Brown & Brown, Inc. Completes Acquisition of O’Leary Insurances

Rhea-AI Summary

Brown & Brown, Inc. (NYSE:BRO) has successfully completed the acquisition of O’Leary Insurances, enhancing its position in the insurance brokerage sector. This strategic move is expected to bolster Brown & Brown's risk management solutions for both individuals and businesses. As a leading firm with over 80 years of experience, the company aims to leverage this acquisition to provide superior customer service and expand its market reach. However, forward-looking statements regarding the integration and potential financial impacts remain uncertain.

Positive

• Acquisition of O’Leary Insurances strengthens market position.
• Enhances risk management solutions for clients.
• Supports expansion of customer service capabilities.

Negative

• Uncertainty regarding integration challenges.
• Potential for material adverse changes in financial condition.

DAYTONA BEACH, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) today announced the completion of the previously announced acquisition of O’Leary Insurances by Brown & Brown, Inc.

Brown & Brown, Inc. is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With more than 80 years of proven success and thousands of teammates, we offer knowledge you can trust and strive to deliver superior customer service. For more information, please visit bbinsurance.com.

This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts, but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’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 Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process, and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.

R. Andrew Watts
Chief Financial Officer
(386) 239-7550

FAQ

What was the purpose of Brown & Brown's acquisition of O’Leary Insurances?

The acquisition aims to enhance Brown & Brown's risk management solutions and expand its market reach.

When did Brown & Brown complete the acquisition of O’Leary Insurances?

The acquisition was completed on January 15, 2021.

How might the acquisition of O’Leary Insurances impact stock performance for BRO?

The impact remains uncertain due to integration challenges and potential financial risks.

What are the expected benefits of the acquisition for Brown & Brown?

The acquisition is expected to strengthen market position and improve customer service.

What risks are associated with Brown & Brown's acquisition of O’Leary Insurances?

Risks include integration challenges and potential adverse changes in financial conditions.