Brown and Brown of Florida has announced the purchase of some of the assets of the BenTrust Insurance Group, which provides retail insurance products throughout Florida.
BenTrust was founded by Frank Carreras in 1999 and has annual revenues of approximately $4.0 million. The BenTrust team will remain in its current Miami location as a branch of Brown & Brown's existing Miami operations and will be managed by Vince Castro, BenTrust's existing chief marketing officer. The combined offices will operate under the leadership of Fausto Alvarez, Jr., executive vice president of Brown & Brown of Florida.
Charles H. Lydecker, who oversees Brown & Brown's retail operations in Florida, said, "BenTrust has achieved its success with customized, client-focused insurance solutions for individuals and businesses in Miami and beyond. We believe the transaction will enable the combined offices to offer a wider variety of products to their respective clients, and we're delighted to welcome such a talented group of insurance professionals to our growing South Florida team."
Vince Castro commented, "This partnership with Brown & Brown is a win for our clients and our employees. BenTrust looks forward to continuing its tradition of providing high-quality, objective-driven service to its customers, but will now do so with the enhanced strength and resources of a large, national organization."
