DAYTONA BEACH, Fla. — J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Rex Caton and John Hosey, the owners of Caton-Hosey Insurance (“Caton Hosey”), today announced that Brown & Brown has entered into an agreement to acquire the assets of Caton Hosey. The transaction is expected to close in early January 2024, subject to certain closing conditions.
Caton-Hosey shares roots with Brown & Brown in the Florida insurance market reaching back to 1948 with the founding of Caton Insurance in Volusia County. Throughout the 75 year history of the firm, Caton Hosey has been a fixture in central Florida providing personal service and unique insurance solutions for individual and commercial customers. Rex Caton took over the agency from his father Richard Caton in 1990 with John Hosey joining the firm in 1993. Rex and John purchased the agency from Richard, which then became Caton-Hosey Insurance. The Caton-Hosey team will continue to operate from their office in Port Orange, Florida under the leadership of Rex and Barbara Caton and John Hosey.
Barrett Brown stated, “We are very pleased to welcome Rex, John, Barbara and the Caton-Hosey team as Brown & Brown teammates. From the time when Hyatt Brown and Richard Caton ran their respective firms, we have been friendly competitors and share a mutual respect that we each focus on customers first in delivering results. Rex and John will work with Steve Farmer and Brown & Brown to access additional resources and opportunities for Caton-Hosey to continue to deliver positive insurance results for their customers. We look forward to our future together.”
Rex Caton said, “The future is bright transitioning our company to become part of the Brown & Brown organization. My dad, Richard Caton, would be proud that we are joining with his longtime friend, Hyatt Brown. We bring an excellent team along with John Hosey’s additional leadership to the Brown family and Brown & Brown Insurance.”
Source: Brown & Brown, Inc.
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