DAYTONA BEACH, FL AND TAMPA, FL -- 11/05/08 --
Michael A. Paschke,
Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and
Bruce A. Curry, Principal of Health Insurance Exchange, Inc. of Seattle,
Washington, today announced the asset acquisition of Health Insurance
Exchange, Inc. by a subsidiary of Brown & Brown, Inc.
Health Insurance Exchange, Inc., with annualized revenues of approximately
$1.2 million, focuses exclusively on employee benefits insurance for
individuals and businesses in the state of Washington and throughout the
United States. Bruce Curry and his staff will join Brown & Brown's
existing Seattle, Washington profit center under the leadership of Jeff
Martins. Mr. Curry will assume the title of Senior Vice President and
Benefits Manager for the Seattle profit center.
Mr. Paschke stated, "We are extremely pleased to have Bruce and his staff
of insurance professionals join our ever growing presence in the Northwest.
This team of talented insurance professionals will provide us with new
resources and service capabilities for our employee benefits clients
throughout the State of Washington."
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. 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. These statements are not
historical facts, but instead represent only the current belief of Brown &
Brown, Inc. and its subsidiaries (collectively the "Company") 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, 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 included in this press release
are made only as of the date of this press 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 thereafter becomes aware.
Contact:
Cory T. Walker
Chief Financial Officer
(386) 239-7250
