On Thursday, Brown & Brown Inc. announced the formation of the Bridge Specialty Group to house its 25 wholesale units.
Bridge, which includes wholesale brokers, general government agencies, general insurance brokers and other specialty brokers, has 45 locations in the United States and London and will be headed by Stephen M. Boyd as president, Brown & Brown said in a statement. Mr. Boyd, which is based in San Diego, previously led the brokerage's wholesale brokerage segment.
Other leading leaders for Bridge are Executive Vice President Neal Abernathy, Kathy Colangelo and Joe Failla, who previously held senior roles in Brown & Brown.
According to Business Insurance latest Agents and Brokers Rankings and Directory, wholesale accounts for about 33% of Brown & Brown's brokerage revenues.
"As part of a multi-billion dollar premium book, we can maximize our collective experience, technical know-how and strong transportation capabilities," Boyd said in the statement.