DAYTONA BEACH and TAMPA, Fla., April 5 /PRNewswire-FirstCall/ -- Jim W. Henderson, President and Chief Operating Officer of Brown & Brown, Inc. (NYSE: BRO) and Frank R. See, President of Brown & Brown Re, Inc., are pleased to announce that James C. Kilduff has joined Brown & Brown Re and will be responsible for the Company's new Florida operation based in Palm Beach Gardens.
Mr. Henderson commented that, "We're very excited to have a person of Jim's caliber and expertise join the ever-growing Brown & Brown Re team. Jim brings a tremendous amount of underwriting and brokerage experience to Brown & Brown Re. His presence in Florida will enable this important subsidiary to serve Brown & Brown's vast Florida operations while also responding to other Florida reinsurance opportunities." Mr. See added, "Jim Kilduff will have an immediate positive impact on how Brown & Brown Re does business in Florida. His professionalism and knowledge of the reinsurance industry will add excellent value to our existing clients, as well as future relationships."
Brown & Brown Re, Inc. is the wholly owned reinsurance brokerage subsidiary of Brown & Brown, Inc., ranked by Business Insurance magazine as the United States' sixth largest independent insurance intermediary. Brown & Brown Re provides customized reinsurance programs to treaty and facultative clients utilizing a vast network of reinsurance companies worldwide and specializes in all forms of casualty, property, professional and finite reinsurance coverage. Headquartered in New York City, the subsidiary also has offices in Palm Beach Gardens, Florida and Princeton, New Jersey.
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; the potential occurrence of a disaster that affects certain areas of the States of Arizona, California, Florida, New Jersey, New York and/or Washington, where significant portions of the Company's business are concentrated; the actual costs of resolution of contingent liabilities; and 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 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- 04/05/2004
/CONTACT: Frank R. See, President, Brown & Brown Re, Inc.,
+1-212-208-1458/
/Web site: http://www.bbinsurance.com /
(BRO)
CO: Brown & Brown, Inc.; Brown & Brown Re, Inc.
ST: Florida
IN: FIN INS
SU: PER
TS
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1873 04/05/2004 08:19 EDT http://www.prnewswire.com