DAYTONA BEACH, FL and TAMPA, FL, Feb 12, 2010 (MARKETWIRE via COMTEX) -- Sam R. Boone, Jr., Regional Executive Vice President of Brown &
Brown, Inc. (NYSE: BRO), and Robert L Sagrillo, principal of Medical
Settlement Protocols, LLC (or "Protocols"), today announced the
acquisition of substantially all the assets of Protocols by a
subsidiary of Brown & Brown, Inc.
Protocols, with annual revenues of approximately $4 million, is a
national provider of Medicare set-aside services, including Medicare
Secondary Payer statute compliance-related services, Medicare cost
allocation projections, claims resolution services, custodial account
administration and consulting services, primarily in the area of
workers' compensation and personal injury claims. Robert Sagrillo
and his staff will continue to operate under the Protocols name from
their existing office in Lakewood, Colorado.
Mr. Boone, who is responsible for the services operations of Brown &
Brown, commented, "Protocols is a recognized leader and pioneer in the
Medicare compliance industry. We are pleased that Robert and the
other talented members of the Protocols team are joining Brown &
Brown to help us increase our presence and depth in this space." Mr.
Sagrillo remarked, "Everyone at Protocols is excited and honored to
become part of the Brown & Brown family of companies. We are looking
forward to the opportunities that lie ahead."
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, and trade and professional
association clients nationwide, the Company is ranked by Business
Insurance magazine as the sixth 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, 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, 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 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
SOURCE: Brown & Brown, Inc.
