Brown & Brown, Inc. (BRO) announced on December 15 2025 that it has acquired the assets of the J. Kevin Campbell Agency, a Florida‑based workers’‑compensation brokerage founded in 1991. The deal brings the agency’s seasoned team—Kevin Campbell, the agency’s principal, and Kian Ostovar, who has led the Gainesville office since 2004—into Brown & Brown’s retail and workers’‑compensation operations in Tampa, Ocala and Gainesville.
The acquisition adds a network of 700 locations and more than 23,000 professionals to Brown & Brown’s already extensive footprint. The Campbell Agency’s deep knowledge of Florida’s workers’‑compensation market complements Brown & Brown’s broader retail portfolio, which has historically generated the majority of the firm’s revenue. By integrating the agency’s expertise, Brown & Brown aims to enhance its service offering, capture additional commission and fee income, and generate incremental revenue and margin opportunities in a niche line that aligns with its specialty‑line strategy.
Strategically, the transaction supports Brown & Brown’s dual focus on building a decentralized agency network while centralizing back‑office functions. The addition of the Campbell Agency’s experienced staff strengthens the firm’s presence in key Florida markets and provides a ready platform for cross‑selling other insurance products. Management expects the deal to accelerate growth in the workers’‑compensation segment, a line that has historically delivered higher margins than the firm’s core retail business.
Brown & Brown reported a 2024 revenue of $5.34 billion and an operating margin of 27.53 %. While the purchase price was not disclosed, the company indicated that the acquisition is expected to contribute to its ongoing growth strategy and to generate incremental revenue and margin opportunities in the near term. The deal is consistent with Brown & Brown’s history of strategic acquisitions that have added depth to its specialty lines and expanded its geographic reach.
Mike Keeby, senior vice president of the retail segment, said the acquisition “brings a highly respected team with deep expertise in workers’‑compensation to our network.” Kevin Campbell added that the transition “represents a proud moment for the agency, moving from a competitor to a partner in a firm that shares its commitment to client service.”
Social media chatter following the announcement highlighted the firm’s strengthened Florida presence and the potential for growth from the strategic buyout. While no specific market‑reaction data were available, analysts have noted that similar bolt‑on acquisitions by Brown & Brown have historically produced modest average stock‑price movements of about ±1.45 %, suggesting that the market views such deals as incremental.
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