Brown & Brown has revealed that one of its subsidiaries – Hull & Company – has acquired all the assets of The Colonial Group and its affiliate, Colonial Premium Finance Company.
Founded in 1961, The Colonial Group is a managing general agency for independent retail insurance agents handling P&C insurance for businesses and individuals, mainly in the Southeast. It specializes in housing, recreational, and specialty insurance, as well as certain nationwide niche insurance programs.
The firm also offers insurance premium financing through Colonial Premium Finance Company.
Following the acquisition, The Colonial Group team will continue operating from Greensboro, NC as a standalone office within Brown & Brown’s wholesale brokerage segment, under the leadership of Jason Haupt.
“Bob, Jason, and their team have built an impressive organization that fits very well both geographically and culturally within Brown & Brown,” said Brown & Brown wholesale brokerage segment senior vice-president Kathy Colangelo.
“Our entire organization is very excited to become part of the Brown & Brown team. The cultural fit, the entrepreneurial spirit, and customer focus of both organizations bodes well for our future success. We believe our customers, employees, and carriers will all benefit from this transaction,” stated The Colonial Group chairman and CEO Bob Burke.
“As a specialty wholesaler, this new partnership offers us a wonderful opportunity to access resources and expand our carrier relationships, and to position our team for new opportunities,” added The Colonial Group president and COO Jason Haupt.