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Brown Acquires Newport Beach Agency

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NU Online News Service, Feb. 5, 2004, 5:44 p.m. EST – Brown & Brown Inc., Daytona Beach, Fla., has announced yet another acquisition.[@@]

This time, the aggressively expanding financial services marketing firm has acquired the assets of J. Gregory Brown & Company Inc., Insurance and Financial Services, Newport Beach, Calif., from J. Gregory Brown.

J. Gregory Brown is a retail insurance agency that generates about $5 million in annual revenue by selling employee benefits and property-casualty insurance.

The price of the deal was not available.

The current managers of the firm, Greg Brown and Jody Smith, will continue to run the business, and the business will keep both its employees and its offices in Newport Beach and Los Angeles, Brown & Brown says.