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Brown & Brown acquires Mavum benefits brokerage

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Indianapolis-based benefits brokerage Mavum Consulting LLC has sold its assets to Florida-based Brown & Brown Inc., the two companies reported Tuesday.

Mavum, with a staff of 13, had been pulling in annual revenue of $1.3 million by matching employers with health, life, dental, vision and disability insurance coverage for their workers, as well as offering commercial liability and property and casualty insurance.

Brown & Brown is the largest benefits brokerage in the Indianapolis area, according to IBJ research. It has 82 local employees, who handled $865 million in premiums last year.

Mavum’s staff will move from its office at 7160 Graham Road to Brown & Brown’s local office at 11555 N. Meridian St. Mavum founder and president Rod Reasen II will help with the transition in a consulting role over the next two years.

However, Reasen has been growing a second company, Healthiest Employers LLC, which is offering wellness programs to companies in several states.

Brown & Brown has acquired numerous benefits brokerages in recent years as many smaller brokerages have sold to national firms or merged small local players. Brokers say they need more heft to negotiate with larger health insurance companies and more resources in order to offer the sophisticated tools and services to help them improve their employees’ health habits.

Brown & Brown became the largest local brokerage after a string of five acquisitions between January 2008 and March 2009.

"Our Indianapolis office has grown significantly over the last few years, and we are honored to have ... members of [the] Mavum team join our operation and contribute to that growth and success,” J. Scott Penny, Brown & Brown’s regional vice president over Indiana, asid in a statement.

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  • Made me think of...
    This IBJ made me think of our friends that I ran into recently...

    B&B is the firm that bought out Mr. Sheehan's son-in-law's family business, and I wonder if our friends have something like this in mind.

    Knowing the industry, whatcha think?

    Love/Dad

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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

  2. Read the article - the reason they can't justify staying is they have too many medicare/medicaid patients and the re-imbursements for transporting these patient is so low.

  3. I would not vote for Bayh if he did run. I also wouldn't vote for Pence. My guess is that Bayh does not have the stomach to oppose persons on the far left or far right. Also, outside of capitalizing on his time as U. S. Senator (and his wife's time as a board member to several companies) I don't know if he is willing to fight for anything. If people who claim to be in the middle walk away from fights with the right and left wing, what are we left with? Extremes. It's probably best for Bayh if he does not have the stomach for the fight but the result is no middle ground.

  4. JK - I meant that the results don't ring true. I also questioned the 10-year-old study because so much in the "health care system" has changed since the study was made. Moreover, it was hard to get to any overall conclusion or observation with the article. But....don't be defensive given my comments; I still think you do the best job of any journalist in the area shedding light and insight on important health care issues.

  5. Probably a good idea he doesn't run. I for one do not want someone who lives in VIRGINIA to be the governor. He gave it some thought, but he likes Virginia too much. What a name I cannot say on this site! The way these people think and operate amuses me.

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