Brown & Brown, Inc. completes the acquisition of Orchid Underwriters Agency and CrossCover Insurance Services
Brown & Brown, Inc. (NYSE:BRO) announced the completion of its acquisition of Orchid Underwriters Agency and CrossCover Insurance Services on April 1, 2022. This strategic move enhances Brown & Brown's existing portfolio and expands its risk management solutions. With over 12,000 employees and 300 locations globally, Brown & Brown continues to strengthen its market position in the insurance brokerage industry. The company emphasizes that future performance remains uncertain and may differ from expectations due to various factors.
- Successful completion of acquisition of Orchid Underwriters Agency and CrossCover Insurance Services.
- Expansion of Brown & Brown's service offerings and market presence.
- Increased potential for revenue growth through enhanced risk management solutions.
- Integration challenges may arise from the acquisition process.
- Future performance remains uncertain, with potential material differences from expectations.
DAYTONA BEACH, Fla., April 01, 2022 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) today announced the completion of the previously-announced acquisition of Orchid Underwriters Agency and CrossCover Insurance Services.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 12,000 teammates in more than 300 locations across the U.S. and select global markets, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, 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.
For more information:
R. Andrew Watts
Chief financial officer
(386) 239-5770
FAQ
What was the purpose of Brown & Brown's acquisition of Orchid Underwriters Agency and CrossCover Insurance Services?
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