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Brown & Brown, Inc. Announces the Asset Acquisition of Nies Insurance Agency, Inc.

Posted on 17 Jan 2011

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C. Roy Bridges, Regional President of Brown & Brown, Inc. and Gerald L. "Jerry" Nies, President of Nies Insurance Agency, Inc. of Camas, Washington, announced last week the acquisition of substantially all of the assets of Nies Insurance Agency, Inc. by Fullerton & Company, Inc., a subsidiary of Brown & Brown.

With annual revenues of approximately $2.7 million, Nies Insurance Agency has served the personal, commercial, and employee benefits insurance needs of clients in the greater Portland Oregon/Vancouver, Washington area for 39 years. Jerry Nies and his team will continue to serve their clients from their Camas and Battle Ground, Washington locations, under the leadership of Tim Nielsen, Vice President of Fullerton & Company.

The transaction does not include the joint venture between Nies Insurance Agency and iQ Credit Union, which will continue to operate separately.

Mr. Bridges commented, "We are excited that Jerry and his team are joining our growing team in the greater Portland/Vancouver metropolitan region. Nies Insurance Agency's continued emphasis on personal service, combined with Brown & Brown's resources, will mean greater opportunities for our company, clients and employees." Jerry Nies noted, "We are thrilled to join the talent and resources of the Fullerton organization. We value the relationships we have with our local communities and this transaction will allow us to continue this tradition while greatly expanding choices, products, and services to our clients."

Brown & Brown, Inc.'s subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade, and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the seventh largest independent insurance intermediary in the United States.