LAKE MARY, Fla., June 6 /PRNewswire-FirstCall/ -- Brown & Brown Public Entity Services, a division of Program Management Services, Inc., a subsidiary of Brown & Brown, Inc. (NYSE: BRO), is pleased to announce that it has acquired the Governmental Programs Division of U.S. Risk, L.P., of Dallas, Texas. U.S. Risk is considered a leading provider of public officials liability, educators legal liability and law enforcement liability insurance for public entities.
Concurrent with this transaction, Mr. Mark E. Dillard, former lead underwriter of public entity business for U.S. Risk, and his underwriting team have joined Brown & Brown Public Entity Services' Dallas, Texas office and will remain active on their existing accounts. Public Entity Services has pledged to make every effort to provide current U.S. Risk clients with the same high-caliber service to which they have become accustomed.
Shane Caldwell, who heads Brown & Brown's Public Entity Services, commented, "The acquisition of the U.S. Risk Governmental Programs Division will further enhance Brown & Brown Public Entity Services' position as the premier provider of insurance products and services to public entities throughout the United States. We are proud to have Mark and his team of public entity specialists join the Brown & Brown family."
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 that 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 in the insurance agency and brokerage industry generally; 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; the potential occurrence of a disaster that affects certain areas of the States of Arizona, California, Florida, Georgia, New Jersey, New York, Pennsylvania and/or Washington, where significant portions of the Company's business are concentrated; and the actual costs of resolution of contingent liabilities. 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- 06/06/2005
/CONTACT: Cory T. Walker, Chief Financial Officer of Brown & Brown, Inc.,
+1-386-239-7250/
/Web site: http://www.bbinsurance.com /
(BRO)
CO: Brown & Brown, Inc.; Brown & Brown Public Entity Services; Program
Management Services, Inc.; U.S. Risk, L.P.
ST: Florida, Texas
IN: INS
SU: TNM PER
MR-MD
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4640 06/06/2005 09:11 EDT http://www.prnewswire.com