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Corporation
FINANCIAL | Insurance
bbinsurance.com

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Portfolio Exits

2

Partners & Customers

3

About Brown & Brown Insurance

Brown & Brown (NYSE: BRO) is an independent insurance intermediary that through its licensed subsidiaries provides a variety of insurance products and services to corporate, public entity, institutional, trade, professional, association and individual clients.

Brown & Brown Insurance Headquarter Location

220 South Ridgewood Ave

Daytona Beach, Florida, 32114,

United States

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Latest Brown & Brown Insurance News

Brown & Brown, Inc. Announces the Acquisition of Heacock Insurance Group

Nov 12, 2021

Daytona Beach, Florida, UNITED STATES DAYTONA BEACH, Fla., Nov. 12, 2021 (GLOBE NEWSWIRE) -- J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Stacey Heacock Weeks, Jason Heacock and Ford Heacock, III the principals of Heacock Insurance Group, Inc. (“Heacock Insurance”), today announced that Brown & Brown has acquired the assets of Heacock Insurance. Heacock Insurance is a fifth-generation, family-owned agency providing risk management solutions for its central Florida customers since 1922. As a trusted member of the Lakeland/Sebring community for almost a century, Heacock Insurance today delivers innovative insurance advice for both individual and business customers. The Heacock Insurance team will continue to operate from their offices in Lakeland and Sebring under the leadership of Stacey Heacock Weeks. Mike Keeby, regional president for Brown & Brown, stated, “The Heacock name has been synonymous with professional integrity and personal service in the greater Lakeland and Sebring area for 100 years. Brown & Brown shares the same customer-focused values with the Heacock family and team. We are excited about our future in central Florida with the addition of Heacock Insurance to our Brown & Brown team.” Ford Heacock, III commented, “As a family-owned business, over the past 50 years, I have had the good fortune to work with my grandfather, father, uncle, cousins, brothers and my daughter in Heacock Insurance. I am equally pleased to ensure the future of Heacock Insurance through our new partnership with Brown & Brown.” Jason Heacock added, “In exploring our options for partners, the culture of Brown & Brown as a business that believes strongly in family values was a perfect fit for our family and team.” Stacey Heacock Weeks said, “As now the fifth-generation member of the Heacock family to run Heacock Insurance, providing opportunities for our entire team remains a primary concern for me. I am excited to have the support of Brown & Brown behind me as I lead our team members into our second century.” About Brown & Brown, Inc. Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 11,000 teammates in more than 300 locations across the U.S. and select global markets, we are committed to providing innovative strategies to help protect what our customers value most. For more information, please visit www.bbinsurance.com. This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts, but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process, and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware. For more information:

Brown & Brown Insurance Portfolio Exits

2 Portfolio Exits

Brown & Brown Insurance has 2 portfolio exits. Their latest portfolio exit was Smith Insurance Associates on May 20, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/20/2021

Acquired - II

1

00/00/0000

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10

Date

5/20/2021

00/00/0000

Exit

Acquired - II

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Companies

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Valuation

Acquirer

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Sources

1

10

Brown & Brown Insurance Acquisitions

33 Acquisitions

Brown & Brown Insurance acquired 33 companies. Their latest acquisition was Heacock Insurance on November 12, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

11/12/2021

Acquired

3

10/19/2021

Acquired

1

10/12/2021

Acquired

1

9/20/2021

Debt

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$99M

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10

8/25/2021

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$99M

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10

Date

11/12/2021

10/19/2021

10/12/2021

9/20/2021

8/25/2021

Investment Stage

Debt

Companies

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Valuation

Total Funding

$99M

$99M

Note

Acquired

Acquired

Acquired

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Sources

3

1

1

10

10

Brown & Brown Insurance Partners & Customers

3 Partners and customers

Brown & Brown Insurance has 3 strategic partners and customers. Brown & Brown Insurance recently partnered with Picwell on October 10, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

10/20/2020

Licensor

Picwell

United States

AI Eye Episode 457: Brown & Brown (NYSE: $BRO) Partners with Picwell for AI-Powered Benefits Decision Support, and Veritone (NasdaqGS: $VERI) Launches AI-Enabled Basketball Site DraftClips.com

Insurance brokerage giant Brown & Brown , Inc. has partnered with healthcare technology firm Picwell , giving the former 's customers easy access to Picwell 's comprehensive benefits decision support solutions .

1

6/25/2020

Partner

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10

1/8/2019

Vendor

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10

Date

10/20/2020

6/25/2020

1/8/2019

Type

Licensor

Partner

Vendor

Business Partner

Picwell

Country

United States

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News Snippet

AI Eye Episode 457: Brown & Brown (NYSE: $BRO) Partners with Picwell for AI-Powered Benefits Decision Support, and Veritone (NasdaqGS: $VERI) Launches AI-Enabled Basketball Site DraftClips.com

Insurance brokerage giant Brown & Brown , Inc. has partnered with healthcare technology firm Picwell , giving the former 's customers easy access to Picwell 's comprehensive benefits decision support solutions .

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Sources

1

10

10

Brown & Brown Insurance Team

5 Team Members

Brown & Brown Insurance has 5 team members, including former President, Anthony Grippa.

Name

Work History

Title

Status

Anthony Grippa

President

Former

Charles Lydecker

President

Former

Ken Walton

President

Former

Thomas Tinsley

Chief Financial Officer

Former

Benjamin Barbieri

Executive Vice President

Former

Name

Anthony Grippa

Charles Lydecker

Ken Walton

Thomas Tinsley

Benjamin Barbieri

Work History

Title

President

President

President

Chief Financial Officer

Executive Vice President

Status

Former

Former

Former

Former

Former

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