Brown & Brown Sub Acquires Florida Intracoastal Underwriters

Madoline Corporation, a subsidiary of Brown & Brown Inc. announced it has acquired the remaining 25 percent interest in Florida Intracoastal Underwriters, Limited Company (FIU), held by Trenwick America Reinsurance Corporation.

As a result of this transaction, FIU will now be wholly owned by this Brown & Brown subsidiary. The transaction is effective as of December 31, 2002.

FIU is a managing general agency specializing in insurance coverage for coastal and inland high-value condominiums and apartments. It has developed a specialty reinsurance facility to support the underwriting activities associated with these risks.