Brown & Brown, Inc. Announces the Asset Acquisition of Alliance Insurance Services
August 01 2005 - 5:51PM
PR Newswire (US)
Brown & Brown, Inc. Announces the Asset Acquisition of Alliance
Insurance Services DAYTONA BEACH, Fla. and TAMPA, Fla., Aug. 1
/PRNewswire-FirstCall/ -- Kenneth D. Kirk, Regional Executive Vice
President of Brown & Brown, Inc. (NYSE:BRO), and William A.
"Bill" White, President of AAI, Inc. d/b/a Alliance Insurance
Services, of Canoga Park, California, today announced the asset
acquisition of Alliance Insurance Services by Brown & Brown,
Inc. Alliance Insurance Services, with annualized revenues of
approximately $1.2 million, is a commercial property and casualty
insurance agency that has been serving the insurance needs of
clients for over 20 years, specializing in workers compensation
coverages. Bill White and his staff will continue to serve their
clients as a new Brown & Brown stand-alone operation. Ken Kirk
commented, "We are very pleased to have Bill and his team join our
rapidly expanding Western Region. We look forward to their input
and expertise as we continue to grow throughout the Golden State."
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. DATASOURCE: Brown & Brown, Inc.
CONTACT: Cory T. Walker, Chief Financial Officer of Brown &
Brown, Inc., +1-386-239-7250 Web site: http://www.bbinsurance.com/
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