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Brown & Brown, Inc. reports developments from a diversified insurance agency, wholesale brokerage and insurance programs organization serving commercial, public-sector, professional and individual customers. Recurring updates cover Retail and Specialty Distribution activity, organic revenue trends, adjusted earnings measures, Organic Revenue with Contingents, dividends and share repurchase actions.
Company announcements also include acquisition activity within insurance distribution and dealer services, including asset purchases that expand product channels for vehicle, recreational vehicle, boat and motorcycle dealerships. Governance and operating updates address legal, compliance, enterprise risk management, technology, data and artificial intelligence initiatives across the organization.
Brown & Brown, Inc. (NYSE:BRO) has acquired substantially all assets of Frank E. Neal & Co., Inc., enhancing its presence in Tennessee's insurance market. With over 45 years of experience, Frank E. Neal specializes in providing commercial, surety, personal, and employee benefits insurance, particularly in the construction industry. This acquisition aims to foster economic growth and expand local service offerings. The Frank Neal team will integrate with Brown & Brown of Tennessee, under the leadership of Ryan Rothrock and John Esposito.
Brown & Brown, Inc. (NYSE: BRO) announced an agreement to acquire Vehicle Administrative Services (VAS) and its affiliates, enhancing its service offerings in emergency roadside assistance. This strategic acquisition, expected to close in October 2020, allows VAS to maintain its operations in Texas under the leadership of Bill Breindel. The collaboration aims to innovate and expand customer protection products, reflecting Brown & Brown's commitment to superior customer service and growth.
Brown & Brown, Inc. (NYSE: BRO) announced the immediate termination of its agreement to acquire HAUSER, which was initially expected to close in September 2020. The decision reflects uncertainty surrounding the completion of the transaction, which was conditional upon various factors. Brown & Brown is a leading insurance brokerage firm with 80 years of experience, offering risk management solutions. The company emphasizes its commitment to superior customer service and trust.
Brown & Brown, Inc. (NYSE:BRO) has acquired Amity Insurance Agency, significantly enhancing its New England operations. Founded in 1978, Amity specializes in risk management solutions for various industries and offers personal insurance services. The acquisition, announced by J. Scott Penny and Amity’s principals, is expected to leverage Brown & Brown’s resources and improve service to clients. Amity will continue its operations from Quincy, Massachusetts. This move aligns with Brown & Brown’s strategy to expand its market presence and enhance its service offerings.
Brown & Brown, Inc. (NYSE:BRO) has acquired substantially all assets of Buiten & Associates, LLC, a leading independent insurance agency in Michigan, as of August 13, 2020. The acquisition allows Brown & Brown to expand its footprint in Michigan, leveraging Buiten’s expertise and existing team, led by Paul Buiten. Brown & Brown aims to enhance customer service and drive future growth through this strategic merger. This acquisition reflects Brown & Brown's commitment to integrating high-quality insurance services, while aiming to strengthen its market position.
Brown & Brown, Inc. (NYSE: BRO) announced an agreement to acquire the assets of HAUSER, specializing in insurance solutions for private equity groups, set to close in September 2020. Founded 50 years ago, HAUSER provides M&A advisory, due diligence, and risk management services, with continuing operations in Cincinnati, Ohio. Brown & Brown aims to leverage HAUSER's expertise and capabilities to enhance service offerings for clients. The deal is expected to strengthen both companies' positions in the private equity insurance market, although future performance is subject to uncertainties and integration risks.
Brown & Brown, Inc. (NYSE: BRO) has declared a quarterly cash dividend of $0.085 per share, scheduled for payment on August 12, 2020. Shareholders must be on record by August 5, 2020 to receive this dividend. Operating for over 80 years, Brown & Brown is a prominent insurance brokerage firm committed to delivering risk management solutions to clients.
Brown & Brown, Inc. (NYSE: BRO) has acquired substantially all assets of First Resource, Inc., enhancing its Dealer Services division. This strategic acquisition aims to improve F&I performance management and training, leveraging the 25 years of experience of First Resource's owners, James Nelson and Lynn Meyer. They will continue to operate from Texas under Brown & Brown's leadership. This move aligns with Brown & Brown's objective of expanding its service capabilities in the southwest and reinforces its commitment to providing superior customer service in the insurance brokerage sector.
PillarRx Consulting has appointed Rob Cleek as Vice President of Information Technology, bringing over 16 years of experience in IT across various industries. Cleek will focus on delivering scalable and secure IT solutions to enhance customer insights. The company is poised for significant growth as it expands its technical solutions, aiming to optimize pharmacy benefit programs and eliminate inefficiencies without compromising member satisfaction. Executive Vice President Greg Rucinski emphasized Cleek's key role in the company's expansion amidst the current market landscape.
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