The subsidiaries of the BRP Group insurance agency partnership have agreed to acquire substantially all of the assets of Wood Gutmann & Bogart Insurance Brokers and certain of its affiliates and related entities.
Based in Tustin, Calif., WGB is a middle-market brokerage firm that offers commercial, personal, and employee benefits insurance products and services. With annual revenues of approximately $29.7 million, WGB (No. 63 on the Insurance Journal’s “Top 100” list of independent P&C insurance agencies) is BRP Group’s sixth “Top 100” partnership based in Florida since the start of the fourth quarter of 2020.
The deal, which is being done through BRP Group’s indirect subsidiaries, including Burnham Benefits Insurance Services in Irvine, Calif., adds approximately 130 colleagues as well as the scale of BRP Group’s West Coast operations. Together with Burnham, Partnership Creates Top 3 Brokers in Los Angeles, According to Orange County Business Journal Rankings
No terms were disclosed. The acquisition is expected to be completed on or about December 1, 2021.
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