Brown & Brown, Inc. Enters into an Agreement to Acquire Quintes Holding B.V.
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., Aquiline Capital Partners, Gijsbert van de Nieuwegiessen and the management ownership team of Quintes Holding B.V. (“Quintes”), today announced that the parties have entered into an agreement to acquire the Quintes insurance operations. The transaction, which is subject to regulatory approval, is expected to close in the fourth quarter of 2024.
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 said: “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.”
He added: This is a particularly important transaction for Brown & Brown (Europe), being the first significant European Retail investment outside of the UK & Ireland, and underscores our desire to harness the entrepreneurial, owner-driven culture within Quintes with our own decentralised sales and service business model.”
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. The breadth of their specialisations will complement our existing capabilities and drive our continued growth.”
Gijsbert van de Nieuwegiessen stated, “Brown & Brown and Quintes are like-minded organisations, sharing 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.”
He continued: “We have had four successful years of partnership with Aquiline, and now becoming part of Brown & Brown (Europe) enables a ‘forever company' perspective, which creates untapped opportunities for growth and the capability for strategic investment in our people and infrastructure. Quintes customers will also benefit from Brown & Brown’s long-established and valued relationships with US and European insurers.”