Fitzharris Insurance, an independent broker based in Farmingdale with gross annual revenue of more than $6 million, has been sold to a national firm, Brown & Brown.
"Dennis Fitzharris, his brother, Chris, and his son, D.J., have built one of the most respected insurance intermediaries, and one of the premier third-party administrators for public entities, in New York state," Charles H. Lydecker, regional president of Florida-based Brown & Brown Inc., said in a Thursday news release. Terms of the deal were not publicly disclosed.
Fitzharris Insurance's Farmingdale office will become a new stand-alone profit center of Brown & Brown of New York Inc., under the leadership of Dennis Fitzharris Jr.
"We are honored to have them represent Brown & Brown as we continue to deepen our presence and portfolio of products and services in the Empire State," Lydecker said.
The purchase includes substantially all the assets of Fitzharris Agency Inc., Fitzharris & Company Inc., and Fitzharris Administrators Inc., all of Farmingdale.
Fitzharris Insurance handles property and casualty insurance, employee benefits and third-party administrative services to school districts, other public entities, and commercial and individual clients in Long Island and throughout New York state, Brown & Brown said.
Brown & Brown, Inc. said it is ranked by Business Insurance magazine as the country's seventh-largest independent insurance intermediary.