DAYTONA BEACH and TAMPA, Fla., June 1 /PRNewswire-FirstCall/ -- Linda S. Downs, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Sally Lewis-Butler, President, and Harold D. Kelley, Executive Vice President, of Insurance Marketing Group, LLC, of Marietta, Georgia, today announced the asset acquisition of Insurance Marketing Group, LLC, by Brown & Brown, Inc.
Insurance Marketing Group (IMG), with annualized revenues of approximately $1.5 million, is a retail commercial property and casualty insurance agency with a specialized niche of providing insurance products and services for condominium and homeowner associations, primarily in the greater Atlanta metropolitan market area. Sally Lewis-Butler, as Profit Center Manager, Harold Kelley and their staff will continue operating from their existing location as a new Brown & Brown stand-alone operation.
Ms. Downs, who is responsible for Brown & Brown operations in several Southeastern and Mid-Atlantic States, commented that "Sally and Harold and the IMG team have the same client-focused attitude, which is a Brown & Brown hallmark. Their addition represents a very positive development in our strategy for continued growth in the vibrant Atlanta market. We are quite pleased to welcome this dedicated team to our growing family of insurance professionals."
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, employee benefit administration, and managed health care programs. Providing service to business, public entity, individual and trade and association clients nationwide, the Company is ranked by Business Insurance magazine as the United States' sixth largest independent insurance intermediary. Our 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: general economic conditions around the country; downward commercial property and casualty premium pressures; the competitive environment; 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; the potential occurrence of a disaster that affects certain areas of the States of Arizona, California, Florida, New Jersey, New York and/or Washington, where significant portions of the Company's business are concentrated; the actual costs of resolution of contingent liabilities; and 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, material adverse changes in the business and financial condition of either or both companies and their respective customers, and substantial delay in the expected closing of the transaction. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
SOURCE Brown & Brown, Inc.
-0- 06/01/2004
/CONTACT: Cory T. Walker, Chief Financial Officer, Brown & Brown, Inc.,
+1-386-239-7250/
/Web site: http://www.bbinsurance.com /
(BRO)
CO: Brown & Brown, Inc.; Insurance Marketing Group, LLC
ST: Florida, Georgia
IN: INS
SU: TNM
MR-KW
-- FLTU019 --
2679 06/01/2004 11:53 EDT http://www.prnewswire.com