Brown & Brown, Inc. Announces the Completion of the Acquisition of Comcover Insurance Group, Inc.
January 11 2011 - 8:59AM
Marketwired
Brown & Brown, Inc. (NYSE: BRO) and Comcover Insurance Group,
Inc., of Dania, Florida, today announced the consummation of the
previously announced asset acquisition of Comcover Insurance Group,
Inc. by Brown & Brown of Florida, Inc., a wholly owned
subsidiary of Brown & Brown, Inc.
Comcover specializes in products and services tailored to
clients in the wholesale, distribution, manufacturing, lumber and
building materials, transportation, and commercial property
ownership and development industries, among other industries.
Anthony Johnson and his staff will join Brown & Brown of
Florida's existing Fort Lauderdale and Miami Lakes, Florida profit
centers, under the leadership of Michael Keeby and Colin Lowe,
respectively.
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
Brown and Brown (NYSE:BRO)
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