Brown & Brown Announces N.Y./N.J. Acquisitions

January 5, 2004

Brown & Brown, Inc. announced that it has acquired Niagara Risk Management Associates, Inc. And Niagara Benefits Group, Inc., both based in Williamsville,N.Y., and the Pashley Insurance Agency of Marmora New Jersey. Both acquisitions were effective Jan. 1, 2004.

The bulletin described Niagara as “a retail insurance agency which focuses on serving both the commercial property and casualty and employee benefits needs of its clients.” Its annualized revenues were approximately $4.5 million, The agency operates throughout the Northeast with its primary presence in the greater Buffalo/Niagara region. Ted Sobolewski, Jr., John Berger, Jr. and Kevin Gannon and their team will continue to operate from their current location. In addition, Niagara’s recent acquisition of the John G. Berger Insurance Agency, Inc. and its leadership team, John G. Berger, Sr. and Marcia Roberts, will be part of the Brown & Brown team.

Brown & Brown Regional Executive Vice President Thomas E. Riley, who is responsible for operations in the Northeastern U.S., commented: “We feel quite fortunate to have this fine group of professionals select Brown & Brown as their new partner. Ted and his team bring us new talents and expertise and are a welcome addition to our growing Empire State presence. We expect that in the near term our existing Williamsville office will be merged into this operation.”

The Pashley Insurance Agency “is a commercial property and casualty agency serving residents and businesses across New Jersey, with its focus on the South Jersey Shore area,” said the announcement. Its annualized revenues were approximately $2 million. Dan Pashley and his staff will continue to operate from their current location as a new Brown & Brown stand-alone office.

Commenting on the transaction, Riley indicated: “We are quite pleased to have Dan and this fine group of professionals join our growing New Jersey presence. They bring a broadened focus and expanded capabilities to our already strong Garden State team.”

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