By Isha Marathe

Feb 4 - (The Insurer) - Bridge Specialty Group, the wholesale broking division of Brown & Brown, has entered into an agreement to acquire Nationwide Property & Casualty $(NBS.UK)$ Insurance Agency based in Columbus, Ohio, in a deal expected to close in March 2025.

The financial terms of the transaction were not disclosed. The agreement only includes NBS Insurance Agency and no other Nationwide affiliated companies.

NBS will continue to operate as a national platform led by its president, Ted Stuckey, who will report to Anurag Batta, COO of Bridge Specialty Group.

“NBS has served as a wholesaler and market access provider for retail agents for more than 50 years, providing superior service to their customers and retail broker partners," said Steve Boyd, president of Bridge Specialty.

"The addition of the NBS business to our operation will bring added specialization and complement our existing capabilities.”

Mark Berven, president and COO of Nationwide Property & Casualty, commented: “Nationwide and Bridge Specialty Group have had a strong working relationship for many years. Through our discussions, we determined there was a shared opportunity to enhance both of our organizations through a strategic transaction. With its tools, resources and strong global market presence, BSG is well positioned to drive the growth of NBS going forward.”

In December 2024, Bridge Specialty acquired the Wisconsin-based specialty wholesale environment insurance brokerage platform American Risk Management Resources Network.