Brown & Brown Acquiring N.J.’s Grinspec, Public Entity Group Specialist

March 26, 2007

Florida-based insurance broker Brown & Brown, Inc. is acquiring Grinspec, Inc., an insurance intermediary with offices in New Providence and Moorestown, New Jersey.

Brown & Brown, Inc. said it will acquire all of the outstanding capital stock of Grinspec, Inc. Finalization of the transaction is subject to the satisfaction of certain customary conditions.

Grinspec, with annualized revenues of approximately $8.2 million, specializes in group health, dental, vision and other group insurance benefits for employees of public entities, primarily school districts, in New Jersey.

Following the closing Grinspec’s staff of insurance professionals, under the leadership of Ryan Tola, of Brown & Brown’s Brown & Brown Consulting, of Philadelphia, will continue to operate from their existing locations as freestanding Brown & Brown operations.

Source: Brown & Brown

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