Standard & Poor’s announced that Florida’s Brown & Brown Inc. will replace Golden State Bancorp in the S&P MidCap 400 Index after the close of trading on a date to be announced. S&P 500 component Citigroup Inc. is acquiring Golden State Bancorp.
Brown & Brown Inc. is an insurance agency and brokerage firm that markets and sells insurance products and services. The company, headquartered in Daytona Beach, Fla., will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Insurance Brokers sub-industry.
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