We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Brown & Brown (BRO) to Boost Employee Benefits With Buyout
Read MoreHide Full Article
Brown & Brown, Inc. (BRO - Free Report) announced that Brown & Brown of Florida, Inc. has bought Sudler Insurance Services.
Founded in 1995, Sudler Insurance Services offers employee benefits products and services across Florida, Michigan and South Carolina. The addition of Sudler Insurance will boost the acquirer’s employee benefits business.
Brown & Brown and its subsidiaries continuously make strategic acquisitions to expand globally, add capabilities and boost operations. Also, these strategic buyouts help Brown & Brown to increase commissions and fees, which, in turn, drive revenues.
Brown & Brown’s impressive growth is driven by organic and inorganic means across all segments. Also, strategic acquisitions and mergers help it spread its operations. In over a span of a more than two decades, the company has acquired about 500 insurance intermediary operations. In the first half, it completed four acquisitions with annual revenues of approximately $44 million. Brown & Brown intends to make consistent investments in boosting organic growth and margin expansion. Its solid earnings have allowed the company to expand its capabilities with the buyouts extending the company’s geographic footprint.
Consistent operational results have been aiding Brown & Brown in generating solid cash flows for deployment in strategic initiatives. It has maintained a strong liquidity position, with $850.2 million of cash and cash equivalents as well as $800 million of accessible capital on revolver.
Shares of Brown & Brown have rallied 17.6% year to date compared with its industry’s increase of 6.3%. We expect this Zacks Rank #2 (Buy) insurance broker’s sustained operational performance, higher commissions and fees, and a sturdy capital position to help it retain the momentum.
Image Source: Zacks Investment Research
Given insurance industry’s adequate capital level, players are pursuing strategic mergers and acquisitions. Arthur J. Gallagher & Co. (AJG - Free Report) inked an agreement to buy Willis Towers Watson plc’s Willis Re for $3.25 billion in cash to expand its global value proposition in reinsurance. Horace Mann Educators Corporation (HMN - Free Report) has agreed to buy Madison National Life Insurance Company for $172.5 million to boost its presence in the education market.
Image: Bigstock
Brown & Brown (BRO) to Boost Employee Benefits With Buyout
Brown & Brown, Inc. (BRO - Free Report) announced that Brown & Brown of Florida, Inc. has bought Sudler Insurance Services.
Founded in 1995, Sudler Insurance Services offers employee benefits products and services across Florida, Michigan and South Carolina. The addition of Sudler Insurance will boost the acquirer’s employee benefits business.
Brown & Brown and its subsidiaries continuously make strategic acquisitions to expand globally, add capabilities and boost operations. Also, these strategic buyouts help Brown & Brown to increase commissions and fees, which, in turn, drive revenues.
Brown & Brown’s impressive growth is driven by organic and inorganic means across all segments. Also, strategic acquisitions and mergers help it spread its operations. In over a span of a more than two decades, the company has acquired about 500 insurance intermediary operations. In the first half, it completed four acquisitions with annual revenues of approximately $44 million. Brown & Brown intends to make consistent investments in boosting organic growth and margin expansion. Its solid earnings have allowed the company to expand its capabilities with the buyouts extending the company’s geographic footprint.
Consistent operational results have been aiding Brown & Brown in generating solid cash flows for deployment in strategic initiatives. It has maintained a strong liquidity position, with $850.2 million of cash and cash equivalents as well as $800 million of accessible capital on revolver.
Shares of Brown & Brown have rallied 17.6% year to date compared with its industry’s increase of 6.3%. We expect this Zacks Rank #2 (Buy) insurance broker’s sustained operational performance, higher commissions and fees, and a sturdy capital position to help it retain the momentum.
Image Source: Zacks Investment Research
Given insurance industry’s adequate capital level, players are pursuing strategic mergers and acquisitions. Arthur J. Gallagher & Co. (AJG - Free Report) inked an agreement to buy Willis Towers Watson plc’s Willis Re for $3.25 billion in cash to expand its global value proposition in reinsurance. Horace Mann Educators Corporation (HMN - Free Report) has agreed to buy Madison National Life Insurance Company for $172.5 million to boost its presence in the education market.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.