DAYTONA BEACH, Fla — J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Paul Borchert and Jeff McDonald, principals of The Canopy Group, Inc., today announced that a subsidiary of Brown & Brown, Inc. has acquired the assets of The Canopy Group.
The Canopy Group is a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. Based in Le Sueur, Minnesota, The Canopy Group serves over 16,000 customers throughout Minnesota. Paul Borchert and Jeff McDonald will continue to lead The Canopy Group operations from their offices in Minnesota.
Rich Knudson, senior vice president – Retail segment, stated, “We are excited to welcome The Canopy Group. Paul and Jeff have built an impressive reputation in the Minnesota market. The Canopy Group team brings a dynamic approach to serving its personal lines customers. We look forward to incorporating this model into Brown & Brown’s operations as we expand our personal lines business and our small business commercial offerings.”
Paul Borchert and Jeff McDonald said, “We look forward to leveraging Brown & Brown’s extensive capabilities and market strength to benefit our existing customers. Access to additional markets and services will add to The Canopy Group’s robust capabilities, and our team looks forward to growing together.”
Source: Brown & Brown, Inc.
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