Brown & Brown Completes Asset Acquisition of Cal-Surance Associates

November 13, 2002

Brown & Brown Inc. and Chartered Financial Services Corporation, the holding company for Cal-Surance Associates Inc., United Network of Insurance Services Inc., Sterling Reinsurance Intermediaries Inc., and Lancer Claims Services Inc., all headquartered in Orange, Calif., announced the finalization of their previously announced acquisition transaction, providing for Brown & Brown Inc. to acquire the assets of these four companies. The transaction is effective Nov. 1, 2002.

Cal-Surance Associates, United Network of Insurance Services, Sterling Reinsurance Intermediaries and Lancer Claims Services generate combined annual revenues of approximately $27 million. The companies will continue to operate from their current locations as free-standing Brown & Brown profit centers.

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