Posted on 07 Jan 2011
Scott Penny, Regional President of Brown & Brown, Inc.; Mark S. Balcos and Scott N. Balcos, principals of Balcos Insurance, Inc.; and Michael P. Howard, principal of M C H, Inc. of Seattle, d/b/a Mike Howard Insurance, today announced the acquisition of substantially all of the assets of Balcos Insurance, Inc. and M C H, Inc. of Seattle by Brown & Brown of Washington, Inc., a subsidiary of Brown & Brown.
With annual revenues of approximately $3.0 million, Balcos Insurance, Inc. offers a broad spectrum of personal lines and commercial lines insurance, as well as specialized products and services for the restaurant and hospitality, automotive service and repair, construction, and manufacturing and distribution industries, among other specialty niches. Founded in 1985, the agency serves clients throughout the western United States. In June 2010,
Mark Balcos, President of Balcos Insurance, was named the 2010 Agent of the Year by the Professional Insurance Agents (PIA) of Washington/Alaska.
Mike Howard Insurance, with annual revenues of approximately $500,000, has provided its individual and business clients in the greater Seattle area and throughout the state of Washington with a variety of personal, life, and commercial insurance products and services since 1992.
Following the transactions, Brown & Brown of Washington will operate from two new locations, in Ballard (Seattle) and Bellingham, Washington, under the leadership of Mark Balcos.
Mr. Penny, who is responsible for Brown & Brown of Washington's retail operations, commented, "The Balcos brothers and Mike Howard have built two of the finest insurance operations in the Pacific Northwest. We are honored to have their teams of insurance professionals join us and help us expand our retail presence in Seattle and into northern Washington as well." Mark Balcos stated, "I am excited that Balcos Insurance and Mike Howard Insurance will now be part of Brown & Brown. The company's business model is based upon local leadership and service, backed by the size and strength of a national organization. Joining Brown & Brown will enable us to expand and improve service for our most valued clients and career opportunities for our employees."