DAYTONA BEACH, Fla. and TAMPA, Fla., Jan. 20 /PRNewswire-FirstCall/ -- The Board of Directors of Brown & Brown, Inc. (NYSE: BRO) today announced that Thomas E. Riley, CPA, CPCU, CMA, CIC, has been elected as Regional President, responsible for the Company's operations in the Northeastern U.S., as well as certain offices in South Florida. At the same time, as yet another reflection of the Company's on-going growth and expanded market scope, Robert F. Iocco, CPA, CIC, was elected a Regional Executive Vice President, and will assume responsibility for certain operations in New Jersey, New York and Pennsylvania.
J. Hyatt Brown, Chairman and Chief Executive Officer, stated, "These actions are in line with our stated goal of continuing to maintain the best possible management structure as we grow our organization. These changes will allow us to continue our growth in the controlled environment that we feel best suits our efforts while also protecting the investment of our shareholders."
Jim W. Henderson, President and Chief Operating Officer, commented, "Tom is a long-time friend and colleague. He has been a major contributor to building the success of Brown & Brown through creating outstanding earnings growth for our shareholders as well as the recruitment and nurturing of future leaders."
Mr. Riley has been with Brown & Brown since 1990, when he joined the Company as Chief Financial Officer. He has been promoted through several positions over the years and was elected as Regional Executive Vice President in 2001. In his new position, as Regional President, Mr. Riley will continue to be responsible for his current regional operations but will enhance his responsibilities through an expanded role in further growing the Company's overall operations. Mr. Riley is a Certified Public Accountant (CPA) and has earned the Chartered Property Casualty Underwriter (CPCU), Certified Management Accountant (CMA), and Certified Insurance Counselor (CIC) designations.
Mr. Iocco joined Brown & Brown in 1992, after serving three years as an independent auditor with Ernst & Young LLP. He served in several capacities prior to being promoted to Profit Center Manager for the Company's national Physicians Protector Plan(R) insurance program, in 1997. In 2000, Mr. Iocco was named the Divisional Executive Vice President responsible for the Bethlehem, Pennsylvania office, which he has grown into one of the Company's largest operations. A graduate of the University of Central Florida, Mr. Iocco has earned the Certified Public Accountant (CPA) and Certified Insurance Counselor (CIC) designations.
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. Our 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: general economic conditions around the country generally and in those regions where the elected officers' operations are concentrated; downward commercial property and casualty premium pressures; the competitive environment generally and in those regions where the elected officers' operations are concentrated, and the integration of the Company's operations with those of businesses or assets the Company has acquired or may acquire in the future generally and in those regions where the elected officers' operations 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.
-0- 01/20/2005
/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.
ST: Florida
IN: INS
SU: PER
KW
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8948 01/20/2005 08:30 EST http://www.prnewswire.com