Brown & Brown Announces the Asset Acquisition of herronpalmer

8/21/17

DAYTONA BEACH, Fla., Aug. 21, 2017 (GLOBE NEWSWIRE) -- J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc. (NYSE:BRO), and Felicia Palmer and Tony Herron, the founders of herronpalmer, LLC, today announced that Pacific Resources Benefit Advisors, LLC, a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of herronpalmer.

Herronpalmer assists Fortune-ranked and other large company clients analyze, model and negotiate solutions associated with sourcing HR and employee benefit program administration. Herronpalmer has annual revenues of approximately $3.5 million. Felicia Palmer and Tony Herron, along with the herronpalmer team, will join the Pacific Resources profit center, which operates under the direction of Barrett Brown, Regional President of Brown & Brown, Inc.

Barrett Brown stated, “Tony and Felicia have developed herronpalmer into one of the top firms in thought leadership in the benefits administration consulting space. We expect big things by combining the herronpalmer team with our PacRes team, under the leadership of Paul Rogers and Paul Barden.”

Felicia Palmer stated, “Joining the Pacific Resources and Brown & Brown family allows us to further accelerate the growth and diversification of our advisory services and meet the evolving needs of our U.S. and global clients.” Tony Herron added, “The culture and philosophical alignment of providing independent, evidence-based insights to clients made a partnership with Pacific Resources a natural alliance. In addition, it will allow us to leverage the resources and best practices of both our organizations. We are excited to be joining Pacific Resources.”

Brown & Brown, Inc., through its subsidiaries, offers a broad range of insurance 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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