DAYTONA BEACH, Fla., July 02, 2018 (GLOBE NEWSWIRE) -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Tom Lenihan and Phil Munson, the principals of Health Special Risk, Inc. (“HSR”), today announce that Brown & Brown, Inc. has acquired HSR.
Health Special Risk, which has been in business for 40 years, is one of the leading providers of TPA and MGU services for special risk and accident & health insurance. HSR has annual revenues of approximately $6,500,000. The HSR team will continue to operate from their offices in Texas and Minnesota as Health Special Risk, Inc. Tom will remain as President of HSR leading the new HSR profit center, and Phil, as Executive Vice President, will continue to oversee the MGU operations of HSR. Tom will report to Drew Smith, President of American Specialty.
Drew Smith stated, “Tom, Phil and the HSR team have been a constant in the special risk and accident & health space for decades, providing top of class service for their clients and carrier partners. We are excited about what they bring to our collective capabilities and the complementary market focus that they share with the American Specialty team.”
Tom and Phil are thrilled to join the Brown & Brown team. “Through our partnership with Brown & Brown and American Specialty, we will be provided opportunities for growth far surpassing what we could do independently. The entire HSR family is excited to join forces with Brown & Brown as we enter this new phase of our journey.”
Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance and reinsurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary. Brown & Brown’s Web address is www.bbinsurance.com.
