Brown & Brown, Inc. BRO has agreed to buy Global Risk Partners Limited (GRP). Pending the fulfillment of closing conditions, including the approval of the Financial Conduct Authority of the United Kingdom, the transaction is expected to be closed in the third quarter of this year. The buyout will help the acquirer expand its international footprint.Headquartered in London and founded in 2013, GRP is one of the United Kingdom’s largest independent insurance intermediaries. With annualized revenues of $340 million, GRP’s operations include retail broking, specialist MGA, network and Lloyd's businesses, catering to the growing insurance and risk management needs of personal and commercial customers.The addition of GRP will strengthen the acquirer’s presence in the United Kingdom and Ireland, accelerate growth on a global scale and expand market relationships per BRO’s management.Brown & Brown and its subsidiaries continuously make strategic acquisitions to expand globally, add capabilities and boost operations. Also, these strategic buyouts help Brown & Brown increase commissions and fees, which, in turn, drive revenues. This is the third agreement the acquirer has inked so far this quarter and closed one buyout.Brown & Brown’s impressive growth is driven by organic and inorganic means across all segments. Also, strategic acquisitions and mergers help it spread its operations. The insurance broker closed 19 acquisitions with annual revenues of approximately $132 million last year. Brown & Brown intends to make consistent investments in boosting organic growth and margin expansion. Its solid earnings have allowed the company to expand its capabilities, with the buyouts extending the company’s geographic footprint.Consistent operational results have been aiding this Zacks Rank #3 (Hold) insurance broker in generating solid cash flows for deployment in strategic initiatives. It has maintained a strong liquidity position, with nearly $0.9 billion of cash and cash equivalents.Given the insurance industry’s adequate capital level, players like Arthur J. Gallagher & Co. AJG and Aon plc AON are pursuing strategic mergers and acquisitions.Arthur J. Gallagher acquired Romford, Essex-based Devitt Insurance Services in the United Kingdom. The acquirer’s impressive inorganic story features a strong merger and acquisition pipeline with about $200 million revenues associated with nearly 35 term sheets either agreed upon or being prepared.Aon purchased the actuarial software platform Tyche to boost its insurance consulting capabilities for clients. AON spent $14 million on buyouts last year and has sealed many acquisition deals over the past few years. Its acquisitions mainly aim at expanding its health and benefits business, flood insurance solutions, and risk and insurance solutions operations.Stock to ConsiderA better-ranked stock from the insurance space is Cincinnati Financial Corporation CINF, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The bottom line of Cincinnati Financial surpassed estimates in each of the last four quarters, the average being 38.48%. The Zacks Consensus Estimate for Cincinnati Financial’s 2022 and 2023 earnings has moved 5.7% and 5.5% north, respectively, in the past 30 days.Price PerformanceShares of CINF have gained 5.1% year to date while that of BRO, AJG, AON have lost 5.8%, 8.9% and 4.1% respectivey in the same time frame. Image Source: Zacks Investment Research Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cincinnati Financial Corporation (CINF): Free Stock Analysis Report Aon plc (AON): Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research