If our readers remember, back in early June, Brown & Brown of Massachusetts announced its acquisition of the independent insurance agency Twinbook Insurance, in a deal which saw the former independent insurance agency’s two locations merge with the national brokerage firm.
For its second Massachusetts acquisition of the summer, Brown & Brown of Massachusetts announced this past week its acquisition of Yozell Associates, an employee benefits firm based in downtown Boston since 1960.
In a joint announcement with John Yozell, the principal of Yozell Associates, Barrett Brown, Senior Vice President in Brown & Brown’s Retail Segment, said
“John and his dedicated team have a long history of providing successful employee benefits solutions in the New England area. The Yozell team is customer-focused, community-driven and committed to incentivize, train and attract top talent. Like Brown & Brown, one part of the core Yozell mission is providing personal attention and developing unique insurance solutions for its customers. The Yozell team will strengthen our employee benefits capabilities.”
Adding his own sentiments, John Yozell stated, “After a thorough search, we are excited to join a robust national organization with the resources the future demands.”
Yozell Associates was founded over five decades ago by Mr. Yozell’s father, Peter Yozell, a former life insurance agent who began his career at MassMutual. After leaving to strike out on his own, the Yozell Associates grew to become a second-generation employee benefits, health, and welfare employee benefits brokerage firm based in Boston’s Financial District, serving clients throughout the U.S. as well as many of its U.S. customers global affiliates.
Upon completion of the sale of Yozell Associates, John Yozell along with his team will continue on with Brown & Brown of Massachusetts, continuing to operate out of their same location in downtown Boston.
Third acquisition for Brown & Brown of Mass. in nine months
With this latest acquisition, Brown & Brown of Massachusetts has acquired three Massachusetts-based insurance agencies since November 2018. In November 2018, the firm acquired the Rodman Insurance Agency, while as mentioned above, in June of this year, it also added Twinbrook Insurance to its growing roster of acquired agencies.
