Brown & Brown, Inc. announces the acquisition of
Highcourt Breckles Group
DAYTONA BEACH, Fla., April 3, 2023 – J. Scott Penny, chief acquisitions officer of
Brown & Brown, Inc. (NYSE:BRO), and Mark R. McKay and Chris Coniglio announce
that Brown & Brown has completed the acquisition of Highcourt Partners Limited and its
subsidiaries eUnderwriters and CLIS.
Highcourt Partners Limited was founded in 2011 as an entrepreneurial international
insurance brokerage and risk consulting firm. On April 7th, 2021, Highcourt Partners
Limited transformed into the Highcourt Breckles Group (HBG) when it merged with the
Breckles Group, a Toronto-based agency with a 70 year history of providing insurance
solutions for its customers.. HBG’s purpose is to help Canadian businesses be more
competitive and assist individuals in preserving their wealth wherever they may be. They
have consistently been ranked in Insurance Business Magazine’s Top 30 Elite Brokers, Top
10 Brokerages, Top 30 Brokerages and Young Guns.
HBG will operate within the Brown & Brown Retail segment and will continue to be led by
Mark McKay, HBG chief executive officer. Following the completion of the transaction,
Mark will report to Mary Raveling, Brown & Brown senior vice president and Retail senior
leader and become a member of the Brown & Brown senior leadership council.
Mark stated, “This combination with Brown & Brown is very positive for our customers
and colleagues and we look forward to continuing to build out and expand our offerings.
Together, we have a well-run insurance brokerage focused on customer service with a local
presence and global capabilities through Brown & Brown. This foundation will serve us
well as we invest and grow our Canadian footprint as part of the Brown & Brown team.”
“This transaction brings many exciting opportunities to Brown & Brown,” commented
Mary Raveling. “The addition of HBG to Brown & Brown offers us new opportunities,
enhanced resources and a strong leadership team to facilitate growth in the Canadian
market. I’m very excited to begin working closely with Mark and his talented team.”
Barrett Brown, president of the Retail segment and executive vice president, commented,
“Mark and his team are like-minded individuals that have a disciplined focus on doing
what is best for their customers, colleagues and carrier partners. The addition of HBG to
the team expands our capabilities and ability to help customers of all sizes and geographic
locations. We are proud to continue our growth on a global scale.”
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk
management solutions to individuals and businesses since 1939. With 15,000+ teammates
in 500 locations worldwide, we are committed to providing innovative strategies to help
protect what our customers value most. For more information or to find an office near you,
please visit bbinsurance.com.
This press release may contain certain statements relating to future results which are
forward-looking statements, including those associated with this acquisition. These
statements are not historical facts but instead represent only Brown & Brown’s current
belief regarding future events, many of which, by their nature, are inherently uncertain and
outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results
and financial condition may differ, possibly materially, from the anticipated results and
financial condition indicated in these forward-looking statements. Further information
concerning Brown & Brown and its business, including factors that potentially could
materially affect Brown & Brown’s financial results and condition, as well as its other
achievements, is contained in Brown & Brown’s filings with the Securities and Exchange
Commission. Such factors include those factors relevant to Brown & Brown’s
consummation and integration of the announced acquisition, including any matters
analyzed in the due diligence process, and material adverse changes in the business and
financial condition of the seller, the buyer, or both, and their respective customers. All
forward-looking statements made herein are made only as of the date of this release, and
Brown & Brown does not undertake any obligation to publicly update or correct any
forward-looking statements to reflect events or circumstances that subsequently occur or of
which Brown & Brown hereafter becomes aware.
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For more information:
R. Andrew Watts
Chief Financial Officer
(386) 239-5770