Brown & Brown, Inc. Announces the Acquisition of Professional Disability Associates, LLC
July 16 2018 - 6:45AM
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown,
Inc. (NYSE:BRO), and Al Helmond, Kevin Riley and Don Abbott,
principals of Professional Disability Associates, LLC (“PDA”),
today announced that The Advocator Group, LLC, a wholly owned
subsidiary of Brown & Brown, Inc., has acquired PDA.
PDA is an innovative disability services company
and industry leader providing specialty claims management services,
including medical file review, vocational services, and claim
consulting, to major disability insurers, reinsurers and
self-insured employers. PDA has annual revenues of
approximately $15,000,000. The PDA team will continue to
operate from their offices in Portland, Maine, as Professional
Disability Associates, LLC, under the leadership of Al Helmond and
Kevin Riley. PDA leadership will report to Julie Turpin,
Chief Executive Officer of The Advocator Group.
Julie Turpin stated, “Like The Advocator Group,
Al, Kevin and the PDA team have built a strong presence founded in
expertise, sharing business insights and close relationships with
clients. This partnership will allow both organizations to
deliver service that drives deep and sustained value into carrier,
customer and client relationships.”
Al Helmond stated, “We have a great level of
respect for The Advocator Group. With the resources that The
Advocator Group can make available to us, the PDA team will be able
to further enhance the services we provide to our clients. We
could not be more excited about this new partnership.”
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, 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.
The Advocator Group, LLC is a nationwide
advocacy organization dedicated to helping individuals apply for
and obtain Social Security Disability Insurance. In addition, The
Advocator Group assists Medicare beneficiaries in identifying the
best coverage possible for their unique needs. The company’s core
values include creating opportunities, enriching lives, and growing
through innovation. For more information,
visit http://www.advocator.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
Brown & Brown’s current belief regarding future events, many of
which, by their nature, are inherently uncertain and outside of
Brown & Brown’s control. It is possible that Brown &
Brown’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 Brown & Brown and its business, including factors
that potentially could materially affect Brown & Brown’s
financial results and condition, as well as its other achievements,
is contained in Brown & Brown’s filings with the Securities and
Exchange Commission. Such 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, and material adverse changes in the business and financial
condition of the seller, the buyer, or both, and their respective
customers. All forward-looking statements made herein are made only
as of the date of this release, and Brown & Brown 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 Brown & Brown hereafter becomes
aware.
R. Andrew WattsChief Financial Officer(386)
239-5770
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