{"id":13651,"date":"2019-02-15T19:30:00","date_gmt":"2019-02-15T19:30:00","guid":{"rendered":"https:\/\/www.bbinsurance.com\/news\/brown-brown-inc-announces-the-asset-acquisition-of-donald-p-pipino-company-ltd\/"},"modified":"2019-02-15T19:30:00","modified_gmt":"2019-02-15T19:30:00","slug":"brown-brown-inc-announces-the-asset-acquisition-of-donald-p-pipino-company-ltd","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-donald-p-pipino-company-ltd\/","title":{"rendered":"Brown & Brown, Inc. Announces the Asset Acquisition of Donald P. Pipino Company, LTD"},"content":{"rendered":"

Click to read the official press release on investor.bbinsurance.com<\/em><\/a><\/p>\n

DAYTONA BEACH, Fla., Feb. 15, 2019 (GLOBE NEWSWIRE) — J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Mary T. Pipino, the principal of Donald P. Pipino Company, LTD, today announced that Beecher Carlson Insurance Services, LLC, a subsidiary of Brown & Brown, Inc. (Beecher Carlson), has acquired certain assets of Donald P. Pipino Company (Pipino).<\/p>\n

Pipino has roots dating back to 1952 and was founded by Mary Pipino\u2019s late father, Donald P. Pipino.\u00a0 The firm specializes in providing risk management solutions to customers in the commercial real estate industry, including malls and shopping centers, and offers a wide range of property and casualty insurance products and services.\u00a0 The portion of the Pipino operations acquired in the transaction has annual revenues of approximately $11 million.\u00a0 Following the acquisition, the Pipino team will continue doing business from their existing Boardman, Ohio, Indianapolis, Indiana, and Tampa, Florida locations under the leadership of Mary Pipino, who will become an Executive Vice President of Beecher Carlson.<\/p>\n

\u201cMary and her team embody our culture of providing customers with a high level of consulting on risk identification, quantification, financing alternatives, and program implementation and execution,\u201d stated Joe Siech, Beecher Carlson\u2019s Chief Executive Officer.\u00a0 \u201cHaving known and respected Mary and her team for the past 20 years, we are thrilled to now collaborate to offer broader resources and expanded service and consulting capabilities to our collective customers.\u201d<\/p>\n

Mary Pipino stated, \u201cBeecher Carlson and Pipino are the perfect partners to create one of the most powerful client-focused insurance risk management firms in our industry.\u00a0 Our companies were founded and are anchored on a culture of pioneering innovating insurance risk management products and services to positively impact our clients\u2019 total cost of risk and insurance.\u00a0 The marriage of our outstanding teams, exceptional leadership, and individual areas of expertise are the perfect complement to each other, and we look forward to perpetuating and pioneering the next level of insurance risk management innovations and even greater success.\u201d<\/p>\n

Brown & Brown, Inc. is a leading insurance brokerage firm, providing risk management solutions to individuals and businesses. With Brown & Brown\u2019s 80 years of proven success and thousands of teammates, we offer knowledge you can trust and strive to deliver superior customer service. \u00a0For more information, please visit www.bbins.info<\/a>.<\/p>\n

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\u2019s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown\u2019s control. It is possible that Brown & Brown\u2019s 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\u2019s financial results and condition, as well as its other achievements, is contained in Brown & Brown\u2019s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown\u2019s 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.<\/p>\n

R. Andrew Watts
\nChief Financial Officer
\n(386) 239-5770<\/p>\n

\"BB001<\/a><\/p>\n

Source: Brown & Brown, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"

DAYTONA BEACH, Fla. , Feb. 15, 2019 (GLOBE NEWSWIRE) — J. Scott Penny , Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Mary T. Pipino , the principal of Donald P. Pipino Company , LTD, today announced that Beecher Carlson Insurance Services, LLC , a subsidiary of Brown & Brown,<\/p>\n","protected":false},"author":30,"featured_media":18631,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"insight_category":[127,141,134],"class_list":["post-13651","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-company-news","insight_category-investor-relations","insight_category-mergers-acquisitions"],"acf":[],"yoast_head":"\nBrown & Brown, Inc. Announces the Asset Acquisition of Donald P. 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