Brown & Brown Announces Realignment Of Retail Division - Quick Facts

(RTTNews) - Insurance company Brown & Brown, Inc. (BRO) announced a realignment of its retail division. The new structure is intended to be more agile and will further leverage Brown & Brown's national capabilities in order to deliver solutions to customers in its decentralized operating model and increase the opportunities for additional organic growth.

Brown & Brown believes the new structure will be more responsive in providing robust solutions for our customers and more effective in advancing sales in the face of sustained rate pressure in the property and casualty insurance markets.

The new structure will also concentrate Brown & Brown's efforts on certain focus areas across all retail division profit centers.

Brown & Brown's retail division will continue to operate as one division but, effective immediately, it will have six distinct regions under the direction of Brown & Brown's President and CEO Powell Brown.

As part of this new alignment, Richard Knudson, Jr., Thomas Huval, Anthony Grippa, Steve Denton and Barrett Brown, all of whom currently serve as senior vice presidents in the retail division, will join Charles Lydecker as regional presidents.

In his new role as regional president, Lydecker, who previously served as president of the retail division, will continue to report directly to Powell Brown.