After Beecher deal, Brown & Brown still in M&A market

Written by Jasir Jawaid

Despite recently announcing its biggest deal since the acquisition of the parent of Arrowhead General Insurance Agency Inc., Brown & Brown Inc. President and CEO J. Powell Brown said at an investor conference that his company is not out of the M&A game.

The acquisitive insurance brokerage recently inked an agreement to acquire insurance and risk management broker Beecher Carlson Holdings Inc. in a deal valued at $360.0 million.

During the conference's question-and-answer session, Brown was asked about the Beecher deal and how it positions Brown & Brown for future acquisitions. The CEO said the deal does not change the company's view of the M&A market in any way.

"If there were two more Arrowheads out there today, we'd go buy both of them. [I]f there were two more Beechers out there, we'd go buy two of them tomorrow," Brown said.

This article was published by S&P Global Market Intelligence on the S&P Capital IQ Pro platform.