Brown & Brown subsidiary and Bridge Specialty Group company is acquiring all assets of wholesale broker Leon Silver.
Metuchen, New Jersey-based Leon Silver offers commercial and personal lines within property and casualty insurance products through its retail agent network in New York, New Jersey, Pennsylvania, Florida, Connecticut and Delaware. The firm was founded by Leon G. Silver with roots dating back to 1971.
Following the transaction, Leon Silver operations will become part of Bridge Specialty Group’s “Morstan General Agency” office (Morstan).
“Leon Silver has a long history of delivering high-quality products and service to retail agents, which has paved the way for its five decades of growth and success,” Morstan Executive VP Tommy Rhodes said. “We have been extremely impressed with the Leon Silver team’s leadership and talent and believe joining forces is a win-win for our collective teams and the retail agents we serve.”
The companies’ combined operations will do business from Morstan’s Woodbridge, New Jersey location, under the leadership of Rhodes.
“This is an exciting new chapter in the history of Leon Silver Associates,” Leon Silver owner Michael Silver said. “By joining forces with the Morstan team, we will enhance our product offering for our retail agent partners, while providing greater career opportunities for our dedicated employees. We are very excited about the future.”
Bridge Specialty Group was launched this February by Brown & Brown to encompass its portfolio of wholesale insurance businesses. The company stated it is focused on bringing “the power of its collective size and specialty” to the wholesale brokerage marketplace.