Brown & Brown, Inc. Acquires Tire Shield's Assets
In an exciting development for the insurance sector, Brown & Brown, Inc. (NYSE:BRO), represented by chief acquisitions officer J. Scott Penny, has successfully acquired the assets of Tire Shield, Inc. This move is anticipated to significantly bolster the services offered by Brown & Brown Dealer Services (BBDS).
About Tire Shield
Tire Shield, a company established in 1997, specializes in providing administrative services for various dealers and agents covering tire and wheel road hazard products, as well as GAP waiver products targeted at the RV, automotive, and power sports industries. With this acquisition, Tire Shield's talented team will integrate into BBDS while continuing operations in their current Las Vegas offices. They will report directly to William Kelly, the president of BBDS's administrative services.
Expansion of Services
Mike Neal, the president of BBDS, conveyed his enthusiasm about welcoming the Tire Shield team aboard. He emphasized that the integration of Tire Shield not only enhances their product portfolio but also introduces GAP waiver administration services alongside existing vehicle service contract administration. BBDS aims to strengthen its service capacity and customer relationships with this new addition.
Looking Towards the Future
Mark Otto, the owner of Tire Shield, expressed excitement over the partnership, highlighting the fresh opportunities it presents for both teams. He stated that joining forces with BBDS marks a pivotal moment, offering numerous avenues for innovation and value delivery to customers. This collaboration is expected to accelerate growth and improve customer experiences.
About Brown & Brown, Inc.
Founded in 1939, Brown & Brown, Inc. has evolved into a premier insurance brokerage firm recognized for delivering tailored and comprehensive insurance solutions. With over 700 locations globally and a dedicated team of more than 23,000 professionals, the company focuses on developing scalable and innovative strategies that cater to their clients' ever-evolving needs.
Customer Commitment
Brown & Brown, Inc. is deeply committed to enhancing service offerings and creating value for customers. The acquisition of Tire Shield exemplifies this commitment as the company seeks to further its impact in the insurance landscape by integrating innovative services that meet customer demands.
Frequently Asked Questions
What led to the acquisition of Tire Shield by Brown & Brown?
The acquisition allows Brown & Brown to expand its services, particularly in GAP waiver administration, thereby enhancing their capabilities and customer offerings.
How will the Tire Shield team be integrated into Brown & Brown?
The Tire Shield team will continue operations from their Las Vegas offices and report to William Kelly, ensuring continuity and expertise in their new corporate structure.
What services does Tire Shield provide?
Tire Shield specializes in administrative services for products related to tire and wheel road hazards and GAP waivers across several industries.
When was Brown & Brown, Inc. established?
Brown & Brown, Inc. was founded in 1939 and has grown to become a leading player in the insurance brokerage industry.
What is the mission of Brown & Brown?
The mission of Brown & Brown is to deliver comprehensive, tailored insurance solutions while maintaining a customer-centric approach in all service offerings.
