IBJNews

Brown & Brown acquires Mavum benefits brokerage

Back to TopCommentsE-mailPrintBookmark and Share

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.

ADVERTISEMENT

  • 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

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

ADVERTISEMENT