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Overview of Transaction

  • Morstan General Agency is a wholesale MGA/MGU offering a wide range of products in commercial lines, personal lines, employee benefits and life insurance products.

  • Founded in 1964, Morstan operates from its headquarters in Manhasset, New York, with additional offices in New York City, New Jersey and Florida and at the time of the transaction had total approximate annual revenues of $34 million.

  • Morstan will become a new profit center for Brown & Brown and continue to operate under the Morstan name from its headquarters in Manhasset, making it the fifteenth distinct brand in the Brown & Brown Wholesale Division.

Significance of Transaction

  • Morstan General Agency insurance has been an integral part of the wholesale insurance market in Long Island and New York City for many years. The leadership team has expanded the wholesale expertise into surrounding states and Florida, while developing opportunities in emerging, under-served niche markets.

  • The Morstan General Agency acquisition allows Brown & Brown to establish itself as a dominate force in the northeast wholesale market while expanded its expertise in the commercial wholesale market.

  • Morstan has always striven to bring innovative insurance solutions to our retail partners through their strong relationships with carriers. Morstan’s management believes that partnering with Brown & Brown’s Wholesale Division will only enhance what they can bring to their strategic partners.

Sica | Fletcher's Role

  • Sica | Fletcher served as exclusive strategic and financial advisor to Morstan General Agency.

  • Sica | Fletcher leveraged its deep knowledge, extensive experience and broad industry relationships to help achieve a highly favorable outcome for the company.

  • The Morstan General Agency transaction demonstrates Sica | Fletcher’s continued success advising Wholesale and MGA Insurance Brokers.

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