SOURCE: Brown & Brown, Inc.

Brown & Brown, Inc.

February 12, 2010 09:58 ET

Brown & Brown, Inc. Announces the Acquisition of Medical Settlement Protocols, LLC

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - February 12, 2010) - Sam R. Boone, Jr., Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Robert L Sagrillo, principal of Medical Settlement Protocols, LLC (or "Protocols"), today announced the acquisition of substantially all the assets of Protocols by a subsidiary of Brown & Brown, Inc.

Protocols, with annual revenues of approximately $4 million, is a national provider of Medicare set-aside services, including Medicare Secondary Payer statute compliance-related services, Medicare cost allocation projections, claims resolution services, custodial account administration and consulting services, primarily in the area of workers' compensation and personal injury claims. Robert Sagrillo and his staff will continue to operate under the Protocols name from their existing office in Lakewood, Colorado.

Mr. Boone, who is responsible for the services operations of Brown & Brown, commented, "Protocols is a recognized leader and pioneer in the Medicare compliance industry. We are pleased that Robert and the other talented members of the Protocols team are joining Brown & Brown to help us increase our presence and depth in this space." Mr. Sagrillo remarked, "Everyone at Protocols is excited and honored to become part of the Brown & Brown family of companies. We are looking forward to the opportunities that lie ahead."

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, and 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. The Company's Web address is

This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts, but instead represent only the Company's current belief 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 and condition, as well as its other achievements, 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 made herein are made only as of the date of this 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 hereafter becomes aware.

Contact Information

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