Brown & Brown To Acquire Rival Accession Risk In $9.8B Deal, Announces $4B Share Sale

Insurance broker Brown & Brown, Inc. (BRO) is set to acquire rival Accession Risk Management Group, Inc. in a deal valued at $9.825 billion.

Brown & Brown said in a statement that it has entered into an agreement to acquire RSC Topco, Inc., the holding company for Accession.

The firm said that once the deal is closed, the Risk Strategies team will become part of Brown & Brown's Retail segment, with John Mina joining the Retail senior leadership team.

Meanwhile, Brown & Brown will combine its Programs and Wholesale Brokerage segments into a new Specialty Distribution segment, which will be led by Steve Boyd and Chris Walker.

Its subsidiary, One80 Intermediaries, will join Brown & Brown's new Specialty Distribution segment, with Matt Power joining the senior leadership team.

“The business will remain aligned with Brown & Brown's decentralized sales and service model, while gaining access to Brown & Brown's global resources, specialty capabilities, and collaborative network,” the firm said.

The two companies see expanded access and a market-leading portfolio of niche solutions for their customers as a result of the acquisition.

Brown & Brown said the acquired operations are expected to be accretive to its 2024 adjusted diluted net income per share. The company has filed for a $4 billion share offering, potentially to fund the deal.

Brown & Brown CEO J. Powell Brown said combining with Risk Strategies and One80 will enable the firm to augment and strengthen our collective growth.

“We are confident we will be better together as a combined organization,” he said.

The transaction is expected to close in the third quarter of 2025.

Shares of Brown & Brown traded marginally in the green in Tuesday's pre-market session. The stock has gained over 7% this year and 20% in the past 12 months.

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