Brown & Brown Acquires Washington Operations

September 5, 2003

Florida’s Brown & Brown Inc. went on a buying spree recently and acquired three insurance operations in the state of Washington: Canfield and Associates Inc. and Canfield Insurance Services Inc., of Ephrata, Wash., and Washington Insurance Services Inc., of Woodinville.

The assets of all three firms were acquired by Program Management Services Inc. (PMSI), a Brown & Brown subsidiary. The transactions are effective Sept. 1.

Canfield and Associates and Canfield Insurance Services with annualized revenues of approximately $4.4 million, provide third party administration, risk management consulting and related services to governmental and quasi-governmental bodies throughout the state of Washington.

This transaction represents the initial expansion of Brown & Brown’s PMSI subsidiary, a leader in serving the insurance needs of the governmental sector countrywide, into the Northwestern U.S. Dave Canfield, acting as Profit Center Manager, and his staff, will continue to operate at their current location as a stand-alone operation of PMSI.

Washington Insurance Services, with annual revenues of approximately $2.2 million, provides underwriting and insurance brokerage services to governmental and quasi-governmental bodies, as well as commercial clients, throughout Washington and other Western states.

Randal D. Storm, president of Washington Insurance Services, and his staff will continue to operate at their current location.

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