Bridge Specialty Group, LLC acquires the assets of American Risk Management Resources Network
Brown & Brown's Bridge Specialty Group has acquired the assets of American Risk Management Resources Network (ARMR), a specialty wholesale environmental insurance brokerage platform. ARMR, based in Madison, Wisconsin, will maintain its operations under the leadership of President Kari Kohal. David Dybdahl will continue with ARMR, focusing on developing new product offerings and sharing environmental risks expertise through education and training.
The acquisition strengthens Bridge Specialty Group's position in the environmental casualty sector, where ARMR has been a leader for over two decades. Both Kohal and Dybdahl will report to Walter Grote, chief underwriting officer and central regional president of Bridge Specialty Group.
Il Bridge Specialty Group di Brown & Brown ha acquisito gli asset di American Risk Management Resources Network (ARMR), una piattaforma di brokerage specializzata in assicurazioni ambientali all'ingrosso. ARMR, con sede a Madison, Wisconsin, continuerà le sue operazioni sotto la leadership della Presidente Kari Kohal. David Dybdahl rimarrà con ARMR, concentrandosi sullo sviluppo di nuove offerte di prodotti e sulla condivisione della competenza nei rischi ambientali attraverso l'istruzione e la formazione.
L'acquisizione rafforza la posizione del Bridge Specialty Group nel settore delle responsabilità ambientali, dove ARMR è stata leader per oltre due decenni. Sia Kohal che Dybdahl riferiranno a Walter Grote, chief underwriting officer e presidente regionale centrale del Bridge Specialty Group.
El Bridge Specialty Group de Brown & Brown ha adquirido los activos de American Risk Management Resources Network (ARMR), una plataforma de correduría mayorista especializada en seguros ambientales. ARMR, con sede en Madison, Wisconsin, mantendrá sus operaciones bajo el liderazgo de la Presidenta Kari Kohal. David Dybdahl continuará con ARMR, enfocándose en el desarrollo de nuevas ofertas de productos y compartiendo su experiencia en riesgos ambientales a través de la educación y la capacitación.
La adquisición refuerza la posición del Bridge Specialty Group en el sector de los riesgos ambientales, donde ARMR ha sido líder durante más de dos décadas. Tanto Kohal como Dybdahl reportarán a Walter Grote, director de suscripción y presidente regional central del Bridge Specialty Group.
브라운 & 브라운의 브리지 전문 그룹이 미국 리스크 관리 자원 네트워크 (ARMR)의 자산을 인수하였습니다. ARMR은 환경 보험 도매 중개 플랫폼으로, 위스콘신주 매디슨에 본사를 두고 있습니다. ARMR은 카리 코할 회장의 지도 아래 운영을 계속할 것입니다. 데이비드 다이프달은 ARMR에 계속 남아 새로운 제품 제공을 개발하고 환경 위험 전문 지식을 교육 및 훈련을 통해 공유하는 데 집중할 것입니다.
이번 인수는 브리지 전문 그룹의 환경 사고 분야에서의 입지를 강화하며, ARMR은 이 분야에서 20년 이상의 역사를 가지고 있습니다. 코할과 다이프달은 모두 브리지 전문 그룹의 최고 인수팀장 및 중앙 지역 사장인 월터 그로트에게 보고할 것입니다.
Le Bridge Specialty Group de Brown & Brown a acquis les actifs de American Risk Management Resources Network (ARMR), une plateforme de courtage spécialisée dans les assurances environnementales en gros. ARMR, basé à Madison, Wisconsin, poursuivra ses opérations sous la direction de la présidente Kari Kohal. David Dybdahl continuera avec ARMR, en se concentrant sur le développement de nouvelles offres de produits et le partage de son expertise en matière de risques environnementaux par le biais de l'éducation et de la formation.
Cette acquisition renforce la position du Bridge Specialty Group dans le secteur des risques environnementaux, où ARMR est un leader depuis plus de deux décennies. Kohal et Dybdahl rendront compte à Walter Grote, directeur de la souscription et président régional central du Bridge Specialty Group.
Die Bridge Specialty Group von Brown & Brown hat die Vermögenswerte von American Risk Management Resources Network (ARMR) erworben, einer spezialisierten Großhandelsplattform für Umweltschutzversicherungen. ARMR mit Sitz in Madison, Wisconsin, wird unter der Leitung von Präsidentin Kari Kohal weiterhin operieren. David Dybdahl wird weiterhin bei ARMR sein und sich darauf konzentrieren, neue Produktangebote zu entwickeln und Fachwissen zu Umweltrisiken durch Schulung und Weiterbildung zu teilen.
Die Akquisition stärkt die Position der Bridge Specialty Group im Bereich der Umwelthaftpflicht, in dem ARMR seit über zwei Jahrzehnten eine Führungsrolle spielt. Sowohl Kohal als auch Dybdahl werden an Walter Grote berichten, den Chief Underwriting Officer und Präsidenten der zentralen Region der Bridge Specialty Group.
- Acquisition expands Bridge Specialty Group's environmental insurance capabilities
- Retains key leadership and expertise in environmental risk management
- Strengthens market position in specialty wholesale environmental insurance sector
- Maintains established operational structure and customer relationships
- None.
Insights
This strategic acquisition strengthens Brown & Brown's specialty insurance portfolio, particularly in the growing environmental risk sector. ARMR's expertise in environmental insurance brokerage adds a valuable niche capability to Bridge Specialty Group's offerings. The deal aligns with the company's expansion strategy and should enhance its competitive position in specialty insurance markets.
The acquisition's value proposition lies in ARMR's established market presence and specialized knowledge in environmental risks, which could drive incremental revenue growth. The retention of key leadership, including David Dybdahl and Kari Kohal, ensures continuity of operations and relationships with production partners. This move should contribute positively to Brown & Brown's wholesale brokerage segment performance.
Environmental insurance is experiencing growing demand due to increased regulatory scrutiny and corporate ESG initiatives. ARMR's specialized platform for environmental risk assessment and insurance placement positions Brown & Brown to capitalize on this expanding market segment. The acquisition enhances Bridge Specialty Group's ability to serve clients with complex environmental exposure needs.
The strategic fit is compelling - ARMR's expertise complements Bridge Specialty Group's existing capabilities while opening new revenue streams. The Madison, Wisconsin location also provides geographical diversification benefits. This transaction demonstrates Brown & Brown's commitment to building out its specialty insurance capabilities through targeted acquisitions.
DAYTONA BEACH, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and David Dybdahl and Cynthia Statz, owners of American Risk Management Resources Network, LLC (“ARMR”), today announced that a Bridge Specialty Group company and subsidiary of Brown & Brown, Inc. has acquired the assets of ARMR.
ARMR is a specialty wholesale environmental insurance brokerage platform serving production partners nationwide. The ARMR team combines a deep knowledge of environmental risks and insurance with customized environmental insurance placement designs. ARMR will continue to operate from Madison, Wisconsin, under the operational leadership of Kari Kohal, president. David Dybdahl will continue with ARMR, focusing on building new product offerings and sharing his curated knowledge of environmental risks and insurance through education and training. Kari and David will report to Walter Grote, chief underwriting officer and central regional president of Bridge Specialty Group.
Steve Boyd, president of Bridge Specialty Group, stated, “We are thrilled that the ARMR team is joining Bridge Specialty Group. For over two decades, ARMR has proven itself a leader in the environmental casualty sector. The addition of ARMR represents continued execution of our strategy to deliver specialty niche capabilities for our customers across Bridge Specialty Group.”
David Dybdahl said, “We are very excited to become part of Bridge Specialty Group. ARMR and Bridge Specialty Group are aligned in our focus on customer service and our vision for the future. We believe Bridge is uniquely positioned to allow ARMR to bolster and expand upon the established value proposition we offer our retail insurance brokerage partners.”
About Bridge Specialty Group, LLC
Bridge Specialty Group, LLC was launched in February 2021 by Brown & Brown, Inc. to encompass its broad portfolio of wholesale insurance businesses and is focused on bringing the power of its collective size and specialty to the wholesale brokerage marketplace. Composed of more than 25 boutique brands, Bridge Specialty Group is creating a more seamless way to connect the varying needs of our retail partners with the market clout and talents of our wholesale entities. To learn more about Bridge Specialty Group and our team of niche-focused brands, please visit www.bridgespecialtygroup.com.
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 16,000 teammates and 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit bbinsurance.com.
This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.
For more information:
R. Andrew Watts
Chief Financial Officer
(386) 239-5770
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