Brown & Brown Inc. has announced plans to acquire Accession Risk Management Group, the parent firm of specialty brokerage Risk Strategies and wholesale distributor One80 Intermediaries, for approximately $9.8 billion.

Based in Daytona Beach, Florida, Brown & Brown will be purchasing RSC Topco Inc., the Boston-headquartered holding company for Accession—currently one of the largest privately owned insurance brokerages in the United States.

Risk Strategies ranked 11th on Insurance Journal’s 2024 list of Top 100 Property/Casualty Agencies.

Upon the deal’s expected completion in the third quarter of 2025, Risk Strategies will be integrated into Brown & Brown’s retail division. John Mina, CEO of Accession, is set to join the senior leadership team within the retail segment.

In addition, Brown & Brown plans to establish a new specialty distribution division to include its programs and wholesale brokerage services. This new unit will be led by Steve Boyd and Chris Walker, and One80 Intermediaries will become part of the group. Matt Power will assume a leadership role within the newly formed segment.

Founded in 1997, Accession has over 5,300 employees across the United States and Canada and generated approximately $1.7 billion in revenue in 2024. Risk Strategies’ 2024 placement on Insurance Journal’s Top 100 P/C Agencies reported about $1.3 billion in property/casualty revenue. The company’s total written premium for the year reached $8.55 billion, with $7.8 billion from commercial lines.

“Joining forces with Risk Strategies and One80 gives us an exceptional opportunity to combine strengths and expand our growth trajectory,” said J. Powell Brown, president and CEO of Brown & Brown, in a statement released on June 10.

He added, “The businesses built by Mike Christian and John Mina on the retail side, and by Matt Power in the wholesale and program space, offer capabilities that complement and enhance what we already do. Integrating their expertise with Brown & Brown will allow us to expand our market access and customer offerings in a meaningful way. Together, we’ll be even stronger.”

Reflecting on the decision to partner with Brown & Brown, Mina said, “When we started looking at our next major chapter, it was critical that any potential partner be fully aligned with our goals—to grow, innovate, lead, and uphold the values that define our culture. Brown & Brown checks all those boxes.”

With nearly $4.3 billion in revenue, Brown & Brown is the seventh largest insurance brokerage globally, according to AM Best’s 2024 rankings. The acquisition aligns with a wave of recent consolidation activity among the world’s top brokers.

Arthur J. Gallagher recently agreed to buy AssuredPartners for $13.45 billion in cash to strengthen its U.S. middle-market presence. Gallagher’s deal follows two other major transactions in the space: Marsh McLennan’s $7.75 billion acquisition of McGriff Insurance Services in November 2024 and Aon’s $13 billion purchase of NFP in April 2025.

Earlier in 2025, Gallagher also finalized the acquisition of Woodruff Sawyer for $1.2 billion.

Despite these blockbuster deals, M&A activity in the insurance sector slowed during the first quarter of 2025. According to investment bank OPTIS Partners, Q1 was the slowest for insurance agency M&A since Q2 2020. However, the firm suggested that Gallagher’s acquisition of Woodruff Sawyer could mark the beginning of a new surge in large-scale transactions this year.