Brown & Brown's Oregon Unit Buys Lumbermens Insurance
A subsidiary of Brown & Brown, Inc. BRO, Brown & Brown of Oregon, LLC, has acquired Lumbermens Insurance and Risk Solutions.
Lumbermens Insurance, a personal lines and commercial insurance service provider, boasts annual revenues of about $2 million. Post-acquisition, Lumbermens will continue to operate from its current headquarter in Bend, OR, as a profit center of Brown & Brown.
With a solid history of operations in Oregon for more than a century, Lumbermens Insurance delivers quality and innovative insurance solutions to its clients in the region. Thus, acquiring Lumbermens Insurance will not only leverage the acquirer’s position in the region but also expand its capabilities.
On the other hand, Lumbermens Insurance is set to benefit from the acquirer’s distinguished capabilities, which will enable it to better serve its customers with superior services and expanded products.
Brown & Brown, along with its subsidiaries, has been making numerous strategic acquisitions to boost inorganic growth. Notably, Brown & Brown Insurance Services of California, Inc., another affiliate of the insurer purchased some of assets of BayRisk Insurance Brokers, Inc. in January.
Zacks Rank and Other Stocks to Consider
Currently the insurance broker carries a Zacks Rank #3 (Hold). Some better-ranked stocks are Willis Towers Watson Public Limited Company WLTW, Marsh & McLennan Companies, Inc. MMC and Blue Capital Reinsurance Holdings Ltd. BCRH. Each of these stocks hold a Zacks Rank #2 (Buy).
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