Brown & Brown, Inc. Announces the Asset Acquisition of Amity Insurance Agency
August 17 2020 - 6:45AM
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown,
Inc. (NYSE:BRO), and Justin T. Kesner and Jonathan A. Lanza, the
principals of Amity Insurance Agency, Inc., today announced that
Brown & Brown of Massachusetts, Inc., a subsidiary of Brown
& Brown, Inc., has acquired substantially all of the assets of
Amity Insurance Agency.
Amity Insurance was founded in 1978 and offers a
wide spectrum of insurance products and services, specializing in
risk management solutions for customers in the legal, parking,
transportation, and construction industries. The firm also provides
a variety of personal lines insurance products and services to
individuals throughout New England. Following the transaction, the
Amity team will continue operating from their existing office in
Quincy, Massachusetts, under the direction of Justin Kesner.
Donald M. McGowan, a Regional President in Brown
& Brown’s Retail Segment, stated, “This transaction allows us
to add a number of high-quality leaders and teammates to our
growing New England operations. Amity has a reputation for
combining creativity and expertise to meet the risk management
needs of its customers, and we are excited they’ve chosen to take
their next step with us.”
Justin Kesner commented, "Brown & Brown is a
team of long-term strategists. Alignment in long-term thinking is
hard to find in a partner, and we were excited to learn we share
this view. We believe Brown & Brown’s deep resources,
technology, collaboration, and operational experience can greatly
accelerate Amity's growth and our ability to service our current
and future clients. To join Brown & Brown’s premier network is
an extraordinary opportunity for our teammates and clients, and
we're thrilled."
Jonathan Lanza stated, “We share Brown &
Brown’s commitment to superior customer service, quality insurance
products, innovation, and integrity. We are very pleased about what
this opportunity means for our team and our clients. With Brown
& Brown, we will continue to provide Amity’s personal customer
service and expertise while providing our commercial and individual
clients with an even broader range of property and casualty and
professional liability insurance protection, as well as robust
employee benefits products and services."
Brown & Brown, Inc. is a leading insurance
brokerage firm, providing risk management solutions to individuals
and businesses. With more than 80 years of proven success and
thousands of teammates, we offer knowledge you can trust and strive
to deliver superior customer service. For more information, please
visit 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
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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