Travers Smith LLP has advised leading insurance brokerage firm, Brown & Brown, Inc. ("Brown & Brown"), on its entry into the agreement to acquire independent wholesale Lloyd's broker, BDB Holdings and BDB (UK) ("BDB"). The acquisition is expected to complete in the second quarter of 2022 and is subject to certain conditions.
BDB has grown to be a preeminent specialist wholesale broker providing access to specialty insurance products for insurance professionals in both the UK and the European markets. The BDB team specialises in providing a range of insurance solutions through open market brokerage or acting as an MGA for specific lines of business.
Brown & Brown is quoted on the NYSE and is the fifth largest independent insurance brokerage in the USA. They provide risk management solutions via four business segments: Retail, National Programs, Wholesale Brokerage, and Services. They also offer insurance products and services to businesses, corporations, governmental institutions, professional organizations, trade associations, families, and individuals.
The Travers Smith team was led by Corporate Partner Jonathan Walters, with support from Director Neal Watson, Senior Counsel AJ Venter, Associates Tara Gazzard and Peter Borland, and Trainee Victoria Alvarez-Rendueles. The team also included Tax Partner Simon Skinner, Senior Associate Silvana van der Velde and Associate Laura O'Flynn as well as Financial Services & Markets Senior Counsel Sam Brewer and Associate Oliver Smith.
