DAYTONA BEACH and TAMPA, Fla., April 9 /PRNewswire/ -- J. Hyatt Brown, Chairman, President and CEO of Brown & Brown, Inc. (NYSE: BRO), and representatives of Loy Harris (deceased), owner of The Harris Agency, Inc., of Manassas, Virginia, today announced Brown & Brown's acquisition of The Harris Agency. The transaction is effective April 1, 2001.
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The Harris Agency, established in 1897 and purchased by Loy Harris in 1965, is located in historic Manassas, Virginia. The agency serves the personal and business insurance needs of several thousand clients in the Washington, D.C., metropolitan area. The current management, including Richard Zaring, CLU, CEBS as Profit Center Manager, Carrie Roberts, CPCU, as Commercial Lines Manager, and staff will continue to operate the agency at its current location as a free-standing Brown & Brown operation.
Linda Downs, Brown & Brown's Regional Executive Vice President responsible for Virginia operations, said, "We are very excited to have this team of experienced insurance professionals join Brown & Brown. The Harris Agency represents a terrific entree for our Company into Northern Virginia and gives us a presence of eleven offices throughout the Commonwealth of Virginia."
Brown & Brown, Inc. provides a broad range of insurance products and services, as well as risk management, employee benefit administration, and managed health care services through offices located across the United States. The company is ranked by Business Insurance magazine as the nation's ninth largest independent insurance intermediary organization. Our Web address is www.brown-n-brown.com.
This press release may contain certain statements relating to future results which are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors such as general economic conditions around the country, fluctuations in equity and fixed income markets, downward commercial property and casualty premium pressures, the competitive environment, the potential occurrence of a major natural disaster in certain areas of the States of Arizona, Florida and/or New York, where significant portions of the Company's business are concentrated, the actual costs of resolution of contingent liabilities, and those factors relevant to Brown & Brown's integration of acquisitions, including any material adverse changes in the customers of the companies whose operations have been acquired and/or any material adverse changes in the business and financial conditions of Brown & Brown or acquired companies and their respective customers. 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.
SOURCE Brown & Brown, Inc.
Web site: http: //www.brown-n-brown.com
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888-776-6555 or 201-369-3467
CONTACT: Cory T. Walker, Chief Financial Officer of Brown & Brown, Inc., 904-239-7250
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