Brown & Brown Insurance Agency of Virginia Inc., a subsidiary of Brown & Brown Inc., has acquired Lambert, Riddle, Schimmel & Co.
The business conditions were not disclosed.
Based in Fairfax, Virginia, LRS & C provides personal and business insurance products and services to customers in the Midi Atlantic and has annual revenues of about $ 1.6 million, Brown & Brown said in a statement on Wednesday.
After the acquisition, the LRS & C team, including shareholders Jim Riddle and Tom Schimmel, will join Brown & Brown's existing Manassas, Virginia, office headed by Bill Strachan, CEO of Brown & Brown Insurance Agency in Virginia, says statement.
Brown & Brown is the world's eighth largest insurance broker according to Insurance Mediation ] latest ranking.