DAYTONA BEACH, FL and TAMPA, FL, Aug 31, 2009 (MARKETWIRE via COMTEX) -- C. Roy Bridges, Regional Executive Vice President of Brown & Brown,
Inc. (NYSE: BRO), and Steve R. Roussel, owner of Roussel &
Associates, LLC, located in Brentwood, Tennessee, today announced
that a subsidiary of Brown & Brown has acquired the group employee
benefits division of Roussel & Associates.
Roussel & Associates is an established financial services agency and
will continue to offer a range of financial products and services to
individuals and businesses in Brentwood, Tennessee and the greater
Nashville metropolitan area.
With annualized revenues of approximately $1.7 million, the group
employee benefits division of Roussel & Associates will relocate to
Brown & Brown's existing Nashville, Tennessee operation, under the
leadership of Danny Simmerman. Mr. Bridges, who is responsible for
certain of Brown & Brown's operations in the Southeast, commented,
"We are honored to have Chris Hartnett, Paul Roussel and the other
members of Roussel & Associates' group benefits team join our forces
in Nashville, and we are excited about the opportunities presented by
this new addition to our employee benefits portfolio."
"Our team spent a lot of years and hard work building this side of
the business," said Steve Roussel, Founder and Owner of Roussel &
Associates. "I feel confident saying the employee benefits portfolio
will remain in good hands with Brown & Brown."
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
SOURCE: Brown & Brown, Inc.