J. Scott Penny, Regional President of Brown & Brown, Inc. and Rodney R. Reasen II, owner of Mavum Consulting, LLC and Mavum Risk Management, LLC, each located in Indianapolis, Indiana, today announced that Brown & Brown of Indiana, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Mavum Consulting, LLC and Mavum Risk Management, LLC.
With annualized revenues of approximately $1.3 million, Mavum Consulting and Mavum Risk Management provide insurance products and services to businesses and individuals throughout the greater Indianapolis metropolitan area. Mavum Consulting and Mavum Risk Management's employees will relocate to Brown & Brown of Indiana's existing Indianapolis office, under the leadership of Fred McClaine.
Rod Reasen, the founder and owner of the Mavum companies, will assist in the transition of the acquired operations to Brown & Brown.
Mr. Penny, who is responsible for Brown & Brown's retail operations throughout Indiana, commented, "Our Indianapolis office has grown significantly over the last few years, and we are honored to have Andrew Lockerbie and the other members of Mavum team join our operation and contribute to that growth and success." Mr. Reasen added, "We are excited to be able to bring the resources of Brown & Brown to our clients."
Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance and reinsurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade, and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States' seventh largest independent insurance intermediary. The Company's Web address is www.bbinsurance.com.