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Brown & Brown Spends $101M For Acquisitions; Adds Monarch

Brown & Brown revealed it spent more than $101 million for 11 acquisitions made during the first half of this year, and announced the acquisition of Monarch Management Corporation, adding it to the li

By Mark E. Ruquet | Updated on August 15, 2006

Brown & Brown revealed it spent more than $101 million for 11 acquisitions made during the first half of this year, and announced the acquisition of Monarch Management Corporation, adding it to the list.

The Daytona Beach, Fla., insurance brokerage firm said in a Securities & Exchange Filing that of the $101 million, $87 million was in cash payments and $11 million was the assumption of debt. The broker said it issued $3.5 million in notes related to the acquisitions.

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