Brown & Brown, Inc. announced its subsidiary, Brown & Brown Lone Star Insurance Services, acquired the assets of Harco Insurance Services, according to Christopher L. Goff, Willis J. Hargrave, III, and Geraldeen Rougeau-Eubank, the principals of the Texas-based independent insurance agency.
The financial terms of the deal were not disclosed.
Harco, founded in 1969, is a full-service, independent retail insurance agency serving businesses and individuals throughout Texas.
Tommy K. Huval, a regional president in Brown & Brown’s Retail segment who oversees various offices in Texas and Louisiana, said Harco’s long, successful history is due to the company’s focus on building long-term customer and carrier relationships.
“We are excited to continue expanding Brown & Brown’s Texas presence,” Huval said, “and to welcome Josh, Gerri, and Chris, along with the rest of the talented Harco team, to the Brown & Brown family. I have had the privilege of knowing Josh for many years and am pleased with the capabilities of our combined team.”
Harco’s Willis Hargrave said the team is looking forward to joining Brown & Brown and enhance the products, resources, and continued services provided to Harco customers.
“We share common business values,” Hargrave said, “and believe the relationship will be most beneficial to all parties, including our valued customers and the insurance companies with which we do business.”
Pursuant to the deal, the Harco team will continue operating from the existing Houston office as a branch location of Brown & Brown’s Houston retail operations.
The combined offices will operate under the leadership of Ryan Beavers, executive vice president of Brown & Brown Lone Star Insurance Services.
