Canopy Group sells goods to Brown & Brown

Brown & Brown, through one of its subsidiaries, has acquired the assets of The Canopy Group, a Minnesota-based insurance company.

Headquartered in Le Sueur, Canopy Group specializes in personal lines and commercial property and casualty insurance for small businesses. The agency serves more than 16,000 clients across the state.

Following the acquisition, for undisclosed financial terms, principals Paul Borchert and Jeff McDonald will continue to oversee The Canopy Group's operations at the company's existing offices, including in Minnetonka and Belle Plaine.

“Access to additional markets and services will add to The Canopy Group's strong capabilities, and our team looks forward to growing together.”

Rich Knudson, senior vice president of Brown & Brown's sales division, highlighted how Borchert and McDonald have “built a great reputation” in Minnesota.

“The Canopy Group team brings a flexible approach to serving its personal lines customers,” commented Knudson. “We look forward to incorporating this model into Brown & Brown's operations as we expand our personal lines business and our retail offerings for small businesses.”

Prior to the deal, Brown & Brown appointed Mike Neal and Mark Abate to its senior leadership team and the retail division to its senior leadership team.

“Mike and Mark's experience and knowledge will help us expand our capabilities and allow us to develop new solutions to improve our customer experience,” senior vice president and president of the retail division Barrett Brown said in September.

“They will bring additional strategic guidance to support the continued growth of our retail business.”

Employing more than 16,000 people, Brown & Brown operates in more than 500 locations worldwide.

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