Brown & Brown Acquires Acumen Re Management Corp.

March 3, 2003

Florida's Brown & Brown Inc. announced its acquisition of Acumen Re Management Corporation, of Mount Laurel, N.J., in a transaction effective March 1.

Acumen Re Management Corporation, with annual revenues of approximately $2,000,000, is a reinsurance underwriting management organization, primarily acting as an outsourced specific excess workers' compensation facultative reinsurance underwriting facility.

Ted Betoni will continue to serve as president of Acumen Re and Profit Center manager. Betoni, along with Bob Murphy, Jennifer Hubbs and their existing staff, will continue to operate at their current location as a stand-alone Brown & Brown profit center.