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Brown & Brown Seller Companies (BBDS), a part of US insurance coverage dealer Brown & Brown, has accomplished the acquisition of ABS.
The businesses didn’t disclose the monetary phrases of the transaction.
ABS, which incorporates ABS Danger and ABS Operations, is a guaranty product administrator working within the car aftermarket, with greater than 20 years of expertise within the {industry}.
It offers component-specific warranties, nationwide street hazard programmes, and nationwide elements and labour restore warranties.
As per the phrases of the settlement, Michael Cox, CEO of ABS, will proceed to supervise the crew from its present location in Denver, Colorado.
Cox will report back to BBDS president Mike Neal.
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BBDS is a finance and insurance coverage (F&I) firm centered on creating bespoke options geared toward automobile retailers.
Neal stated: “Michael and Craig [Sanford] have accomplished a tremendous job in rising ABS right into a premier supplier of aftermarket guarantee merchandise, serving buyer companions which might be industry-leading suppliers of tires and aftermarket auto elements.
“The ABS crew and Brown & Brown Seller Companies share a concentrate on customer support and the event of modern product choices. The BBDS crew is worked up so as to add the abilities of ABS to our capabilities as we proceed to supply guarantee options for our collective clients.”
Cox added: “We’re excited in regards to the synergies this partnership will carry to our enterprise. Brown & Brown’s full suite of main insurance coverage programmes and automotive [finance and insurance] F&I merchandise will allow us to supply new value-added options to our aftermarket clients.”
In October this yr, Brown & Brown acquired property of Pacific Underwriters, which manages public utility insurance coverage danger swimming pools.
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