Brown & Brown Acquires Corporate Insurance Advisors
Sica | Fletcher advises Corporate Insurance Advisors, LLC (“CIA”) in its sale to
Brown & Brown (NYSE: BRO).
Overview of Transaction
Established in 2005, CIA is a full-service retail insurance agency headquartered in Fort Lauderdale, Florida.
CIA writes commercial lines, personal lines, and employee benefits business across a variety of industries. The Company offers comprehensive program audits, risk management and loss control analysis, and HR program design, and implementation and compliance services.
CIA agreed to partner with Brown & Brown, Inc. (NYSE: BRO). Brown & Brown is the world’s sixth-largest insurance brokerage firm, and a leading provider of risk management solutions to individuals and businesses.
Significance of Transaction
The CIA partnership expands Brown & Brown’s share in the Southeast marketplace while simultaneously adding a young management team with a highly diversified book of business.
CIA will bring to its customers BRO’s capabilities in terms of scope of offerings, deeper bench strength and enhanced geographic footprint.
Sica | Fletcher's Role
CIA engaged Sica | Fletcher to explore multiple strategic options for the firm, culminating in its sale to Brown & Brown.
This transaction underscores Sica | Fletcher’s strong relationship with publicly traded companies, having previously worked with Brown & Brown on numerous deals.