DAYTONA BEACH and TAMPA, Fla., Jan. 24 /PRNewswire/ -- Brown & Brown, Inc. (NYSE: BRO) today announced the election of John R. Riedman, Chairman and CEO of the Riedman Corporation, headquartered in Rochester, New York, to the Company's Board of Directors.
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At the regularly scheduled January 24, 2001, Board of Directors Meeting, this prominent New York state businessman and civic leader was elected to the Brown & Brown Board. Commenting on Mr. Riedman's talents, J. Hyatt Brown, Chairman, President and CEO, said, "In addition to leading one of New York state's most respected real estate development firms and the insurance organization which recently was merged with ours, John serves on the New York State Thruway Authority and Canal Corporation board, is a director of the Sage, Rutty & Co. stockbrokerage firm, of Rochester, New York, and is a trustee of Genesee Hospital and WXXI Public Broadcasting Corporation. He is also a past member of the Public Affairs Committee of the United States Chamber of Commerce, as well as having served on numerous other business and civic group boards. We look forward to having his experience and proven business acumen as counsel for our Company as we journey into the 21st century."
At the same meeting the Brown & Brown Board of Directors also declared a regular quarterly cash dividend of $.075 per share. The dividend is payable on February 21, 2001, to shareholders of record on February 7, 2001.
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. The 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 State of Florida, where the company's business is 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 company whose operations are being acquired and/or any material adverse changes in the business and financial condition of either or both 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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CONTACT: Cory T. Walker, Chief Financial Officer or Brown & Brown, Inc., 904-239-7250
CAPTION: BROLOGO BROWN & BROWN LOGO Brown & Brown, Inc. logo. (PRNewsFoto)[HD] DAYTONA BEACH AND TAMPA, FL USA 10/03/2000