Kelso & Company announced on August 13, 2025, the completion of the $9.83 billion sale of its portfolio company, Accession Risk Management Group, to Brown & Brown, Inc. This transaction represents one of the largest private equity exits in insurance brokerage history.
Accession, a Boston-based national insurance services platform, operates through its subsidiary brands, Risk Strategies and One80 Intermediaries. Under Kelso’s ownership, Accession expanded significantly through over 180 acquisitions, increasing revenue from $130 million to $1.7 billion.
The sale unites two leading insurance distribution businesses, with Accession bringing a highly differentiated business model and a team of approximately 5,500 professionals. This acquisition is expected to create an industry powerhouse and drive continued growth for Brown & Brown.
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