DAYTONA BEACH, FL and TAMPA, FL, Nov 02, 2010 (MARKETWIRE via COMTEX) --
J. Scott Penny, Regional President of Brown & Brown, Inc. (NYSE: BRO), and James G. Rogers, Alexander Uyt den Bogaard and Tracy L. Johnson, shareholders of Rogers & Norman, Inc. of Seattle, Washington, today announced the acquisition of substantially all of the assets of Rogers & Norman, Inc. by Brown & Brown of Washington, Inc., a subsidiary of Brown & Brown.
Established in 1956, and with annual revenues of approximately $3.2 million, Rogers & Norman offers insurance products and services to businesses and individuals throughout the greater Seattle metropolitan area. The Rogers & Norman team will initially remain at their current location in downtown Seattle and will ultimately join the existing downtown Seattle office of Brown & Brown of Washington, Inc., under the leadership of Eric Anderson.
Mr. Penny, who is responsible for Brown & Brown's retail operations in the State of Washington, commented, "Rogers & Norman is a highly-skilled team of insurance professionals that is well respected, and intricately involved, in the Seattle community. We are honored to have people of such quality and integrity join our Seattle operations and help us continue to grow our presence in Seattle and throughout the Pacific Northwest." Mr. Rogers commented, "We are extremely pleased that this transaction will provide our great Rogers & Norman team with additional resources so we can continue our 54-year history of bringing safety, security and comfort to the lives of our customers."
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.
Cory T. Walker Chief Financial Officer (386) 239-7250
SOURCE: Brown & Brown, Inc.