{"id":13652,"date":"2019-02-12T06:55:00","date_gmt":"2019-02-12T06:55:00","guid":{"rendered":"https:\/\/www.bbinsurance.com\/news\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/"},"modified":"2019-02-12T06:55:00","modified_gmt":"2019-02-12T06:55:00","slug":"brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/","title":{"rendered":"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc."},"content":{"rendered":"

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

DAYTONA BEACH, Fla., Feb. 12, 2019 (GLOBE NEWSWIRE) — J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Stephen Smith, Jr., Brian & Kellie Smith Friel, Christopher & Carrie Smith and Brendan & Megan Smith Whelan, the owners of Smith Insurance Associates, Inc. (\u201cSmith Insurance\u201d), today announced that Brown & Brown Metro, LLC, a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Smith Insurance.<\/p>\n

Smith Insurance is a family owned agency with over 35 years of experience, providing a variety of business insurance products to its customers with a focus on multifamily residential, hospitality and commercial structures.\u00a0 Smith Insurance\u2019s annualized revenue is approximately $5,500,000.\u00a0 The Smith Insurance team will continue to operate from their office in Spring House, Pennsylvania, as a branch office of Brown & Brown\u2019s Mt. Laurel, New Jersey office, which is led by Billy Roberts.\u00a0 Mr. Roberts reports to Rich Knudson, Regional President of Brown & Brown, Inc.<\/p>\n

Billy Roberts, Vice President of Brown & Brown Metro, LLC, stated, \u201cSmith Insurance Associates have been trusted insurance professionals in Pennsylvania for over 35 years.\u00a0 It is a true family business that provides unique insurance solutions for the real estate industry while maintaining a commitment to personalized service.\u00a0 We could not be more excited to partner with the talented Smith team and further build our habitational expertise regionally and nationally.\u201d<\/p>\n

The Smith family stated, \u201cWe are excited about what this opportunity means for our team and our clients. Smith Insurance and Brown & Brown share a mutual commitment to our founder Stephen Smith\u2019s vision of superior customer service, quality insurance products, innovation, and integrity.\u00a0 This new alliance will not only allow us to expand our footprint in the residential real estate marketplace, it will also afford our clients and staff an even broader range of options, solutions and services; while allowing us to continue to provide the personal customer service for which we are known.\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. For more information, please visit bbinsurance.com.<\/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. 12, 2019 (GLOBE NEWSWIRE) — J. Scott Penny , Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Stephen Smith, Jr. , Brian & Kellie Smith Friel , Christopher & Carrie Smith and Brendan & Megan Smith Whelan , the owners of Smith Insurance Associates, Inc.<\/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-13652","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 Smith Insurance Associates, Inc. - Brown & Brown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc.\" \/>\n<meta property=\"og:description\" content=\"DAYTONA BEACH, Fla. , Feb. 12, 2019 (GLOBE NEWSWIRE) -- J. Scott Penny , Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Stephen Smith, Jr. , Brian & Kellie Smith Friel , Christopher & Carrie Smith and Brendan & Megan Smith Whelan , the owners of Smith Insurance Associates, Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Brown & Brown\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bbrown.com\/wp-content\/uploads\/2019\/02\/investor-news-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1425\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/\",\"url\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/\",\"name\":\"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc. - Brown & Brown\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bbrown.com\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/investor-news-image.jpg\",\"datePublished\":\"2019-02-12T06:55:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/#breadcrumb\"},\"inLanguage\":\"us\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"us\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bbrown.com\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/investor-news-image.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bbrown.com\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/investor-news-image.jpg\",\"width\":1425,\"height\":836,\"caption\":\"Investor Relations Featured Image\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/insight\\\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Insights\",\"item\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/news-events\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#website\",\"url\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/\",\"name\":\"Brown & Brown\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"us\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#organization\",\"name\":\"Brown & Brown\",\"url\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"us\",\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bbrown.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/cropped-BBRetail002-RGBrevs.png\",\"contentUrl\":\"https:\\\/\\\/www.bbrown.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/cropped-BBRetail002-RGBrevs.png\",\"width\":1000,\"height\":136,\"caption\":\"Brown & Brown\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bbrown.com\\\/us\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc. - Brown & Brown","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/","og_locale":"en_US","og_type":"article","og_title":"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc.","og_description":"DAYTONA BEACH, Fla. , Feb. 12, 2019 (GLOBE NEWSWIRE) -- J. Scott Penny , Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Stephen Smith, Jr. , Brian & Kellie Smith Friel , Christopher & Carrie Smith and Brendan & Megan Smith Whelan , the owners of Smith Insurance Associates, Inc.","og_url":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/","og_site_name":"Brown & Brown","og_image":[{"width":1425,"height":836,"url":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2019\/02\/investor-news-image.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/","url":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/","name":"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc. - Brown & Brown","isPartOf":{"@id":"https:\/\/www.bbrown.com\/us\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/#primaryimage"},"image":{"@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2019\/02\/investor-news-image.jpg","datePublished":"2019-02-12T06:55:00+00:00","breadcrumb":{"@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/#breadcrumb"},"inLanguage":"us","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/"]}]},{"@type":"ImageObject","inLanguage":"us","@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/#primaryimage","url":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2019\/02\/investor-news-image.jpg","contentUrl":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2019\/02\/investor-news-image.jpg","width":1425,"height":836,"caption":"Investor Relations Featured Image"},{"@type":"BreadcrumbList","@id":"https:\/\/www.bbrown.com\/us\/insight\/brown-brown-inc-announces-the-asset-acquisition-of-smith-insurance-associates-inc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.bbrown.com\/us\/"},{"@type":"ListItem","position":2,"name":"Insights","item":"https:\/\/www.bbrown.com\/us\/news-events\/"},{"@type":"ListItem","position":3,"name":"Brown & Brown, Inc. Announces the Asset Acquisition of Smith Insurance Associates, Inc."}]},{"@type":"WebSite","@id":"https:\/\/www.bbrown.com\/us\/#website","url":"https:\/\/www.bbrown.com\/us\/","name":"Brown & Brown","description":"","publisher":{"@id":"https:\/\/www.bbrown.com\/us\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bbrown.com\/us\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"us"},{"@type":"Organization","@id":"https:\/\/www.bbrown.com\/us\/#organization","name":"Brown & Brown","url":"https:\/\/www.bbrown.com\/us\/","logo":{"@type":"ImageObject","inLanguage":"us","@id":"https:\/\/www.bbrown.com\/us\/#\/schema\/logo\/image\/","url":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2021\/12\/cropped-BBRetail002-RGBrevs.png","contentUrl":"https:\/\/www.bbrown.com\/wp-content\/uploads\/2021\/12\/cropped-BBRetail002-RGBrevs.png","width":1000,"height":136,"caption":"Brown & Brown"},"image":{"@id":"https:\/\/www.bbrown.com\/us\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/insight\/13652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/types\/insight"}],"author":[{"embeddable":true,"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/users\/30"}],"version-history":[{"count":0,"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/insight\/13652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/media\/18631"}],"wp:attachment":[{"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/media?parent=13652"}],"wp:term":[{"taxonomy":"insight_category","embeddable":true,"href":"https:\/\/www.bbrown.com\/us\/wp-json\/wp\/v2\/insight_category?post=13652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}