On March 1, 2017 (the “Effective Date”), Brown & Brown, Inc. (the “Company”) entered into a settlement agreement (the “Settlement Agreement”) with AssuredPartners, Inc. and certain of its employees and former employees of the Company (the “Assured Parties”) to settle all ongoing litigation relating to the lawsuit in the Circuit Court for the Seventh Judicial Circuit, in and for Volusia County, Florida, Case No. 2016-30900-CICI, regarding claims of the Company against the Assured Parties relating to certain violations of post-employment restrictive covenants, tortious interference, and other claims, and counterclaims by certain Assured Parties against the Company for breach of employment agreements and breach of implied condition of employment agreements.

to the terms of the Settlement Agreement, (i) all claims and counterclaims asserted in the litigation will be dismissed with prejudice, (ii) each of the parties to the litigation has received full releases of all claims and counterclaims asserted in the litigation, (iii) the Assured Parties paid the Company the sum of $20 million on the Effective Date, (iv) for a period of six months after the Effective Date, the Assured Parties will not solicit, hire, engage, or seek to induce, directly or indirectly, any employee of the Company for employment by any Assured Party in any capacity, and (v) for a period of 18 months after the Effective Date, the Assured Parties will not solicit, hire, engage, or seek to induce, directly or indirectly, any employee of the Company for employment by any Assured Party in any capacity from any of the Company’s offices located in Daytona Beach, Florida and the greater Orlando, Florida area, including all offices in Orange and Seminole Counties, Florida.

About Brown & Brown, Inc. (NYSE:BRO)

Brown & Brown, Inc. is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services in the property, casualty and employee benefits areas. It provides customers with non-investment insurance contracts, as well as other targeted, customized risk management products and services. It operates through four segments: the Retail segment; the National Programs segment; the Wholesale Brokerage segment, and the Services segment. The Retail Segment provides a range of insurance products and services to commercial, public and quasi-public entities, and to professional and individual customers. Its National Programs Segment works with over 40 carrier partners, offering approximately 50 programs. Its Wholesale Brokerage segment markets and sells excess and surplus commercial insurance products and services to retail insurance agencies. Services Segment provides a range of insurance-related services.

Brown & Brown, Inc. (NYSE:BRO) Recent Trading Information

Brown & Brown, Inc. (NYSE:BRO) closed its last trading session up +0.77 at 43.87 with 984,524 shares trading hands.