<SEC-DOCUMENT>0000079282-13-000007.txt : 20130415
<SEC-HEADER>0000079282-13-000007.hdr.sgml : 20130415
<ACCEPTANCE-DATETIME>20130415170950
ACCESSION NUMBER:		0000079282-13-000007
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130413
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20130415
DATE AS OF CHANGE:		20130415

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:		13761946

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>kq1.htm
<DESCRIPTION>8K COVER
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Century Schoolbook; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">UNITED STATES</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">SECURITIES AND EXCHANGE COMMISSION</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Washington, D.C. 20549</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">FORM 8-K</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">CURRENT REPORT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Pursuant to Section 13 or 15(d) of the</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Securities Exchange Act of 1934</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Date of Report (Date of earliest event reported): April 15, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center; text-decoration: underline"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>BROWN &amp; BROWN, INC.</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="width: 34%; text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>Florida</U></FONT></TD>
    <TD STYLE="width: 33%; text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>0-7201</U></FONT></TD>
    <TD STYLE="width: 33%; text-decoration: underline; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>59-0864469</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(State or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center; text-decoration: underline"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>220 South Ridgewood Avenue, Florida 32114</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(Address of principal executive offices) (Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">Registrant's telephone number, including area code:<U> &nbsp;&nbsp;&nbsp;&nbsp;(386) 252-9601&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center; text-decoration: underline"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><U>N/A</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif">(Former name or former address, if changed since last report)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Century Schoolbook; border-collapse: collapse">
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    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Item 2.02 </B></FONT></TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Results of Operations and Financial Condition.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">On April 15, 2013, Brown &amp; Brown, Inc.</FONT> <FONT STYLE="font-size: 12pt">issued a press release announcing its results of operations for the first quarter ended March 31, 2013. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">The information furnished herewith pursuant to Item&nbsp;2.02 of this Current Report shall not be deemed to be filed for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing</FONT>.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">BROWN &amp; BROWN, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 24pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 24pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">(Registrant)</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">By<FONT STYLE="text-transform: uppercase">:<U> &nbsp;&nbsp;&nbsp;/S/ CORY T. WALKER</U></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; text-align: justify; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cory T. Walker, Chief Financial Officer</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Date: April 15, 2013</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-99.1 CHARTER
<SEQUENCE>2
<FILENAME>erq1.htm
<DESCRIPTION>EARNINGS RELEASE
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<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0">&nbsp;</P>

<P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 0">&nbsp;</P>

<P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 0"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 105px; width: 126px"><FONT STYLE="font: normal 10pt Symbol">&acirc;</FONT><FONT STYLE="font-family: Rockwell,serif">&#9;<FONT STYLE="font-size: 20pt; font-style: normal"><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;&nbsp;&nbsp;News Release</B></FONT></FONT></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 3.5in; text-align: left; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Cory
T. Walker</FONT></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">April 15, 2013&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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&#9;</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>BROWN &amp;
BROWN, INC. ANNOUNCES RECORD QUARTERLY </B></FONT></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>NET INCOME
OF $60.1 MILLION</B></FONT></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">(<I>Daytona Beach and Tampa, Florida</I>) . . . Brown
&amp; Brown, Inc. (NYSE:BRO) today announced its preliminary, unaudited financial results for the first quarter of 2013.</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">Net income for the first quarter of 2013 was $60,131,000,
or $0.41 per share, compared with $49,433,000, or $0.34 per share for the same quarter of 2012, an increase of 21.6%. Total revenue
for the first quarter was $335,012,000, compared with 2012 first-quarter revenue of $302,486,000, an increase of 10.8%.</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal; color: black">J. Powell
Brown, President and Chief Executive Officer of the Company, noted, &#8220;</FONT>We are pleased to have surpassed a milestone
of $60 million of quarterly net income, and to have achieved a quarterly internal growth rate of our core commissions and fees
revenue of 10.2%.<FONT STYLE="color: black">&#8221; </FONT></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">Brown &amp; Brown, Inc., through its subsidiaries,
offers a broad range of insurance and reinsurance products and 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, the Company is ranked by <I>Business Insurance</I> magazine as the United States&#8217;
sixth largest independent insurance intermediary. The Company&#8217;s Web address is www.bbinsurance.com.</P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify"><FONT STYLE="color: black">This press release may
contain certain statements relating to future results which are forward-looking statements, including those relating to the Company's</FONT>
anticipated financial results for <FONT STYLE="color: black">the first quarter of 2013. These statements are not historical facts,
but instead represent only the Company&#8217;s current belief regarding future events, many of which, by their nature, are inherently
uncertain and outside of the Company&#8217;s control. It is possible that the Company&#8217;s actual results, financial condition
and achievements may differ, possibly materially, from the anticipated results, financial condition and achievements contemplated
by these forward-looking statements. </FONT>These risks and uncertainties include, but are not limited to, the Company's determination
as it finalizes its financial results for <FONT STYLE="color: black">the first quarter of 2013 </FONT>that its financial results
differ from the current preliminary unaudited numbers set forth herein, other factors that the Company may not have currently identified
or quantified, and other risks, relevant factors and uncertainties identified in the Company's Annual Report on Form 10-K for the
year ended December 31, 2012,</P>


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<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify">and <FONT STYLE="color: black">the Company&#8217;s
</FONT>other<FONT STYLE="color: black"> filings with the Securities and Exchange Commission. All forward-looking statements made
herein are made only as of the date of this release, and the Company 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 the Company hereafter becomes
aware. </FONT></P>

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<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><B><I># # #</I></B></P>

<P STYLE="font: 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0"></P>

<P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0">&nbsp;</P>




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<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 5.75pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Brown
&amp; Brown, Inc.</B></FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>CONSOLIDATED
STATEMENTS OF INCOME</B></FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(in thousands,
except per share data)</FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(unaudited)</FONT></P>

<P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify"><FONT STYLE="font-style: normal"><B>&nbsp;</B></FONT></P>

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        <P STYLE="font: italic bold 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
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        <P STYLE="font: italic 11.5pt CG Times Italic; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>For the</B></FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Three
        Months Ended</B></FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>March
        31,</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 62%; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><B><U>2013</U></B></FONT></TD>
    <TD STYLE="width: 17%; border-top: windowtext 1pt solid; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><B><U>2012</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold"><FONT STYLE="font: normal 11.5pt Rockwell,serif">REVENUES</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Commissions and fees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">$333,793</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">$296,533</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Investment income</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">186</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">135</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Other income, net</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right">&nbsp;&nbsp;&nbsp;<FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>
    1,033</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-align: right">&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Rockwell,serif; font-style: normal"><U> 5,818</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total revenues</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>335,012</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal"><U>302,486</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold"><FONT STYLE="font: normal 11.5pt Rockwell,serif">EXPENSES</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Employee compensation and benefits</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">159,498</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">149,596</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Non-cash stock-based compensation</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">3,850</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">3,747</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Other operating expenses</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">46,339</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">43,400</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Amortization</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">16,161</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">15,613</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Depreciation</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">4,167</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">3,641</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Interest</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">3,984</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">4,087</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Change in estimated acquisition earn-out payables</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0; text-align: right"><FONT STYLE="font-style: normal"><U>1,522</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 12pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 12pt Rockwell,serif; margin: 0; text-align: right"><FONT STYLE="font-style: normal"><U>(388)</U></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total expenses</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>235,521</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal"><U>219,696</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Income before income taxes</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">99,491</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal">82,790</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Income taxes</FONT></TD>
    <TD STYLE="padding-right: -1.55pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>39,360</U></FONT></TD>
    <TD STYLE="padding-right: -1.55pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal"><U>33,357</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Net income</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$ 60,131</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>$ 49,433</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Net income per share:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Basic</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$0.42</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>$0.34</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Diluted</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$0.41</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>$0.34</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Weighted average number of shares outstanding:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Basic</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>140,796</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>139,001</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Diluted</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>142,947</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>141,500</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Dividends declared per share</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$0.090</U></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font-family: Rockwell,serif; font-style: normal; text-underline-style: double"><U>$0.0850</U></FONT></TD></TR>
</TABLE>

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<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 5.75pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B></B></FONT></P>




<P STYLE="font: italic 11pt Rockwell,serif; margin: 0"></P>




<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 5.75pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Brown
&amp; Brown, Inc.</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>INTERNAL
GROWTH SCHEDULE</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Core Organic
Commissions and Fees<SUP>(1)</SUP></B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Three Months
Ended March 31, 2013</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(in thousands)</FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(unaudited)</FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: justify"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Rockwell; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Quarter</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Ended</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B><U>03/31/13</U></B></FONT></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Quarter</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Ended</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B><U>03/31/12</U></B></FONT></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Total</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Net</B></FONT></P>
        <P STYLE="font: bold 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><U>Change</U></P></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Total</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Net</B></FONT></P>
        <P STYLE="font: bold 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><U>Growth %</U></P></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Less</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Acquisition</B></FONT></P>
        <P STYLE="font: bold 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><U>Revenues</U></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Internal</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Net</B></FONT></P>
        <P STYLE="font: bold 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><U>Growth $</U></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Internal</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Net</B></FONT></P>
        <P STYLE="font: bold 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><U>Growth %</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font: normal 10pt Rockwell,serif">Retail<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$158,950</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$149,971</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$8,979</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">6.0%</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$7,830</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$1,149</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">0.8%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 8.1pt; font-style: normal; text-align: justify; text-indent: -8.1pt"><FONT STYLE="font: normal 10pt Rockwell,serif">National Programs</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">61,706</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">53,630</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">8,076</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">15.1%</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">1,483</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">6,593</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">12.3%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-weight: bold"><FONT STYLE="font: 10pt Rockwell,serif">Wholesale Brokerage</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">43,271</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">38,366</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">4,905</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 10pt Rockwell,serif">12.8%</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">1,547</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">3,358</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">8.8%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: justify"><FONT STYLE="font: normal 10pt Rockwell,serif">Services</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>42,605</U></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>25,762</U></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>16,843</U></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: center"><FONT STYLE="font: normal 10pt Rockwell,serif">65.4%</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>657</U></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>16,186</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">62.8%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 8.1pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold"><FONT STYLE="font: normal 10pt Rockwell,serif"><B>Total Core Commissions and Fees <SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double"><U>$306,532</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double"><U>$267,729</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double"><U>$38,803</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">14.5%</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double"><U>$11,517</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 8.1pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double"><U>$27,286</U></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal; text-underline-style: double">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">10.2%</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal"><B>Reconciliation
of Internal Growth Schedule</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal"><B>to
Total Commissions and Fees</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal"><B>Included
in the Consolidated Statements of Income</B></FONT></P>

<P STYLE="font: italic 11pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal"><B>For
the Three Months Ended March 31, 2013 and 2012</B></FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal">(in
thousands)</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal">(unaudited)</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Rockwell; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0; text-indent: 0.5in">&nbsp;</P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B>Quarter</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B>Ended</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B><U>03/31/13</U></B></FONT></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B>Quarter</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B>Ended</B></FONT></P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 9pt; text-align: center"><FONT STYLE="font-style: normal"><B><U>03/31/12</U></B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal"><FONT STYLE="font: normal 10pt Rockwell,serif">Total core commissions and fees<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$306,532</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif">$267,729</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 0.25in; font-style: normal; text-indent: -9pt"><FONT STYLE="font: normal 10pt Rockwell,serif">Profit-sharing contingent commissions</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 9pt; text-align: right">&nbsp;</P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-style: normal">25,039</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 9pt; text-align: right">&nbsp;</P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-style: normal">24,221</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 0.25in; font-style: normal; text-indent: -9pt"><FONT STYLE="font: normal 10pt Rockwell,serif">Guaranteed supplemental commissions</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 9pt; text-align: right">&nbsp;</P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-style: normal">2,222</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 12pt CG Times Italic; margin: 0 6pt 0 9pt; text-align: right">&nbsp;</P>
        <P STYLE="font: italic 10pt Rockwell,serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-style: normal">2,592</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal"><FONT STYLE="font: normal 10pt Rockwell,serif">Divested business </FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal; text-decoration: underline; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font: normal 10pt Rockwell,serif"><U>-</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif"><U>1,991</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 9pt; font-style: normal"><FONT STYLE="font: normal 10pt Rockwell,serif">Total commissions &amp; fees</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif; text-underline-style: double"><U>$333,793</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 10pt Rockwell,serif; text-underline-style: double"><U>$296,533</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center; text-indent: -0.25in"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Rockwell,serif; margin: 0 6pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 9pt"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">(1) Total core commissions and fees
are our total commissions and fees less (i) profit-sharing contingent </FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">commissions (revenues derived from
special revenue-sharing commissions from insurance companies based upon the volume and the growth and/or profitability of the business
placed with such companies during the prior year), (ii) guaranteed supplemental commissions (GSC) (revenues derived from special
revenue-sharing commissions from insurance companies based solely upon the volume of the business placed with such companies during
the current year),and (iii) divested business (commissions and fees generated from offices, books of business or niches sold by
the Company or terminated). </FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: italic 9pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">(2) The Retail segment includes
commissions and fees reported in the &#8220;Other&#8221; column of the Segment Information, which includes corporate and consolidation
items.</FONT></P>


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<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0"></P>




<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 5.75pt 0 0; text-align: center"><FONT STYLE="font-style: normal"><B>Brown
&amp; Brown, Inc.</B></FONT></P>

<P STYLE="font: bold 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center">CONSOLIDATED BALANCE SHEETS</P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(in thousands,
except per share data)</FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: center"><FONT STYLE="font-style: normal">(unaudited)</FONT></P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0">&nbsp;</P>

<P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11.5pt Rockwell; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: right">March 31,</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: right">December 31,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: right"><U>2013</U>&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: italic; text-align: right"><U>2012</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding-right: 6pt; padding-left: 5.4pt; font-style: normal; font-weight: bold; text-align: left"><FONT STYLE="font: normal 11.5pt Rockwell,serif">ASSETS</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 6pt; padding-left: 5.4pt; font-style: italic">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-right: 6pt; padding-left: 5.4pt; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Current assets:</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">$ 340,206</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">$ 219,821</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Restricted cash and investments</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">186,768</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">164,564</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Short-term investments</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">7,228</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">8,183</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Premiums, commissions and fees receivable</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">303,882</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">302,725</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Deferred income taxes</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">16,041</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">24,408</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Other current assets</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>27,488</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>39,811</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total current assets</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">881,613</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">759,512</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Fixed assets, net</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">73,067</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">74,337</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Goodwill</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">1,709,279</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">1,711,514</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Amortizable intangible assets, net</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">550,689</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">566,538</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Other assets</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>15,712</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>16,157</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total assets</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$3,230,360</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$3,128,058</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: italic">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-weight: bold; text-align: left"><FONT STYLE="font: 11.5pt Rockwell,serif">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Current liabilities:</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Premiums payable to insurance companies</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">$ 443,290</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">$ 406,704</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Premium deposits and credits due customers</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">25,343</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">32,867</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Accounts payable </FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">63,303</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">48,524</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Accrued expenses and other liabilities</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">85,285</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">79,593</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Current portion of long-term debt</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>93</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>93</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total current liabilities</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">617,314</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">567,781</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Long-term debt</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">450,000</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">450,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Deferred income taxes, net</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">244,883</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">237,630</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Other liabilities</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">58,907</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">65,314</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Shareholders&#8217; equity:</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;&nbsp;Common stock, par
        value $0.10 per share;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;&nbsp; authorized 280,000
        shares; issued and</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0"><FONT STYLE="font-style: normal">&nbsp;&nbsp;outstanding 143,990
        at 2013 and 143,878 at 2012 </FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">14,399</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>
        <P STYLE="font: italic 11.5pt Rockwell,serif; margin: 0 6pt 0 0; text-align: right"><FONT STYLE="font-style: normal">14,388</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">&nbsp;&nbsp;Additional paid-in capital</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">340,606</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif">335,872</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">&nbsp;&nbsp;Retained earnings</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>1,504,251</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>1,457,073</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">Total shareholders&#8217; equity</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>1,859,256</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif"><U>1,807,333</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal"><FONT STYLE="font: normal 11.5pt Rockwell,serif">&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders&#8217; equity</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$3,230,360</U></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 5.4pt; font-style: normal; text-decoration: underline; text-underline-style: double; text-align: right"><FONT STYLE="font: normal 11.5pt Rockwell,serif; text-underline-style: double"><U>$3,128,058</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: italic 11.5pt CG Times Italic; margin: 0 6pt 0 0">&nbsp;</P>


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