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. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

ADVERTISEMENT