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TAMPA — The leader of one of the largest insurance firms in Florida, J. Powell Brown of Brown & Brown, says the company will seek expansion opportunities across the country.
Brown, president and CEO, spoke about the firm's acquisition strategy at the Morgan Stanley Financials Conference June 13 in New York. The firm has dual corporate headquarters in Tampa and Daytona Beach.
Brown, according to an account of the conference from SNL Financial, says personnel compatibility with firms would trump geography when the company seeks to buy more insurance firms. The company will seek to find those firms anywhere in the U.S., Brown says, even places where it already has a presence.
Brown & Brown's most recent acquisition was of Insurcorp, a Las Vegas-based firm with $5 million a year in sales.
Brown & Brown is publicly traded (symbol: BRO; recent share price: $26.21). It had $1 billion in revenues in 2011.
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