Brown & Brown, Inc. Completes the Acquisition of AGA Insurance
January 07 2008 - 4:22PM
Marketwired
DAYTONA BEACH, FL and TAMPA, FL and McLain, Peeples &
Strickland, Inc., doing business as AGA Insurance in Alpharetta,
Georgia, today announced the consummation of the previously
announced acquisition by a subsidiary of Brown & Brown, Inc. of
AGA Insurance.
AGA Insurance, with annualized revenues of approximately $1.7
million, is a full-line retail commercial insurance agency with
business concentrated in the greater Alpharetta area and throughout
the State of Georgia. The agency has been serving the needs of
hundreds of businesses and households for over 60 years and
specializes in serving the unique insurance needs of churches,
church schools and related ministries. The agency will continue to
operate from its current location as a satellite office of the
existing Atlanta area retail office of Brown & Brown Insurance
of Georgia, Inc., located in Duluth, Georgia.
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, managed health care, and
Medicare set-aside services and programs. Providing service to
business, public entity, individual, trade and professional
association clients nationwide, the Company is ranked by Business
Insurance magazine as the sixth largest independent insurance
intermediary in the United States, as well as in the World. 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. These
statements are not historical facts, but instead represent only the
current belief of Brown & Brown, Inc. and its subsidiaries
(collectively the "Company") 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.
Contact: Cory T. Walker Chief Financial Officer (386)
239-7250
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