SOURCE: Brown & Brown, Inc.

Brown & Brown, Inc.

March 10, 2011 18:07 ET

Brown & Brown, Inc. Announces the Asset Acquisition of Robert Ellis & Associates, Inc.

DAYTONA BEACH, FL and TAMPA, FL--(Marketwire - March 10, 2011) - C. Roy Bridges, Regional President of Brown & Brown, Inc. (NYSE: BRO), Thomas K. "Tommy" Huval, Regional Vice President of Brown & Brown, Inc. and W. Robert Ellis, President of Robert Ellis & Associates, Inc., located in Mandeville, Louisiana, today announced that Brown & Brown of Louisiana, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the insurance agency assets of Robert Ellis & Associates, Inc.

With annualized revenues of approximately $1.3 million, Robert Ellis & Associates specializes in providing programs of insurance products and services to members of professional associations in Louisiana and Mississippi, including dentists and lawyers. Robert Ellis and his team will continue to operate from their current location in Mandeville, under the leadership of Mark Romero, Executive Vice President of Brown & Brown of Louisiana, Inc. 

Mr. Bridges, who is responsible for Brown & Brown's retail operations throughout Louisiana, commented, "Robert Ellis is a recognized leader in providing tailored insurance products and services to professional groups and associations. We are honored to welcome Bob and his team to Brown & Brown and look forward to their continued growth and success." Mr. Ellis stated, "We are excited about joining Brown & Brown and the opportunities afforded by our new affiliation. Not only will our association with Brown & Brown offer our agency the ability to expand into additional areas in the insurance marketplace; but also, and more importantly, it will provide us with a broader array of member benefits to offer our professional association clients for their endorsement consideration."

Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance and reinsurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States' seventh largest independent insurance intermediary. 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, 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, is 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