SOURCE: Brown & Brown, Inc.

March 04, 2008 15:45 ET

Brown & Brown, Inc. Announces Launch of Decus Insurance Brokers, Limited, a London-Based Wholesale Brokerage Operation

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - March 4, 2008) - Anthony T. Strianese, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), today announced the opening of a London-based wholesale brokerage, Decus Insurance Brokers, Limited ("D.I.B.") effective 1 March 2008.

D.I.B. is Brown & Brown's first operation based outside of the United States. D.I.B.'s goal is to act as a traditional UK-based insurance intermediary for the distribution of non-investment insurance contracts throughout North America. Its four divisions will be Property Brokerage, Casualty Brokerage, Professional Liability Brokerage, and Binding Authority Programs. Anthony T. ("Tony") Strianese has been appointed Chief Executive Officer with Amy C. Ranieri as Chief Operating Officer and Melanie Y. ("Mel") Alexander as Managing Director. Mr. Strianese and Mrs. Ranieri are currently senior members of the North American team of Peachtree Special Risk Brokers, LLC (PSR), and Mrs. Alexander brings nearly three decades of experience in the London marketplace specializing in binding authority contracts.

Mr. Strianese founded PSR together with Brown & Brown in 2000 and today this wholesale brokerage operation produces over US$20,000,000 in annual net commission revenues. Mrs. Ranieri, a CPA, began her tenure with Brown & Brown as a member of the internal audit team, and was soon promoted to Director of Internal Audit. She transitioned into the Wholesale Brokerage Division two years ago and has evolved into one of PSR's leading brokers.

Mrs. Alexander specializes in mortgage-impairment and lender-placed binding authorities, and has played an equally important part in the development of general classes of business. Mr. Strianese stated, "We are particularly happy that Mel has agreed to lead our introduction to London. She is an integral part of our future plans." D.I.B. is equally delighted to announce that Mrs. Alexander is joined by four experienced team members; Chris Hatt, Trevor Larwood, Richard Bowers and Catriona McKay.

With respect to the creation of D.I.B. and its overall strategy, Mr. Strianese stated, "We view everything we do as a marathon rather than a sprint. We have a long-term vision for this venture, and are ready to begin operations and build a solid foundation for future growth. It's a very exciting opportunity for Brown & Brown, our customers and our business partners."

This press release may contain certain statements relating to future results which are forward-looking statements, including those relating to the establishment, development and operation of a location outside the United States. 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, financial condition and achievements may differ, possibly materially, from the anticipated results and achievements contemplated by 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 risks regarding: the Company's ability to successfully establish, operate and expand its foreign operations now and in the future and to realize the expected benefits of such operations; the establishment of international operations and successfully operation in the local business environment in compliance with legal and other restrictions specific to a foreign jurisdiction; general economic conditions around the country and abroad; downward commercial property and casualty premium pressures; the competitive environment; and the integration of the Company's operations with those of businesses or assets the Company has acquired or may acquire in the future and the failure to realize the expected benefits of such integration. 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.

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.

Contact Information

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