Brown & Brown, Inc. completed its previously announced acquisition of RSC Topco, Inc., the holding company for Accession Risk Management Group, Inc.
The acquisition was revealed June 10. Brown and Brown said it would acquire RSC for $9.825 billion.
Accession, the parent to Risk Strategies and One80 Intermediaries, was established in 1997 and was the ninth-largest privately held insurance brokerage in the United States. Accession has over 5,000 insurance professionals throughout the U.S. and Canada and posted 2024 pro forma adjusted revenues of approximately $1.7 billion.
Brown and Brown President and CEO J. Powell Brown said, “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. The brokerage business built by Mike Christian and John Mina and the wholesaler and program manager business built by Matthew F. Power bring complementary and added capabilities that, when aligned with the broader Brown & Brown organization, further position us to extend our reach and consistently deliver for our customers through enhanced market relationships and expanded offerings.”
Accession Risk Management Group CEO John Mina said the deal is a “one-of-a-kind, great acquires great transaction.”
“As we began contemplating the next major leap in our journey, we were adamant that any potential partner must have the capability and conviction to strengthen our ability to create an industry powerhouse, win amid industry consolidation, lead through innovation and champion our cultural values,” Mina said. “We are pleased to have found that in Brown & Brown.”
The Risk Strategies team will become part of Brown & Brown’s retail segment, and Mina will join the retail senior leadership team. The business will remain aligned with Brown & Brown’s decentralized sales and service model, while gaining access to Brown & Brown’s global resources, specialty capabilities and collaborative network.
In connection with the closing, Brown & Brown will combine its programs and wholesale brokerage segments into a new specialty distribution segment, which will be led by Steve Boyd and Chris Walker. One80 Intermediaries will join the operations of the new specialty distribution segment, with Power joining the segment’s senior leadership team.
