DAYTONA BEACH and TAMPA, Fla., Dec 01, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Kenneth D. Kirk, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and James A. "Jim" de Arietta, President of de Arrieta Insurance Agency, Inc., with offices in Carson City and Elko, Nevada, today announced the asset acquisition of de Arrieta Insurance Agency, Inc. by Brown & Brown, Inc.
de Arrieta Insurance Agency, with annualized revenues of approximately $2 million, is a retail insurance agency which serves the general commercial property and casualty and personal insurance needs of a wide range of clients throughout Nevada and surrounding states. Jim de Arrieta, along with Billie Jean "Cissie" McMenamy, acting as Profit Center Manager, will continue to operate the agency in its existing locations as a new freestanding Brown & Brown profit center.
Mr. Kirk, responsible for operations in the Western United States, noted, "We are very pleased to have Jim de Arrieta and Cissie McMenamy, and their staff join Brown & Brown's growing Nevada presence. This talented team of insurance professionals provides us with expanded resources and service capabilities."
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, and managed health care programs. Providing service to 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 http://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.
SOURCE Brown & Brown, Inc.
Cory T. Walker, Chief Financial Officer, Brown & Brown, Inc., +1-386-239-7250
http://www.prnewswire.com