Brown & Brown to buy Accession Risk Management for $9.82bn

Brown & Brown has agreed to acquire RSC Topco, the holding company for Accession Risk Management Group, for a gross purchase price of $9.83bn.

The terms of the agreement stipulate that Brown & Brown will acquire RSC on a cash and debt-free basis.

Accession, established in 1997, operates Risk Strategies, a specialty brokerage, and One80 Intermediaries, an insurance wholesaler and programme manager.

The company employs more than 5,000 insurance professionals across the US and Canada and reported pro forma adjusted revenues of around $1.7bn for 2024.

Post-acquisition, Risk Strategies will become part of Brown & Brown’s Retail segment, with John Mina, the current leader, joining the retail senior leadership team.

Additionally, Brown & Brown will merge its Programmes and Wholesale Brokerage segments into a new specialty distribution segment.

One80 Intermediaries will be incorporated into the specialty distribution segment, with executive Matt Power joining the senior leadership team.

The acquisition is expected to strengthen Brown & Brown's customer, carrier partner relationships, enhance trading platforms for insurance carrier partners and contribute to revenue and cash flow growth.

Brown & Brown president and CEO J. Powell Brown said: “Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organisations to the forefront, enabling us to augment and strengthen our collective growth."

The acquisition is subject to customary closing conditions and regulatory approvals, with an expected completion date in the third quarter of 2025 (Q3 2025).

Accession CEO John Mina stated: “As we began contemplating the next major leap in our journey, we were adamant that any potential partner must have the capability and conviction to strengthen our ability to create an industry powerhouse, win amid industry consolidation, lead through innovation and champion our cultural values.

"We are pleased to have found that in Brown & Brown.”

In April this year, Brown & Brown (Europe) acquired Irvine Commercial Insurance Brokers, a Kenilworth-based company specialising in insurance broking services for small and medium-sized enterprises in the UK.

"Brown & Brown to buy Accession Risk Management for $9.82bn " was originally created and published by Life Insurance International, a GlobalData owned brand.

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