Brown & Brown, Inc. Announces Entry Into Accelerated Share Repurchase Program
November 14 2017 - 7:00AM
Brown & Brown, Inc. (NYSE:BRO) (the “Company”) today announced
that it has entered into an accelerated share repurchase program
(ASR) with JPMorgan Chase Bank, National Association, for up to $75
million of the Company's common stock. The ASR is part of the
Company’s board-approved $400 million share repurchase
authorization announced on July 20, 2015.
Brown & Brown, Inc., through its
subsidiaries, offers a broad range of insurance 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, Brown & Brown is ranked by Business Insurance
magazine as the United States’ sixth largest independent insurance
intermediary. Brown & Brown’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 relating to potential repurchases of
our common stock. 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. 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: fluctuations in our stock's market price;
fluctuations in operating results and cash flows; general economic
conditions around the country; downward commercial property and
casualty premium pressures; the effects of legislative and
regulatory changes pertaining to the insurance industry, including
those relating to coastal property coverages; the competitive
environment; and the integration of the Company's operations with
those of businesses or assets the Company has acquired or may
acquire in the future and the failure to realize the expected
benefits of such integration. 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.
R. Andrew WattsChief Financial Officer(386)
239-5770
Brown and Brown (NYSE:BRO)
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