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Actionable news in BRO: BROWN & BROWN Inc,


The following excerpt is from the company's SEC filing.

(Daytona Beach, Florida) . . . Brown & Brown, Inc. (NYSE:BRO) (“Brown & Brown”) today announced a realignment of its Retail Division. The new structure is intended to be more agile and will further leverage Brown & Brown’s national capabilities in order to deliver solutions to customers in its decentralized operating model and increase the opportunities for additional organic growth. Brown & Brown believes the new structure will be more responsive in providing robust solutions for our customers and more effective in advancing sales in the face of sustained rate pressure in the property and casualty insurance marke ts. In addition, the new structure will concentrate Brown & Brown’s efforts on certain focus areas across all Retail Division Profit Centers.

Brown & Brown’s Retail Division will continue to operate as one division but, effective immediately, it will have six distinct regions under the direction of Brown & Brown’s President and Chief Executive Officer, J. Powell Brown. As part of this new alignment, Richard A. Knudson, Jr., Thomas K. Huval, Anthony M. Grippa, Steve Denton and P. Barrett Brown, all of whom currently serve as Senior Vice Presidents in Brown & Brown’s Retail Division, will join Charles H. Lydecker as Regional Presidents and will have oversight responsibility for the newly created regions. In his new role as Regional President, Mr. Lydecker, who previously served as President of the Retail Division, will continue to report directly to Powell Brown and will retain primary responsibility for Brown & Brown’s Retail Division offices throughout Florida and the west coast of the United...