Brown & Brown of Kentucky Inc., a subsidiary of Brown & Brown Inc., has acquired substantially all of the assets of Dealer Associates Inc., according to J. Scott Penny, chief acquisitions officer of Brown & Brown Inc. and Tony Fincannon and Rick Messinger, the principals of DAI.
Since 1990, DAI has provided a broad range of F&I Products, coupled with F&I, sales and service training, financial performance consulting, and reinsurance management services for auto dealers in Texas and other states around the country.
DAI has annual revenues of about $8.5 million. Fincannon, Messinger and the DAI team will join the Brown & Brown Dealer Services practice, which operates under the leadership of Mike Neal, president of Brown & Brown of Kentucky Inc.
“DAI has been an industry leader in F&I Income Development since inception, and Tony is a recognized industry leader on dealer reinsurance and other participation structures designed to maximize profit and performance,” Neal said. “As we continue to grow our Brown & Brown Dealer Services team, we are confident that DAI provides a solid base in the Southwest to grow from and adds valuable expertise to the team.”
Fincannon stated, “As we looked for new and game changing opportunities to help our dealer clients grow their business we found Brown & Brown to be a perfect fit culturally for our company. Now, we can bring additional insurance products and solutions to help dealers maximize profitability. We are extremely excited to be a part of the Brown & Brown team!”
Rick Messinger added, “Having the opportunity to bring employee benefit, liability and other coverage options needed by dealers to run their businesses cost effectively will make our agency a stronger presence in the automotive space. That opportunity coupled with Brown & Brown’s teammate-based culture was the catalyst for our decision.”
Brown & Brown, through its subsidiaries, offers a broad range of insurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary.