Insurance products and services provider Brown & Brown, Inc. has announced the asset acquisition of Insurance 1, Inc. by one of its subsidiary.

Insurance 1, Inc. focuses on property & casualty, and health & life insurance for individuals and businesses in Louisiana. It will become a specialty division of Brown & Brown's existing Lafayette, Louisiana operation.

The company said the Insurance 1 acquisition along with the Alexander & Bolton acquisition gives it initial annualized revenues of approximately $2 million in Alexandria. However, the company did not disclose the terms of the deal.