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Smith Brothers merges with New Jersey-based brokerage

Smith Brothers Insurance has merged with Haddonfield, N.J.-based Widerman & Co. Insurance, Insurance Journal reported Aug. 9.

Terms of the deal were not disclosed. Smith Brothers President and CEO Joe Smith said the company is poised to benefit from Widerman & Co.'s knowledge of captive funding facilities and healthcare practice, according to the report.

Widerman & Co. will operate as an affiliate of the Glastonbury, Conn.-based company, and will continue to work out of its current New Jersey location.

Bob Widerman will continue to work on Widerman & Co.'s client service, business development and expansion through M&A, according to the report. Shawn Knechtel will lead the New Jersey region, overseeing executive leadership and strategic direction of growth.