Brown & Brown has announced an agreement to acquire Accession Risk Management Group in a transaction valued at US$9.83 billion, which is expected to close in the third quarter of 2025.
The acquisition will see Brown & Brown purchase RSC Topco, the holding company for Accession, on a cash and debt-free basis.
Founded in 1997, Accession ranks as the ninth-largest privately held insurance brokerage in the US. Accession’s portfolio includes Risk Strategies, a specialty brokerage firm, and One80 Intermediaries, a wholesale broker and programme manager.
Brown & Brown says the acquisition will strengthen its capabilities, expand customer offerings and deepen its presence in the specialty insurance market.
“We are excited to welcome the Accession team to Brown & Brown,” says J. Powell Brown, president and CEO of Brown & Brown.
He adds that combining with Risk Strategies and One80 “represents a unique opportunity to bring the best of both organisations to the forefront, enabling us to augment and strengthen our collective growth”.
John Mina, CEO of Accession, notes the agreement would allow the company to continue its growth trajectory while preserving its culture.
“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,” he says.
Following the closing, Risk Strategies will join Brown & Brown’s retail segment, while One80 Intermediaries will become part of a newly formed specialty distribution segment.
The new specialty distribution segment will be led by Steve Boyd and Chris Walker, with Matt Power joining its senior leadership team. Mina will also join Brown & Brown’s retail senior leadership group after the acquisition is finalised.
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