Acquisitions continue to play an integral part in Brown & Brown’s success, consistently contributing to our overall growth rate and earnings per share. Brown & Brown completed nine new acquisitions in 2000 and three more in the first two weeks of 2001.

“Many of our acquisitions originate from the relationships we have formed over the past 60 years,” says Roy Bridges, Regional Executive Vice President. “Our acquisition strategy is twofold. First, we target profitable agencies, typically those with between $2 and $3 million in annual revenue for freestanding agencies and a minimum of $1 million for fold-in acquisitions. Secondly, and perhaps more importantly in an industry based heavily on relationships, we look for high-quality people with a proven track record,” says Roy.

Because Brown & Brown possesses a unique corporate culture, management must judge whether the people involved in a potential acquisition will “buy into” the company’s unique culture and thrive as members of an aggressive team. Definitive steps are taken to indoctrinate newly acquired staff members and ensure that the company’s “hunter-gatherer” instinct and quality service ideals are maintained. “The message is clearly communicated that while honesty and integrity are essential in our culture, just like in the animal kingdom, you must hunt to eat,” explains Roy.

“Our ambitious acquisition strategy has served us well. Expanding our business through acquisitions gives us a distinct competitive advantage,” adds Roy.

In addition to increased marketing opportunities, the company’s widespread presence provides additional influence with insurance carriers who want their products marketed nationally. “Most importantly, we believe that these acquisitions will continue to present boundless opportunities for growing our books of business,” says Roy.

The insurance industry is becoming increasingly competitive, and Brown & Brown firmly believes that only the fittest will survive. With more than 37 stand-alone and/or fold-in acquisitions in the past three years, Brown & Brown is at the forefront of the industry in consolidation.