Friday, August 12, 2022

Brown & Brown, Inc. enters into settlement to accumulate

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DAYTONA BEACH, Fla., April 29, 2022 (GLOBE NEWSWIRE) — J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Patrick Quinlan, the proprietor of Patrick Quinlan Insurance coverage (“Quinlan Insurance coverage”), as we speak introduced that Brown & Brown, Inc. (“Brown & Brown”) has entered into an settlement to accumulate the overall insurance coverage operations of Quinlan Insurance coverage. The transaction is predicted to shut in late June 2022, topic to sure closing circumstances.

With over 35 years of expertise within the insurance coverage advisory enterprise, Patrick Quinlan established Quinlan Insurance coverage in Dublin in 2008 as a boutique-style business insurance coverage brokerage, providing significant skilled business insurance coverage recommendation, companies and options to a variety of economic segments. At this time, the ten seasoned insurance coverage advisors on the Quinlan Insurance coverage workforce focus on offering property insurance coverage options to house block administration firms and property homeowners and their brokers.

Barrett Brown, president of Brown & Brown’s Retail phase, said, “Patrick demonstrated the entrepreneurial spirit valued by Brown & Brown in constructing his profitable company. We’re excited concerning the capabilities that the Quinlan Insurance coverage workforce brings to our O’Leary Insurances operations and the additional development and enhancement of our presence in Dublin.”

Patrick Quinlan said, “I actually welcome this settlement. It would profit our clients and our employees and offers certainty in these unsure instances. This chance will permit us to proceed rising our enterprise and specializing in our clients in partnership with O’Leary Insurances and Brown & Brown.”

Brown & Brown, Inc. is a number one insurance coverage brokerage agency delivering threat administration options to people and companies since 1939. With greater than 12,000 teammates in 350+ places throughout the U.S. and choose world markets, we’re dedicated to offering revolutionary methods to assist defend what our clients worth most. For extra info or to seek out an workplace close to you, please go to bbinsurance.com.

This press launch might comprise sure statements regarding future outcomes that are forward-looking statements, together with these related to this acquisition. These statements usually are not historic information, however as a substitute symbolize solely Brown & Brown’s present perception relating to future occasions, lots of which, by their nature, are inherently unsure and out of doors of Brown & Brown’s management. It’s potential that Brown & Brown’s precise outcomes and monetary situation might differ, presumably materially, from the anticipated outcomes and monetary situation indicated in these forward-looking statements. Additional info regarding Brown & Brown and its enterprise, together with components that doubtlessly might materially have an effect on Brown & Brown’s monetary outcomes and situation, in addition to its different achievements, is contained in Brown & Brown’s filings with the Securities and Change Fee. Such components embrace these components related to Brown & Brown’s consummation and integration of the introduced acquisition, together with any issues analyzed within the due diligence course of, and materials adversarial adjustments within the enterprise and monetary situation of the vendor, the client, or each, and their respective clients. All forward-looking statements made herein are made solely as of the date of this launch, and Brown & Brown doesn’t undertake any obligation to publicly replace or appropriate any forward-looking statements to replicate occasions or circumstances that subsequently happen or of which Brown & Brown hereafter turns into conscious.

For extra info:

R. Andrew Watts
Chief monetary officer
(386) 239-5770



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