DAYTONA BEACH, Fla. and TAMPA, Fla., June 8 /PRNewswire-FirstCall/ -- C. Roy Bridges, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Robert B. and Cindy A. Borden, Principals of BeneTec, Inc. of Arkansas, headquartered in Rogers, Arkansas, today announced the asset acquisition of BeneTec, Inc. of Arkansas by Brown & Brown, Inc.
BeneTec, with annualized revenues exceeding one-half million dollars, is an insurance agency specializing in serving the employee benefits needs of clients throughout the Ozark region. Cindy Borden and her staff will continue to serve their customers from their current location, as a branch operation of Brown & Brown's existing Arkansas subsidiary, under the direction of Joseph S. Guercio. It is planned that the services offered in the Rogers location will be expanded to include a full range of insurance services and products.
Roy Bridges, who is responsible for Brown & Brown's operations in most of the South Central United States, noted, "We are quite pleased to have Cindy and Bob Borden and their team of insurance specialists join our growing Arkansas presence. Their addition further expands our Arkansas base and represents our initial expansion into the rapidly-growing region of Northwest Arkansas and Southwestern Missouri."
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, and managed health care programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the United States' eighth largest independent insurance intermediary. The Company's Web address is http://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 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, material adverse changes in the business and financial condition of either or both companies and their respective customers, and substantial delay in the expected closing of the transaction. 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.
SOURCE Brown & Brown, Inc.
-0- 06/08/2005
/CONTACT: Cory T. Walker, Chief Financial Officer, Brown & Brown, Inc.,
+1-386-239-7250/
/Web site: http://www.bbinsurance.com /
(BRO)
CO: Brown & Brown, Inc.; BeneTec, Inc. of Arkansas
ST: Florida, Arkansas
IN: INS
SU: TNM
AC-MR
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9680 06/08/2005 08:35 EDT http://www.prnewswire.com