DAYTONA BEACH, Fla. — Brown & Brown of Kentucky, a subsidiary of Brown & Brown Inc., this week announced the acquisition of F&I Resources, an income development company serving dealers in the Northeast and Mid-Atlantic states. Terms of the transaction were not disclosed.
According to the announcement, the F&I Resources team, including Principals Jason Bayko and Bob Hunter, will become part of Brown & Brown’s auto, RV, and powersports practice, which operates under the leadership of Mike Neal, president of the company’s Brown & Brown Kentucky subsidiary.
“Jason and Bob have grown F&I Resources to be a best-in-class operation delivering sales performance training and warranty insurance products for their dealer partners,” said Neal. “The F&I Resources team will provide additional expertise to our growing platform in this space and establish a base for operations in the Northeast. We are confident that this will complement and enhance our existing operations.”
F&I Resources was founded in 1993 as a provider of F&I sales training and F&I products. The firm generates $10.5 million in annual revenue and serves dealers in the Northeast and Mid-Atlantic states.
Through its subsidiaries, Brown & Brown Inc. offers a range of insurance products and related services, including risk management and third-party administration. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the sixth largest independent insurance intermediary in the United States.
“I could not be more excited to become a part of Brown & Brown and their sales culture,” said Bayko. “We are now well positioned to grow by having access to additional insurance products, giving us a unique value proposition for our dealer partners.”
Hunter added: “Brown & Brown’s culture, which is focused on clients and teammates, is a perfect match for us. Joining our company with Brown & Brown will provide us the opportunity to enhance our relationships with our valued customers through additional product offerings and training. I want to take this time to thank our dedicated, talented and long-term team members and our clients for their past and continued support.”