Brown & Brown Insurance of Nevada, Inc., the eighth largest independent insurance agency in America, recently merged with Layne & Associates and Harris Insurance, two well-known Las Vegas-based insurance agencies. The companies have formed one entity that operates as Brown & Brown Insurance of Nevada, Inc., working out of new offices located at 2340 Corporate Circle in Henderson.
“Our drive to be the best in Nevada led us to join forces with two of the largest and most respected insurance firms in the state. That alignment affords us a solid team of dedicated insurance professionals who now have national leverage,” said Kevin Lay, vice president of Brown & Brown’s Nevada operations.
Both Layne & Associates and Harris Insurance were home-grown companies with unparalleled reputations for servicing their clients. Agency founders Bruce Layne and Jim Harris continue to play key roles at Brown & Brown. “We are continually evolving to meet the growing needs of our clients, who are now getting the best of both worlds – localized personal service with an unsurpassed breadth of insurance services. Our expansion into this new office space will begin a new era, as a single team working together in our new location,” said Layne.
The merger proved to have immediate effects, as Brown & Brown touts success in Southern Nevada. “We are proud that our newly formed insurance agency in Southern Nevada greatly contributed to Brown & Brown’s 2001 year-end results, reflecting nine straight years of record earnings,” said Harris. Brown & Brown recently announced record earnings for 2001. Net income rose to $53.9 million, or $0.85 per share, up 64.4 percent from 2000, when income was almost $32.8 million, or $0.53 per share. At the same time, total revenues were up 37.5 percent to $365 million, versus year 2000 revenues of $265 million.
Focusing on providing insurance products for large companies with a one-stop process, Brown & Brown specializes in the gaming industry and also in the homebuilding/construction industry, especially relating to construction defect issues. The firm provides a broad range of insurance products and services, as well as risk management, employee benefit administration and managed health care services through offices located across the United States. It is one of the largest independent insurance intermediaries in the nation, with over 60 years of continuous service.