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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) 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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