US-based Brown & Brown, Inc. has announced that it has entered into an agreement to acquire the Hawaii and Pacific Northwest operations of Servco Pacific Insurance. The transaction will, subject to closing conditions, close in June.
Servco’s wholly owned multi-lines insurance brokerage firm was established in Hawaii in the early 1970s, and expanded its operations in the Pacific Northwest in 2010. Its Hawaii operations will now represent Brown & Brown’s primary retail presence in the area, while its Pacific Northwest operations will merge with Brown & Brown’s existing Seattle office; Alex Bogaard will take on responsibility for running the business there.
“We share a common history with Servco of growing our family businesses into a market leader while building a strong culture that empowers our teammates,” commented Powell Brown, CEO of Brown & Brown. “Because of our similar DNA, we look forward to continuing the success of the Hawaii team and adding the depth and breadth of experience that will enhance our operations in the Pacific Northwest.”