Brown & Brown Inc. ( BRO ) has agreed to acquire RSC Topco Inc., the parent company of Accession Risk Management Group Inc., for $9.825 billion in cash. The deal, one of the insurance industry’s largest this year, is expected to close in the third quarter of 2025.

The agreement will integrate two major insurance firms, Risk Strategies and One80 Intermediaries, into Brown & Brown’s operations, broadening its access to specialty markets and expanding its footprint across North America.

Founded in 1997, Accession is the ninth-largest private insurance brokerage in the U.S., employing more than 5,000 people and generating approximately $1.7 billion in adjusted revenue for 2024.

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The firm is known for its specialized services and customer-focused approach. Its subsidiaries, Risk Strategies and One80 Intermediaries, bring significant retail, wholesale, and program management expertise.

J. Powell Brown, CEO of Brown & Brown ( BRO ), called the merger a strategic alignment of strengths that will expand the firm’s reach and offerings. “We’re confident that together, we can enhance customer relationships and create long-term growth,” Brown said.

Once finalized, Risk Strategies will join Brown & Brown’s Retail segment, while One80 Intermediaries will become part of a newly created Specialty Distribution segment. Leadership roles will include executives from both firms, Steve Boyd, Chris Walker, and Matt Power, as Brown & Brown ( BRO ) consolidates its program and wholesale brokerage operations.

The acquisition is expected to be financially accretive to Brown & Brown’s adjusted diluted net income per share for 2024 and aims to deliver significant shareholder value through revenue and cash flow growth, the company said in a press release.

The deal also positions the company to expand its portfolio of niche insurance solutions and strengthen collaboration with carrier partners. As of March 31, 2025, Brown & Brown ( BRO ) held cash and cash equivalents of $669 million.

Related ETFs: iShares U.S. Insurance ETF ( IAK ) , SPDR S&P Insurance ETF ( KIE ) .

Price Action: BRO shares are trading higher by 0.12% to $107.99 premarket at last check Tuesday.

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