2007 | Press Release

Oct 8, 2007 – Brown & Brown acquires Professional Risk Managers and PRM Group, LLC

Brown & Brown, Inc. Announces the Asset Acquisition of
Professional Risk Managers, Inc. and PRM Group, LLC
DAYTONA BEACH, FL — Oct 8, 2007 — Thomas E. Riley, Regional President of
Brown & Brown, Inc. (NYSE:BRO – News), John P. Raucci, William M. Scott, Peter H.
Goodstein, the principals of Professional Risk Managers, Inc., and PRM Group, LLC,
today announced the asset acquisition of Professional Risk Managers, Inc. and PRM
Group, LLC (collectively the PRM Group) by a subsidiary of Brown & Brown, Inc.
The PRM Group, with annualized revenues of approximately $4.5 million, is primarily
engaged in the property and casualty, surety, and group benefits insurance agency
business in the New York City metropolitan area. The PRM Group will continue
operating out of their current Purchase, New York location.
Mr. Riley noted, “We are very pleased to have John, Bill, Peter and the PRM Group
insurance professionals join our New York team, as we expand our presence in the
Empire state.”
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and
reinsurance products and services, as well as risk management, third party administration,
managed health care, and Medicare set-aside services and programs. Providing service to
business, public entity, individual, trade and professional association clients nationwide,
the Company is ranked by Business Insurance magazine as the sixth largest independent
insurance intermediary in the United States and worldwide. The Company’s Web address
is www.bbinsurance.com.
Mystic Capital Advisors Group, LLC provided transaction advisory services to both
Professional Risk Managers, Inc. and PRM Group, LLC. For more information on
Mystic Capital, please contact Kevin P. Donoghue at 212-251-0972 or visit
www.mysticcapital.com.
# # #

Similar Posts