Corporate News Blog – Brown & Brown to Acquire TriCoast Insurance; Set to Expand its Disaster Insurance Product Portfolio

Research Desk Line-up: CorVel Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Brown & Brown, Inc. (NYSE: BRO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BRO. The Company announced on June 19, 2017, that its wholly-owned subsidiary, Arrowhead General Insurance Agency, Inc., has acquired substantially all the assets of TriCoast Insurance. Arrowhead views this agreement as a step to elevate the development and marketing of its new products while leveraging the extensive expertise of TriCoast in the earthquake and hurricane insurance segment. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Insurance Brokers industry. Pro-TD has currently selected CorVel Corporation (NASDAQ: CRVL) for due-diligence and potential coverage as the Company announced on June 01, 2017, its financial results for the quarter and fiscal year which ended on March 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on CorVel when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BRO; also brushing on CRVL. Go directly to your stock of interest and access today’s free coverage at:

http://protraderdaily.com/optin/?symbol=BRO

http://protraderdaily.com/optin/?symbol=CRVL

About the Acquisition

Under the terms of the agreement, Arrowhead will partner with TriCoast insurance to bring specialty disaster insurance products to agents and insured. TriCoast currently holds expertise in the earthquake and hurricane insurance segments, and post this acquisition, Arrowhead views the expansion of its portfolio across new markets and into the areas currently served by TriCoast.

Once the agreement is completed, the TriCoast insurance assets will become part of Arrowhead, operating under the direction of Steve Bouker, Arrowhead’s Executive Vice President. Craig Justice, principal at TriCoast Insurance, will resume the partnership with Arrowhead to deliver specialty catastrophe insurance products and other Arrowhead project to the respective clients.

TriCoast reported net annual net revenues of approximately $2.4 million, for FY16.

The Company

Brown & Brown, one of the world’s top 10 insurance intermediaries, operates through its licensed subsidiaries and delivers a variety of insurance products and services to corporate, public entity, institutional, trade, professional, association, and individual clients. Headquartered in Daytona Beach, Florida, the Company has offices located across the United States, with products and services in four major business divisions, namely:

The Retail Segment (Commercial, public and Quasi-public clients);
The National Programs Segment (Industries, trade groups, government entities, and market niche clients);
The Wholesale Brokerage Segment (Commercial insurance products and services for retail insurance agencies);
The Services Segment (Insurance-Related services, including, third-party claims administration and medical utilization management services, in workers’ compensation and all-lines liability arenas).

Brown & Brown Growth Portfolio

Brown & Brown currently employs about 3,461 insurance professionals, and operates through 105 decentralized profit centers, hence delivering unique products and services in an attempt to serve the highly volatile demands of the clients. Each profit center caters to the needs of the marketplace by identifying and developing unique insurance products and by accessing existing initiatives of the company.

On September 14, 2016, Brown & Brown and Kronholm Insurance Services collectively announced that Brown & Brown of Connecticut, Inc., a subsidiary of Brown & Brown has acquired all of the assets of Kronholm Insurance. Tkronholm is a leading insurance firm, offering lawyer professional liability solutions, a committee of sale coverage, long-term care and related commercial and personal lines products in Connecticut and Rhode Island for over 30 years, with annual revenues of about $2.5 million. Brown & Brown viewed this agreement as a step to enhance its service offerings through its profit centers operating in Rocky Hill, Connecticut, which currently operates under Don McGowan, the Regional President of Brown & Brown, Inc.

Last Close Stock Review

On Tuesday, June 20, 2017, the stock closed the trading session at $43.75, slightly falling 0.57% from its previous closing price of $44.00. A total volume of 584.55 thousand shares have exchanged hands, which was higher than the 3-month average volume of 570.88 thousand shares. Brown & Brown’s stock price advanced 3.99% in the last one month, 2.84% in the past three months, and 21.70% in the previous twelve months. The stock is trading at a PE ratio of 23.38 and has a dividend yield of 1.23%. The stock currently has a market cap of $6.13 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 466362