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Slide #38. Brown & Brown, Inc. — Assets of Pacific Resources Benefits Advisors, LLC
Brown & Brown, Inc. (NYSE:BRO)
Assets of Pacific Resources Benefits Advisors, LLC
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE: BRO), and Paul Barden and Paul Rogers, the controlling members of Pacific Resources Benefits Advisors, LLC ("PacRes"), today announced that a subsidiary of Brown & Brown, Inc. has entered into an asset purchase agreement to acquire substantially all of the operating assets of PacRes. The transaction is expected to close in May 2014, subject to customary closing conditions, including regulatory approval.
Brown & Brown is an insurance agency, wholesale brokerage, insurance programs and service organization. Co.'s segments are: Retail, which provides a range of insurance products and services, and as non-insurance services and products; National Programs, which provides professional liability and related package products, a range of insurance products, flood coverage, and targeted products and services; Wholesale Brokerage, which markets and sells excess and surplus commercial and personal lines insurance; and Services, which provides insurance-related services, including third-party claims administration and adjusting services, and medical utilization management services.
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