Brown & Brown to Aquire Quintes Holding B.V. in Netherlands – RVBusiness – Breaking RV Industry News
DAYTONA BEACH, Fla. – J. Scott Penny, chief acquisitions officer of Brown & Brown Inc. (NYSE:BRO), Aquiline Capital Partners, Gijsbert van de Nieuwegiessen and the management ownership team of Quintes Holding B.V. (“Quintes”), announced that the parties have entered into an agreement to acquire the Quintes insurance operations. The transaction is expected to close in the fourth quarter of 2024, subject to certain closing conditions, including the receipt of required regulatory approvals for the acquisition.
Quintes was founded in 2012 by Gijsbert van de Nieuwegiessen and is one of the largest independent insurance brokers in the Netherlands. Quintes serves approximately 200,000 customers across its three main divisions: broking, MGA and pension business. Headquartered in Waardenburg, Netherlands, Quintes is composed of approximately 700 insurance professionals operating across 18 locations in the Netherlands.
Quintes will continue to be led by Gijsbert van de Nieuwegiessen, chief executive officer and founder. Following the completion of the transaction, Gijsbert will report to Mike Bruce, chief executive officer of Brown & Brown (Europe) Limited, who also serves as a member of the Brown & Brown, Inc. senior leadership team.
On the transaction, Mike Bruce shared, “Gijsbert and the team at Quintes share our commitment to always doing what is best for customers, teammates and carrier partners. Their position as an industry leader in the Dutch market will further expand our international footprint and broaden the scope of our global capabilities.”
Barrett Brown, executive vice president and president of the Brown & Brown, Inc. Retail segment, shared, “We are very excited to have Gijsbert, Quintes leadership and their talented teammates join Brown & Brown. Their hub structure is closely aligned with our decentralized sales and service business model, and the breadth of their specializations will complement our existing capabilities and drive our continued growth.”
Gijsbert van de Nieuwegiessen stated, “After four successful years of strategic partnership with Aquiline, we have found a forever home in Brown & Brown. Quintes and Brown & Brown are like-minded organizations that share a common culture, values and purpose. For our customers, this move will bring access to additional capabilities, services and solutions, as well as the market strength of a global network. For our Quintes teammates, it will bring opportunities to grow professionally and personally. All of us at Quintes look forward to becoming teammates of an industry-leading and customer-focused group of professionals.”
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 16,000 teammates and 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit bbinsurance.com.
Quintes Insurance & Risk Management is a leading and fast-growing insurance & pension broker and MGA. A solid group of 700 professionals working from 18 local offices spread throughout the Netherlands. Quintes is characterized by short lines of communication, high-quality advice and putting customer interests first. A company in which initiatives are appreciated. For more information or to find an office near you, please visit: www.quintes.nl.
Conference call information
A conference call to discuss this transaction will be held on Wednesday, August 7, 2024, at 8:00 AM (EDT). The Company may refer to a slide presentation during its conference call. You can access the webcast and the slides from the “Investor Relations” section of the Company’s website at www.bbinsurance.com.
If you are unable to listen during the live webcast, audio from the conference call will be archived on Brown & Brown’s website, www.bbinsurance.com, for 14 days after the live broadcast. To access the website replay, go to “Investor Relations” and click on “Calendar of Events.”
