Brown & Brown Announces the Asset Acquisition of Spann Insurance Agency

6/20/17

DAYTONA BEACH, Fla., June 20, 2017 (GLOBE NEWSWIRE) -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Gwen Spann, Jack Spann, Lee Spann and John Spann IV, the principals, widow and descendants of John A. Spann, Jr., the founder of Spann Insurance, Inc., today announced that Brown & Brown of Tennessee, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Spann Insurance.

Spann Insurance, a third generation insurance agency, has been a fixture in the Nashville metropolitan area providing insurance solutions for business and individual clients since 1951. The agency has annual net revenues of approximately $3 million. Spann Insurance will transition into Brown & Brown’s profit center in Brentwood, Tennessee, which operates under the direction of John Esposito, Regional President of Brown & Brown, Inc.

John Esposito stated, “Jack and Lee, along with their mother Gwen, and son, John, have successfully lead an agency with a 65-year history in Nashville. We are excited to have the opportunity to bring broader insurance solutions to all of the Spann clients while bringing the strength of the Spann team to our Nashville office, led by Ryan Rothrock.”

The Spann Family stated, “Becoming part of the Brown & Brown team will provide our loyal clients and dedicated staff additional resources and new exciting options that we otherwise would not be able to offer. We are impressed how Brown & Brown maintains the same family atmosphere and professional, personal service that has always been our mission.”

Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance and reinsurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration, and other services. Serving business, public entity, individual, trade and professional association clients nationwide, Brown & Brown is ranked by Business Insurance magazine as the United States’ sixth largest independent insurance intermediary. Brown & Brown’s Web address is www.bbinsurance.com.

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