DAYTONA BEACH, Fla., July 24, 2023 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. ( NYSE: BRO ), and Ralf H. "Goober" Schaarschmidt II and Todd Wood, the owners of New England Excess Exchange (" NEEE "), today announced that Bridge Specialty Group has entered into an agreement to acquire the assets of NEEE. The transaction is expected to close in August 2023, subject to certain closing conditions. Established in 1981 in Vermont, NEEE has grown to become a leading wholesale MGA providing commercial and personal lines insurance solutions for qualified independent retail brokers throughout New England, Tri-State and Mid-Atlantic regions. With a focus on hard-to-place risks and leveraging technology, NEEE is committed to providing best-in-class coverage options and impeccable customer service.