Brown & Brown, Inc. (BRO)

BRO 
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Brown & Brown Insurance (BRO)

2013 Annual Shareholders Meeting

May 08, 2013 9:00 am ET

Executives

J. Hyatt Brown - Chairman

Cory T. Walker - Chief Financial Officer, Principal Accounting Officer, Senior Vice President and Treasurer

J. Powell Brown - Chief Executive Officer, President and Director

Presentation

J. Hyatt Brown

Good morning. I'd like to welcome everyone to 2013 Annual Shareholders' Meeting of Brown & Brown. It's a pleasure to be here on such a brilliant, sunny day and the partner or the managing partner for our auditors, Deloitte & Touche, told me that this is the most beautiful setting for an annual meeting of any annual meetings he's ever been to, and I agree with him because it's beautiful at Daytona Beach, and thank you for those comments.

I'd like to start out by introducing our directors. First of all, I'm Hyatt Brown, I'm Chairman of Brown & Brown and I'd like for each director to stand and remain standing, and then if you'll hold your applause, we'll give them around of applause when we've introduced everyone.

Sam Bell, who is a shareholder of the law firm of Pennington, Moore, Wilkinson, Bell & Dunbar; Hugh Brown, Founder and former CEO of BAMSI, an insuring and technical services company; Powell Brown, who is President and CEO of Brown & Brown; Bradley Currey, former Chairman and CEO of Rock-Tenn Company; Ted Hoepner, former Vice Chairman, SunTrust Bank Holding Company; Timothy R. Main, Senior Managing Director, Evercore Partners, New York; Palmer Proctor, President of Fidelity Bank, who joined our Board in October 2012; Toni Jennings, former Lieutenant Governor and also chairman of Jack, Jennings & Son, a commercial construction firm based in Orlando and Jennings & Jennings, architectural millwork firm based in Orlando; and Wendell Reilly, Chairman of Berman Capital Advisors, Managing Partner, Grapevine Partners, LLC, a private equity investment firm focused on media and communications based in Atlanta; Chilton Varner, partner of the law firm of King & Spalding; John Riedman who has been -- is retiring and has been serving on our Board with great distinction for 12 years; and a new nominee, James S. Hunt, Jim Hunt, who is the former Executive Vice President and Chief Financial Officer of Walt Disney Parks and Resorts worldwide . So let's give them a round of applause.

I'd like to thank our directors. We do have a very, very interested and capable Board of Directors, and they are very interested in the best interest of our shareholders, and it's been a pleasure to work with you all this year and looking forward to many years in the future.

I'd now like to introduce our officers who are subject to Section 16. First of all, Hyatt Brown, I'm Chairman of the Board; Powell Brown, President and Chief Executive Officer; Linda Downs, Chief Operating Officer and Regional President. If anyone is here -- most of our people are on the road today. If there's anyone here, as I introduce you -- because I see a couple in the audience. If you wouldn't mind standing. Roy Bridges, Regional President; Charlie Lydecker, Regional President; Scott Penny, Regional President and Chief Acquisitions Officer; Tony Strianese, Regional President; Sam Boone, Regional Executive Vice President; Ken Masters, Regional Executive Vice President; Chris Walker, Regional Executive Vice President; Cory T. Walker, Senior Vice President and Chief Financial Officer and Treasurer; Robert W. Lloyd, Vice President and General Counsel; Laurel Grammig, Vice President and Secretary, Chief Compliance and Regulatory Officer; and Rich Freebourn, Vice President. Now these are the officers who are subject to 16, and let's give them a round of applause.

I'd also like to introduce the officers not subject to Section 16. Kathy Colangelo, who is a Regional Vice President, Nick Dereszynski, Regional Vice President; Tony Grippa, Regional Vice President; Tommy Huval, Regional Vice President; Rich Knudson, Regional Vice President; and David Lotz, Vice President. So it's a pleasure to -- let's give those people a round of applause.

It's a pleasure to work with all of the people that have been introduced and are not here. As you know, we're a decentralized organization and our senior executives are on the road all the time, touching people, finding out how we can do a better -- even better job for our various customers and clients.

I'd also like to recognize the representatives of Deloitte & Touche. First, we have Peter Pruitt, who is the Managing Director of Florida and Puerto Rico. And if you'll rise please, and just wait -- hold your applause for the auditors; John Gordon, [ph] a partner, Deloitte & Touche; and Phil Micks [ph], Senior Manager. Let's give them a round of applause.

I'd also like to recognize the presence in the audience of Joan Greenfield, who is with American Stock Transfer -- and where you Joan? Right here. And she's the lady who's responsible for making sure all of our votes are correctly counted.

And then there are a couple of other people I'd like to recognize. First of all, my wife, Cici, is missing her first annual meeting ever, and the reason is, is one of our dear friends passed away and the funeral is this morning. So Cici is not here. But I would like to recognize Sherri Lloyd, who is Bob Lloyd's wife. And I would also like to recognize Brianna [ph] Walker, who is Cory Walker's daughter. Why don't you all stand up everybody, please?

Madame Secretary, would you please present the proof of due calling of the meeting?

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