SOURCE: Brown & Brown, Inc.

July 01, 2008 13:08 ET

Brown & Brown, Inc. Announces the Asset Acquisition of Taylor Benefit Services and Neonatal Consultation Services

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - July 1, 2008) - Jim W. Henderson, Vice Chairman and Chief Operating Officer of Brown & Brown, Inc. (NYSE: BRO), and Ronald K. Taylor, President and Chief Executive Officer of Taylor Benefit Services, Inc., of Atlanta, Georgia, today announced the asset acquisition of Taylor Benefit Services and Neonatal Consultation Services, Inc. by a subsidiary of Brown & Brown, Inc.

Taylor Benefit Services provides solutions and consulting services for controlling catastrophic financial risks to health plans across the country. In addition to Taylor Benefit Services' HMO reinsurance and managed transplant programs, Neonatal Consultation Services has developed a proprietary website that can be used as a one-stop resource for case managing high-risk infants.

"We believe the addition of Ron Taylor and his practice will bring us unparalleled expertise to this niche market and add some strong capabilities to help our managed care clients better predict and control their catastrophic risk. We look forward to their active participation in our ongoing growth and continued success," Henderson said.

Taylor added, "We believe joining Brown & Brown will allow us to provide an increased level of service to our customers, while providing our employees with greater opportunities for future growth and rewards."

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 Company's 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, 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