Posted: 02.12.2007
Sterling Heights, Mich., February 12, 2007—Sterling Heights-based ALCOS, a privately held insurance, employee benefits and retirement planning firm, has been acquired by Daytona, Fla.-based Brown & Brown, a publicly held company.
ALCOS will maintain its name and continue its business operations with no changes in management at its locations in Sterling Heights and Ann Arbor.
The partnership with Brown & Brown will allow ALCOS to maintain a strong presence in Michigan and also provide growth opportunities to serve multi-state and multi-national clients, Eugene LoVasco, President and CEO of ALCOS, said.
“We are very excited because ALCOS can continue providing our existing clients the service they’ve come to expect, while offering new carriers, new lines of business and specialty programs that enhance their experience,” LoVasco said.
Brown & Brown, the sixth largest insurance intermediary in the nation according to Business Insurance magazine, has 170 offices in 34 states, and is traded on the New York Stock Exchange under the (BRO) symbol.
An award-winning company, ALCOS is one of Michigan’s largest insurance agencies, offering individually tailored commercial and personal insurance products, employee benefits services, financial, pension and 401(k) services.
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