8-K/AOther Events

BROWN & BROWN, INC. 8-K/A Report (Mar 19, 2001)

Filed March 19, 2001For Securities:BRO

Summary

This amended Form 8-K filing from BROWN & BROWN, INC. (BRO) provides the previously omitted financial statements and pro forma information related to their acquisition of certain assets from Riedman Corporation, which occurred on January 3, 2001. This filing is an amendment to an earlier Form 8-K filed on January 18, 2001, where it was stated that this information would be provided within 60 days. Investors can now review the audited financial statements of Riedman Insurance for the year ended December 31, 2000, and the pro forma condensed combined financial statements reflecting the acquisition's impact. This disclosure is crucial for understanding the financial implications of this strategic acquisition on Brown & Brown's overall financial position and future performance.

Key Highlights

  • 1Brown & Brown, Inc. has filed an amendment to its previous Form 8-K to include required financial statements and pro forma data for the Riedman Corporation asset acquisition.
  • 2The acquisition of Riedman Corporation's assets was initially reported on January 18, 2001.
  • 3Audited financial statements for Riedman Insurance (a division of Riedman Corporation) for the fiscal year ended December 31, 2000, are now included.
  • 4Unaudited pro forma condensed combined financial statements are provided to show the potential impact of the acquisition.
  • 5Key transaction documents such as the Asset Purchase Agreement and its amendment, along with a General Assignment and Bill of Sale, are listed as exhibits.
  • 6The filing includes the consent of KPMG LLP, the independent auditors.

Frequently Asked Questions

The primary purpose of this amended 8-K filing is to provide the complete financial statements of the acquired Riedman Insurance business and the pro forma financial information that was not included in the original 8-K filing dated January 18, 2001, due to impracticability at that time.

This amendment includes the audited financial statements of Riedman Insurance for the year ended December 31, 2000, and unaudited pro forma condensed combined financial statements that reflect the impact of the acquisition.

The acquisition of certain assets of Riedman Corporation was reported with an earliest event date of January 3, 2001, as indicated by the First Amendment to the Asset Purchase Agreement.

Details of the acquisition agreement can be found in Exhibit 10(a) (Asset Purchase Agreement) and Exhibit 10(b) (First Amendment to Asset Purchase Agreement) listed in this filing. The original Asset Purchase Agreement is incorporated by reference to Brown & Brown's Quarterly Report on Form 10-Q dated November 13, 2000.