DAYTONA BEACH, Fla. — J. Scott Penny, chief acquisitions officer of Brown & Brown Inc., and Jason Bayko and Bob Hunter, the principals of Finance & Insurance Resources Inc. (F&I Resources), have announced that Brown & Brown of Kentucky Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of F&I Resources.
F&I Resources was founded in 1993 and has grown to become a leader in F&I performance management for auto dealers in the Northeast and Mid-Atlantic states by providing F&I sales training and auto related warranty products for their dealer partners. F&I Resources has annual revenues of approximately $10.5 million. The F&I Resources team will become part of the Brown & Brown auto, RV and powersports practice, which operates under the leadership of Mike Neal, president of Brown & Brown of Kentucky Inc.
Neal stated, “Jason and Bob have grown F&I Resources to be a best-in-class operation delivering sales performance training and warranty insurance products for their dealer partners. The F&I Resources team will provide additional expertise to our growing platform in this space and establish a base for operations in the Northeast. We are confident that this will complement and enhance our existing operations.”
Bayko stated, “I could not be more excited to become a part of Brown & Brown and their sales culture. We are now well positioned to grow by having access to additional insurance products, giving us a unique value proposition for our dealer partners.”
Hunter added, “Brown & Brown’s culture, which is focused on clients and teammates, is a perfect match for us. Joining our company with Brown & Brown will provide us the opportunity to enhance our relationships with our valued customers through additional product offerings and training. I want to take this time to thank our dedicated, talented and long-term team members and our clients for their past and continued support.”
Brown & Brown Inc., through its subsidiaries, offers a broad range of insurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary. Brown & Brown’s Web address is www.bbinsurance.com.
SOURCE: Brown & Brown Inc. press release