NU Online News Service, Jan. 20, 10:28 a.m. EST
Brown & Brown has acquired Independent Pharmaceutical Consultants, strengthening its benefits division, while Arthur J. Gallagher says it acquired a South Carolina agency with roots dating back more than 70 years.
Daytona Beach, Fla.-based insurance broker Brown & Brown announced late yesterday that it acquired O’Fallon, Mo.-based Independent Pharmaceutical Consultants, Inc., a pharmaceutical benefits management consulting and compliance services firm with clients throughout the United States.
IPC, with annual revenues of approximately $1.8 million, was founded in 1991 by Kenneth W. “Ken” Anderson, a registered pharmacist. IPC will join Evergreen Rx, a division of Brown & Brown’s Evergreen Re, to form a new combined specialty pharmacy benefit consulting department.
IPC President Ken Anderson, principals Christine Johnston and Kathy Friedman and the rest of the team will continue to serve clients from their main office in O’Fallon.
Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. says it has acquired Riley & Associates, Inc. in Mt.Pleasant, S.C.
Established in 1936, Riley & Associates is a retail insurance broker providing property and casualty insurance and risk management services to their commercial and personal lines clients primarily in the southeastern United States. The firm specializes in insurance coverage for the hospitality, moving and storage, transportation and marine industries.
Russell Parker, the principal, and his associates will continue to operate in Mt. Pleasant under the direction of Mitchel Brashier, Southeastern regional manager of Gallagher's retail P&C brokerage operation.
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