BROWN & BROWN TO ACQUIRE MORSTAN IN NEW YORK

US broking group Brown & Brown has agreed to acquire the bulk of the assets of Morstan General Agency, a New York-based managing general agency and underwriter that offers a wide range of commercial and personal lines, employee benefits and life assurance products. Terms of the deal, which is expected to close in June, were not disclosed. Morstan will continue to operate under its own name from its headquarters in Manhasset, becoming the 15th distinct brand in Brown & Brown’s wholesale division. Jay and Howie Levy will continue to oversee sales and underwriting and will report to Kathy Colangelo, senior vice-president of the Brown & Brown wholesale division.