Insurance brokerage Brown & Brown, Inc. has today announced the acquisition of Izzo Insurance Services, Inc., an Illinois-based wholesale brokerage that specializes in workers’ compensation insurance. The deal was made by Hull & Company, LLC, a subsidiary of Brown & Brown.
Izzo Insurance Company was founded by Karen J. Izzo in 1980. The firm has annual revenues of approximately $2 million. Following the acquisition, the company will continue to operate under the leadership of Karen Izzo from its existing location in Bloomingdale, IL. It will become part of Brown & Brown's wholesale brokerage division under the leadership of the unit’s president, Tony Strianese.
"We’re proud to partner with Hull & Company, an organization that values our expertise, culture and commitment to our markets,” Izzo commented. “I’m confident our nationwide workers’ compensation program for most industry classes, in addition to our exclusive security guard specialty program, will continue to thrive under this platform. The Izzo team looks forward to a very successful partnership while continuing to provide exceptional service to our valued agents."
Kathy Colangelo, a senior vice president of Brown & Brown, sang the praises of Izzo Insurance Services, describing the team as “recognized leaders” in the workers’ compensation space. She will have oversight of the new Izzo Insurance Services office following the acquisition.
“Their expertise and customer-focused approach has enabled them to build long-standing relationships with their carrier and retail agent partners,” Colangelo said. “We’re excited to watch the Izzo Insurance Services team succeed and continue to grow as part of the Brown & Brown organization."