Brown & Brown, a U.S.-based insurance brokerage firm with over 17,000 professionals across 500 locations, has entered into a definitive agreement to acquire Accession Risk Management Group for $9.825 billion in an all-cash, debt-free deal. Accession, headquartered in Boston, is the parent company of specialty firms Risk Strategies and One80 Intermediaries, with a combined 2024 pro forma adjusted revenue of approximately $1.7 billion. The transaction is expected to close in the third quarter of 2025, pending customary regulatory approvals. Brown & Brown CEO J. Powell Brown stated, “Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organizations to the forefront, enabling us to augment and strengthen our collective growth.”
Accession’s CEO, John Mina, added, “We are pleased to have found that in Brown & Brown. This is a one-of-a-kind, ‘great acquires great’ transaction, with each company sharing deep commitments to our teammates – and teammate ownership – strong customer relationships and specialization across core business segments.” Following the acquisition, Risk Strategies will become part of Brown & Brown’s Retail segment, and One80 Intermediaries will join a newly formed Specialty Distribution segment. The integration is expected to enhance customer relationships, expand niche product offerings, and improve carrier partnerships. The deal is projected to be accretive to Brown & Brown’s 2024 adjusted diluted net income per share, offering long-term financial benefits and increased market capabilities.
