Acquisition of Arrowhead General Insurance Agency, Inc. by Brown & Brown, Inc. Call - Brown & Brown, Inc. - Earnings Transcript
- Language: English
- Published: December 2011
Diverse product revenue in chosen niche specialty programs. History of producing low loss ratios, solidifying carrier interest in programs. Strong EBITDA margin. Moderately improved financial profile due to recent debt refinancing. Highly leveraged capital structure. Weak fixed-charge coverage. Earnings volatility in certain business segments due to economic and pricing cycles. High level of dependency on a few key business lines. Broker industry risks, including carrier consolidation, constricted access to carriers, and agent misconduct. The counterparty credit rating on Arrowhead General Insurance Agency Inc., a multiline general agent with a niche property/casualty (P/C) insurance focus, reflects its leveraged capital structure, low coverage metrics, high level of dependency on key business lines and disproportionate exposure to California. In addition, the company operates...
Companies mentioned in this report are: Arrowhead General Insurance Agency Inc.
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