and casualty insurance products and services, including specialty programs for mobile food service vendors, restaurants, technology companies, apartments and recreational marine, to clients throughout California. The company has annual revenues of approximately $2.5 million.

Following the transaction, the BayRisk team will relocate to Brown & Brown's existing Lafayette, California office, a branch location of Brown & Brown's "Sitzmann Morris & Lavis" (SML) profit center. The combined operations will operate under the leadership of Matthew M. Sitzmann, Executive Vice President of Brown & Brown Insurance Services of California.

Charles H. Lydecker, who oversees Brown & Brown's retail offices in California, stated, "We are extremely impressed with BayRisk's significant history in the San Francisco Bay area, its commitment to community outreach and involvement, and its proven system of delivering top-notch service and solutions to its clients. This transaction allows us to strengthen our California presence and adds a number of innovative insurance programs to our menu of products. We are pleased to welcome the BayRisk team to our Brown & Brown family."

Kevin Milroy commented, "The team at BayRisk is excited to partner with Brown & Brown. We share the common objective of working diligently for each customer, and ensuring outstanding results and lasting relationships. We welcome their talent and resources, and look forward to growing with the exceptional leadership at Brown & Brown and its SML operations."

Brown & Brown, through its subsidiaries, offers a broad range of insurance and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services.



Source: Company Press Release