SOURCE: Brown & Brown, Inc.

January 25, 2008 08:00 ET

Brown & Brown, Inc. Announces the Acquisition of LDP Consulting Group, Inc.

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - January 25, 2008) - Thomas E. Riley, Regional President of Brown & Brown, Inc. (NYSE: BRO), and Louis E. Della Penna, Sr., CEO of LDP Consulting Group, Inc., today announced the acquisition of LDP Consulting Group, Inc. by Brown & Brown, Inc.

LDP Consulting Group, with annualized revenues of approximately $12.8 million, specializes in serving the employee benefits needs of its clients, especially school districts throughout the Garden State. LDP Consulting Group, with offices in Lambertville, Livingston and Shrewsbury, New Jersey, will be a new freestanding Brown & Brown subsidiary, with Louis E. Della Penna, Sr., Louis E. Della Penna, Jr., and their staff continuing to operate from their existing locations.

Mr. Riley, responsible for operations that include certain Northeastern U.S. locations, stated, "We are quite pleased to have LDP Consulting Group join Brown & Brown's growing New Jersey presence. This agency's talented team of insurance professionals represents another strong addition to our expanding response in serving the employee benefits marketplace."

Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the sixth largest independent insurance intermediary in the United States, as well as in the World. The Company's web address is www.bbinsurance.com.

This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only the current belief of Brown & Brown, Inc. and its subsidiaries (collectively the "Company") regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission. Some factors include those factors relevant to Brown & Brown's consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process, material adverse changes in the customers of the company whose operations are being acquired and material adverse changes in the business and financial condition of either or both companies and their respective customers. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company thereafter becomes aware.

Contact Information

  • Cory T. Walker
    Chief Financial Officer
    (386) 239-7250