DAYTONA BEACH, Fla. and TAMPA, Fla., Jan. 2 /PRNewswire/ -- J. Hyatt Brown, Chairman, President and CEO of Brown & Brown, Inc. (NYSE: BRO), and R. Steven Ayers, President of Ayers/Sierra Insurance Associates, LLP, with offices in Tampa and St. Petersburg, Florida, today announced the merger of the operations of Ayers/Sierra Insurance Associates, LLP, into Brown & Brown, Inc. The transaction was effective January 1, 2001.
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Ayers/Sierra has been serving a broad range of clients across the Tampa Bay region for forty years. Now specializing in large commercial accounts, Steve Ayers and his staff will soon be combining their Tampa and St. Petersburg operations with Brown & Brown's existing Tampa office.
Roy Bridges, Brown & Brown Regional Executive Vice President responsible for Florida West Coast operations, commented, "We are very pleased to have Steve and his very knowledgeable team of insurance professionals join our expanding Florida presence. Their addition brings us broadened expertise and new opportunities."
Brown & Brown, Inc. provides a broad range of insurance products and services, as well as risk management, employee benefit administration, and managed health care services through offices located across the United States. The company is ranked by Business Insurance magazine as the nation's ninth largest independent insurance intermediary organization. The Web address is www.brown-n-brown.com.
This press release may contain certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors such as general economic conditions around the country, fluctuations in equity and fixed income markets, downward commercial property and casualty premium pressures, the competitive environment, the potential occurrence of a major natural disaster in certain areas of the State of Florida, where the company's business is concentrated, the actual costs of resolution of contingent liabilities, and those factors relevant to Brown & Brown's integration of acquisitions, including any material adverse changes in the customers of the company whose operations are being acquired and/or any material adverse changes in the business and financial condition of either or both companies and their respective customers. 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.
SOURCE Brown & Brown, Inc.
Web site: http: //www.brown-n-brown.com
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CONTACT: Cory T. Walker, Chief Financial Officer, Brown & Brown, 904-239-7250
CAPTION: BROLOGO BROWN & BROWN LOGO Brown & Brown, Inc. logo. (PRNewsFoto)[HD] DAYTONA BEACH AND TAMPA, FL USA 10/03/2000