DAYTONA BEACH, Fla. and TAMPA, Fla., Jun 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- Thomas E. Riley, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Wayne R. Dubbs, President of Bartos-Hunsicker, Inc., of Bethlehem, Pennsylvania, today announced the asset acquisition of Bartos- Hunsicker, Inc. by Brown & Brown, Inc. The transaction is effective June 1, 2003.
Bartos-Hunsicker, with annualized revenues of approximately $800,000, is a commercial property and casualty insurance agency headquartered in Bethlehem, Pennsylvania, which serves businesses and homeowners throughout Pennsylvania and New Jersey. Wayne Dubbs, Randy Hartranft and their staff will be combining their operations with Brown & Brown's existing Bethlehem, Pennsylvania, location.
Mr. Riley, who is responsible for Brown & Brown's operations in the Northeastern United States, said, "We are pleased to have Wayne, Randy and their staff of insurance professionals join us. Their operation adds strength to our Lehigh Valley area presence and provides an important addition in our goal to better serve the insurance needs of the residents and businesses of this growing region."
Brown & Brown, Inc. and its subsidiaries provide a broad range of insurance and reinsurance 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 sixth largest independent insurance intermediary organization. Our 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 Company's 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, are contained in the Company's filings with the Securities and Exchange Commission. Some factors include: general economic conditions around the country; downward commercial property and casualty premium pressures; the competitive environment; the integration of the Company's operations with those of businesses or assets the Company has acquired or may acquire in the future and the failure to realize the expected benefits of such integration; and the potential occurrence of a disaster that affects certain areas of the States of Arizona, California, Florida and/or New York, where significant portions of the Company's business are concentrated. All forward- looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
SOURCE Brown & Brown, Inc.
Cory T. Walker, Chief Financial Officer, Brown & Brown, Inc., +1-386-239-7250
http://www.bbinsurance.com