Brown & Brown, Inc. Announces the Asset Acquisition of Great Lakes Risk Management, Inc.
July 31 2008 - 11:43AM
Marketwired
DAYTONA BEACH, FL and TAMPA, FL and Benjamin A. "Ben" Goff,
President of Great Lakes Risk Management, Inc., of Toledo, Ohio,
today announced the asset acquisition of Great Lakes Risk
Management, Inc. by a subsidiary of Brown & Brown, Inc.
Great Lakes Risk Management, with annual revenues of
approximately $1 million, provides group health, life, disability
and other employee benefits insurance products and services for
businesses and non-profit organizations throughout Ohio, Michigan
and the upper-midwestern United States. Ben Goff and his staff will
join Brown & Brown's existing Toledo, Ohio profit center under
the leadership of Michael Ross. In his new role, Mr. Goff will lead
the Toledo profit center's new Employee Benefits Department.
Mr. Penny commented, "We are very excited to join forces with
Ben and his team of employee benefits professionals. They are a
welcome addition to our expanding presence in the Buckeye State,
the Wolverine State and the Upper Midwest."
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 seventh largest independent insurance
intermediary in the United States and the ninth largest 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, 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, 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 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
Brown and Brown (NYSE:BRO)
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