<SEC-DOCUMENT>0000079282-12-000004.txt : 20120112
<SEC-HEADER>0000079282-12-000004.hdr.sgml : 20120112
<ACCEPTANCE-DATETIME>20120112170754
ACCESSION NUMBER:		0000079282-12-000004
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120109
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120112
DATE AS OF CHANGE:		20120112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROWN & BROWN INC
		CENTRAL INDEX KEY:			0000079282
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		IRS NUMBER:				590864469
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13619
		FILM NUMBER:		12524748

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 1348
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33601
		BUSINESS PHONE:		8132224182

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1348
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	POE & BROWN INC
		DATE OF NAME CHANGE:	19930827

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	POE & ASSOCIATES INC
		DATE OF NAME CHANGE:	19920703
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<p align="center"><b>UNITED STATES</b></p>
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<p align="center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
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<p align="center"><b>Washington, D.C. 20549</b></p>
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<p>&nbsp;</p>
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<p>&nbsp;</p>
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<p align="center"><b>FORM 8-K</b></p>
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<p>&nbsp;</p>
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<p>&nbsp;</p>
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<p align="center"><b>CURRENT REPORT</b></p>
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<p align="center"><b>Pursuant to Section&nbsp;13 or 15(d) of the</b></p>
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<p align="center"><b>Securities Exchange Act of 1934</b></p>
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<p align="center"><b>Date of Report (date of earliest event reported):&nbsp; January 9, 2012</b></p>
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<p align="center"><b>Brown &amp; Brown, Inc.</b></p>
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<p align="center"><b>(Exact Name of Registrant as Specified in its Charter)</b></p>
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<p align="center">&nbsp;</p>
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<p>&nbsp;</p>
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<p align="center"><b>Florida</b></p>
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<p align="center"><b>001-13619</b></p>
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<p align="center"><b>59-0864469</b></p>
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<p align="center"><b>(State or Incorporation)</b></p>
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<p align="center"><b>(Commission File Number)</b></p>
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<p align="center"><b>(I.R.S. Employer Identification Number)</b></p>
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<p align="center">&nbsp;</p>
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<p align="center"><b><u>220 South Ridgewood Avenue, Daytona Beach, Florida 32114</u></b></p>
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<p align="center">(Address of principal executive offices) (Zip code)</p>
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<p>&nbsp;</p>
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<p align="center">Registrant's telephone number, including area code:&nbsp;&nbsp;<b><u>(386) 252-9601</u></b></p>
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<p>&nbsp;</p>
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<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>N/A</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
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<p align="center">(Former name or former address, if changed since last report)&nbsp;</p>
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<p> &nbsp; </p>
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<p>&nbsp;</p>
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<p>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>
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<p>&#61608;</p>
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<p>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
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<p>&nbsp;</p>
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<p>&#61608;</p>
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<p>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
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<p>&#61608;</p>
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<p>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
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<p>&nbsp;</p>
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<p>&#61608;</p>
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<p>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
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<p> &nbsp; </p>
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<p><b>Item 1.01</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E<b>ntry</b> <b>into Material Definitive Agreement.</b></p>
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<p> &nbsp; </p>
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<p>On January 9, 2012, Brown &amp; Brown, Inc. (the "Company") entered into: (1) an amended and restated revolving and term loan credit agreement (the "SunTrust Agreement") with SunTrust Bank ("SunTrust") that provides for (a) a $100.0 million term loan (the
"SunTrust Term Loan") and (b) a $50.0 million revolving line of credit (the "SunTrust Revolver") and (2) a $50.0 million&nbsp; promissory note (the "JPM Note") in favor of&nbsp; JPMorgan Chase Bank, N.A. ("JPMorgan"), pursuant to a letter agreement executed by JP
Morgan (together with the JPM Note, the "JPM Agreement") that provides for a $50.0 million uncommitted line of credit&nbsp; bridge facility (the "JPM Bridge Facility").&nbsp; The SunTrust Term Loan, the SunTrust Revolver and the JPM Bridge Facility were each funded
on January 9, 2012, and&nbsp; provided the financing for the Acquisition (as defined in Item 2.01 below).&nbsp; The SunTrust Agreement amends and restates the Amended and Restated Revolving Loan Agreement dated as of June&nbsp;3, 2008 by and between the Company and
SunTrust Bank (the "Prior SunTrust Agreement") that provided for a $50.0 million revolving line of credit in favor of the Company.</p>
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<p> &nbsp; </p>
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<p>The maturity date for the SunTrust Term Loan and the SunTrust Revolver &nbsp; is December 31, 2016, &nbsp; at which time all outstanding principal and unpaid interest will be due.&nbsp; Both the SunTrust Term Loan and the SunTrust Revolver may be increased by up
to $50.0 million (bringing the total available for each to $150.0 million for the SunTrust Term Loan and $100.0 million for the SunTrust Revolver, respectively).&nbsp; The calculation of interest and fees for the SunTrust Agreement is generally based on the Company's
funded debt-to-EBITDA ratio. <b>&nbsp;</b> Interest is charged at a rate equal to 1.00% to 1.40% above LIBOR or 1.00% below the Base Rate, each as more fully described in the SunTrust&nbsp; Agreement.&nbsp;&nbsp;Fees include an up-front fee, an availability fee of
0.175% to 0.25%, and a letter of credit margin fee of 1.00% to 1.40%.&nbsp;&nbsp;Initially, until the Company's March 31, 2012 quarter end, the applicable margin for LIBOR advances is 1.00%, the availability fee is 0.175%, and the letter of credit margin fee is
1.00%. <b></b>The obligations under the SunTrust Term Loan and SunTrust Revolver are unsecured and the SunTrust Agreement includes various covenants, limitations and events of default that are customary for similar facilities for similar borrowers and that are
substantially similar to those contained in the Prior SunTrust Agreement.<b>&nbsp;</b></p>
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<p>&nbsp;</p>
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<p>The maturity date for the JPM Bridge Facility is February 3, 2012, at which time all outstanding principal and unpaid interest will be due.&nbsp; Interest is charged at a rate equal to the CB Floating Rate, as more fully described in the JPM
Note.&nbsp;&nbsp;&nbsp;The JPM Bridge Facility is unsecured and the JPM Agreement includes various agreements, limitations and events of default that are customary for similar facilities for similar borrowers.&nbsp; The Company expects to repay all outstanding
principal and unpaid interest under the JPM Bridge Facility with proceeds from other debt financings the Company is currently pursuing.&nbsp;</p>
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<p> &nbsp; </p>
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<p>The Company uses SunTrust for the majority of its cash management requirements.&nbsp;&nbsp;In addition, SunTrust formerly provided lending services to the Company under the Prior SunTrust Agreement.&nbsp;</p>
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<p> &nbsp; </p>
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<p>Copies of the the SunTrust Agreement and the JPM Agreement will be filed as exhibits to our Annual Report on Form 10-K for the year ending December 31, 2011.</p>
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<p> &nbsp; </p>
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<p><b>Item 1.02</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; <b>Termination of a Material Definitive Agreement.</b></p>
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<p> &nbsp; </p>
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<p>The information included in Item 1.01 of this Report regarding the amendment and restatement of the Prior SunTrust Agreement is incorporated by reference into this Item 1.02.</p>
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<p><b> <b>&nbsp;</b> </b></p>
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<p><b>Item 2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b> &nbsp; <b>Completion of Acquisition or Disposition of Assets.</b></p>
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<p> &nbsp; </p>
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<p>On January 9, 2012, the Company completed the acquisition (the "Acquisition") of Arrowhead General Insurance Agency Superholding Corporation ("Arrowhead") pursuant to a merger agreement (the "Merger Agreement"), dated December 15, 2011, among the Company, Pacific
Merger Corp. ("Merger Sub"), a wholly-owned subsidiary of the Company, Arrowhead, and Spectrum Equity Investors V, L.P., solely in its capacity as the representative of Arrowhead's equityholders (the "Equityholders' Representative").&nbsp; The Company previously
disclosed the execution of the Merger Agreement in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 16, 2011.&nbsp;</p>
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<p> &nbsp; </p>
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<p>As previously disclosed in the Company's December 15, 2011 press release that was furnished as an exhibit to the December 16, 2011 8-K (which is not incorporated herein by reference or deemed to be filed), Arrowhead is a national insurance program manager and one
of the largest managing general agents (MGAs) in the property and casualty insurance industry.&nbsp;</p>
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<p> &nbsp; </p>
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<p>Immediately upon the consummation of the Acquisition, Arrowhead's shares converted into the rights to receive cash equal, collectively, to $395.0 million, subject to adjustments for options to purchase shares of Arrowhead's common stock, working capital, sharing
of net operating tax losses, Arrowhead's preferred stock units, transaction expenses, and closing debt.&nbsp; In addition, within 60 days following the third anniversary of the Acquisition's closing date, the Company will pay to certain current Arrowhead
equityholders additional earn-out payments equal, collectively, to $5.0 million, subject to certain adjustments based on the cumulative EBITDA of Arrowhead and all of its subsidiaries, as calculated under the Agreement, during the final year of the three-year period
following the Acquisition's closing date.</p>
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<p> &nbsp; </p>
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<p>Other than in respect of the Merger Agreement and employment agreements with certain of Arrowhead's former directors and officers, the Company, the Merger Sub, the Company's directors and officers, and the associates of such directors and officers have no material
relationship with Arrowhead or the Equityholders' Representative.</p>
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<p>&nbsp;</p>
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<p>A copy of the Merger Agreement will be filed as an exhibit to our Annual Report on Form 10-K for the year ending December 31, 2011.</p>
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<p> &nbsp; </p>
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<p><b>Item 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b> &nbsp; <b>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></p>
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<p> &nbsp; </p>
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<p>The information included in Item 1.01 of this Report is incorporated by reference into this Item 2.03.</p>
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<p> &nbsp; </p>
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<p><b>Item&nbsp;7.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulation FD Disclosure.</b></p>
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<p> &nbsp; </p>
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<p>On January 9, 2012, the Company issued a press release announcing the completion of the Acquisition.&nbsp; The press release is attached as Exhibit&nbsp;99.1.</p>
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<p> &nbsp; </p>
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<p>The information furnished herewith pursuant to Item&nbsp;7.01 of this Current Report, including Exhibit 99.1, shall not be deemed to be filed for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise
subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference
in such filing.</p>
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<p><b> <b>&nbsp;</b> </b></p>
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<p><b>Item&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
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<p> &nbsp; </p>
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<p>(d)&nbsp; Exhibits</p>
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<p> &nbsp; </p>
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<p>The following exhibit is furnished herewith:</p>
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<p> &nbsp; </p>
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<p>&nbsp; <b><u>Exhibit No.</u></b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><u>Description</u></b></p>
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<p>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated
January 9, 2012.&nbsp;</p>
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<p> &nbsp; </p>
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<p>NOTE:&nbsp; This Form 8-K contains Forward-Looking Statements, such as the repayment of the JPM Bridge Facility with proceeds from other debt financings.&nbsp; These statements are not historical facts, but instead represent only the Company's current belief
regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control.&nbsp; It is possible that actual events may differ, possibly materially, from the anticipated events indicated in these forward-looking
statements.&nbsp; These risks and uncertainties include, but are not limited to, the Company's failure to obtain the other debt financings it is currently pursuing and other risks, relevant factors and uncertainties identified in the Company's Annual Report on Form
10-K for the fiscal year ended December&nbsp;31, 2010, subsequent Reports on Form 10-Q and Form 8-K and our other securities filings.</p>

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<p> &nbsp; </p>
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<p>&nbsp;</p>
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<p align="center"><b>SIGNATURES</b></p>
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<p>&nbsp;</p>
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<p>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
BROWN &amp; BROWN, INC.</p>
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<p> &nbsp; </p>
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: <u>&nbsp;&nbsp;&nbsp;&nbsp; /S/ CORY T. WALKER</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></p>
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cory Walker</p>
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Sr. Vice President, Treasurer and</p>
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp; Chief Financial Officer</p>
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<p>Date: January 12, 2012</p>
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<p> &nbsp; </p>
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<p> &nbsp; </p>

<p>&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<br clear="all" />


<p align="center"> &nbsp; </p>

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<p align="center">EXHIBIT INDEX</p>
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<p><b><u>Exhibit No.</u></b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><u>Description</u></b></p>
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<p>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated
January 9, 2012.&nbsp;</p>
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<p>&nbsp;</p>
</td>
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<p> &nbsp; </p>

<p> &nbsp; </p>

<p> &nbsp; </p>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1 CHARTER
<SEQUENCE>2
<FILENAME>pr.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>

<title></title>
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<p>&nbsp;</p>

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<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>News Release</b></p>
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<p>&nbsp;</p>
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<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cory T. Walker</p>
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<p>January 9,
2012&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Financial Officer</p>
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<p>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(386) 239-7250</p>
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<p>&nbsp;</p>

<p>&nbsp;</p>

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<p align="center"><b>BROWN &amp; BROWN, INC. COMPLETES</b></p>
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<p align="center"><b>ACQUISITION OF ARROWHEAD GENERAL INSURANCE AGENCY, INC.</b></p>
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<p>&nbsp;</p>
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<p>(Daytona Beach and Tampa, Florida) . . . Brown &amp; Brown, Inc. (NYSE:BRO) today announced the completion of the previously-announced acquisition by Brown &amp; Brown, Inc. of the parent company of Arrowhead General Insurance Agency, Inc.
(&ldquo;Arrowhead&rdquo;).</p>
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<p>&nbsp;</p>
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<p>Brown &amp; Brown, Inc., through its subsidiaries, offers a broad range of insurance and reinsurance products and related services. Additionally, certain Brown &amp; 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 &amp; Brown is ranked by <i>Business Insurance</i> magazine as the United States&rsquo; seventh-largest independent insurance intermediary. Brown &amp;
Brown&rsquo;s Web address is www.bbinsurance.com.&nbsp; Arrowhead&rsquo;s Web address is www.aarowheadgrp.com.</p>
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<p>&nbsp;</p>
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<p>This press release may contain certain statements relating to future results which are forward-looking statements.&nbsp; These statements are not historical facts, but instead represent only Brown &amp; Brown&rsquo;s current belief regarding future events, many of
which, by their nature, are inherently uncertain and outside of Brown &amp; Brown&rsquo;s control.&nbsp; It is possible that Brown &amp; Brown&rsquo;s actual results and financial condition may differ, possibly materially, from the anticipated results and financial
condition indicated in these forward-looking statements.&nbsp; Further information concerning Brown &amp; Brown and its business, including factors that potentially could materially affect Brown &amp; Brown&rsquo;s financial results and condition, as well as its
other achievements, is contained in Brown &amp; Brown&rsquo;s filings with the Securities and Exchange Commission.&nbsp; All forward-looking statements made herein are made only as of the date of this release, and Brown &amp; Brown does not undertake any obligation
to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown &amp; Brown hereafter becomes aware.&nbsp;</p>
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<p>&nbsp;</p>
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<p align="center"><b><i># # # # #</i></b></p>
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</SEC-DOCUMENT>
