SOURCE: Brown & Brown, Inc.

May 01, 2008 19:03 ET

Brown & Brown, Inc. Announces the Asset Acquisition of Nathan Stone Insurance Agency, Inc.

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - May 1, 2008) - Kenneth D. Kirk, Regional President of Brown & Brown, Inc. (NYSE: BRO), and Victoria Stone Hartvig, principal in the Nathan Stone Insurance Agency, Inc. of Encino, California, today announced the asset acquisition of Nathan Stone Insurance Agency, Inc. by a subsidiary of Brown & Brown, Inc.

Nathan Stone Insurance Agency, Inc. d/b/a Stone, Harris & Stone, with annualized revenues of approximately $3.0 million, is a retail insurance agency serving businesses and individual clients throughout the State of California. Victoria Stone Hartvig and her staff will continue to operate from their existing Encino, California, location as a freestanding Brown & Brown of California, Inc. office under the fictitious name of Stone, Harris & Stone.

Mr. Kirk commented, "Victoria and her staff are a welcome addition to our presence in California. We are very excited to have this fine group of insurance professionals join Brown & Brown."

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

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