Brown & Brown, Inc. acquires the assets of The Protectorate Group Insurance Agency, Inc., doing business as American Adventure Insurance
Rhea-AI Summary
Brown & Brown (NYSE:BRO) announced on Feb 17, 2026 that Brown & Brown Dealer Services (BBDS) has acquired the assets of The Protectorate Group Insurance Agency, doing business as American Adventure Insurance.
American Adventure’s team and dealer-focused product suite (serving 1,500+ dealerships) will join BBDS and operate nationwide, with Paul Bender reporting to BBDS president Mike Neal. Brown & Brown cited customary integration and due-diligence risks.
Positive
- Adds network of more than 1,500 dealerships
- National expansion of BBDS dealer insurance capabilities
- Experienced leadership: Paul Bender with 30+ years joins BBDS
Negative
- Integration and due-diligence risks tied to the announced acquisition
- Transaction terms and purchase price not disclosed in the announcement
Key Figures
Market Reality Check
Peers on Argus
BRO was down 1.52% pre-news while key peers showed mixed moves: WTW +1.67%, AJG +1.12%, AON +1.18%, ERIE -1.30%, MMC -1.36%, suggesting stock-specific factors rather than a unified sector move.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 15 | Asset acquisition | Positive | +0.9% | Acquisition of J. Kevin Campbell Agency adding workers’ compensation expertise in Florida. |
| Aug 12 | Asset acquisition | Positive | +1.2% | BBDS acquisition of Tire Shield to broaden dealer services and GAP waiver offerings. |
| Aug 01 | Platform acquisition | Positive | +0.9% | Completion of Accession Risk Management Group acquisition, expanding brokerage scale. |
| Jun 10 | Large acquisition deal | Positive | -2.2% | Agreement to acquire Accession for $9.825B in a cash and debt-free transaction. |
| Dec 10 | Asset acquisition | Positive | -2.6% | Bridge Specialty Group acquisition of ARMR to bolster environmental insurance platform. |
Over the last 5 acquisition-related releases, BRO’s average one-day move was -0.35%, with generally modest price reactions and a mix of small gains and declines around both bolt-on and larger platform deals.
Recent acquisition activity shows Brown & Brown consistently using M&A to add capabilities and scale. In December 2025, it bought the J. Kevin Campbell Agency to deepen workers’ compensation expertise in Florida. Earlier in 2025, it acquired Tire Shield to expand dealer services and completed the large Accession Risk Management Group transaction after announcing that deal on June 10, 2025. In December 2024, Bridge Specialty Group added ARMR, strengthening environmental insurance. Today’s American Adventure transaction fits this ongoing bolt-on expansion pattern in dealer-focused offerings.
Historical Comparison
In the past 5 acquisition headlines, BRO’s average one-day move was -0.35%, indicating typically modest, mixed reactions to M&A updates of varying size and scope.
Acquisition history shows a progression from niche bolt-ons (workers’ comp, environmental, dealer services) to a major platform deal with Accession, steadily expanding Brown & Brown’s capabilities and geographic reach.
Market Pulse Summary
This announcement details Brown & Brown Dealer Services’ acquisition of American Adventure, adding an on-the-lot insurance provider with a network of more than 1,500 dealerships. The move continues a multi-year acquisition strategy that has included both niche bolt-ons and larger platform deals like Accession. Investors may watch how effectively BBDS integrates American Adventure, leverages its dealer relationships, and maintains service quality across Brown & Brown’s 700+ locations and 23,000+ professionals.
Key Terms
f&i products financial
forward-looking statements regulatory
due diligence process financial
AI-generated analysis. Not financial advice.
DAYTONA BEACH, Fla., Feb. 17, 2026 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Paul Bender, the owner of The Protectorate Group Insurance Agency, Inc., doing business as American Adventure Insurance (“American Adventure”), today announced that Brown & Brown Dealer Services (“BBDS”) has acquired the assets of American Adventure.
American Adventure specializes in providing insurance solutions at the dealership for all types of vehicles, including motor homes, travel trailers, campers, boats, personal watercrafts, motorcycles and more. American Adventure also provides F&I products to automotive dealers and commercial insurance solutions. American Adventure is led by Paul Bender, who has over 30 years of experience partnering with dealers to provide on-the-spot insurance products for their customers. The American Adventure team will join Brown & Brown Dealer Services and continue to operate nationwide. Paul and the team will report to Mike Neal, president of BBDS.
Mike Neal, president of BBDS, stated, “Paul is a recognized authority in enabling his dealer partners by providing best-in-class insurance products for their shared customers. The American Adventure team will expand and enhance BBDS's capabilities and provide us with additional innovative solutions for our dealers across the country. We look forward to Paul and the team joining Brown & Brown.”
Paul Bender said, “I’ve been building this dealer-centric model since 1992, American Adventure is what that original DNA looks like today—move quickly, take care of dealers and their customers. Our network of more than 1,500 dealerships, combined with Brown & Brown’s depth of products and expertise, gives our people and partners a platform built to help us scale without losing our edge, and I couldn’t be more excited to build the next chapter with Mike and the BBDS team.”
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm delivering comprehensive and customized insurance solutions and specialization since 1939. With a global presence spanning 700+ locations and a team of more than 23,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at bbrown.com.
This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.
For more information:
R. Andrew Watts
Chief financial officer
(386) 239-5770
FAQ
What did Brown & Brown (BRO) announce on Feb 17, 2026 about American Adventure Insurance?
How many dealerships does American Adventure bring to Brown & Brown (BRO)?
Will Paul Bender join Brown & Brown after the acquisition of American Adventure (BRO)?
Does the Feb 17, 2026 Brown & Brown (BRO) release disclose the purchase price for American Adventure?
What risks did Brown & Brown (BRO) highlight about the American Adventure acquisition?
