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Brown & Brown revenue tops $1 billion
Brown & Brown Inc. posted a 1.4 percent jump in net income for 2011, the first year the company topped $1 billion in revenue.
The company said net income for the 12 months ended Dec. 31 was $164 million, or $1.13 a share, compared with $161.8 million, or $1.12 a share, for 2010.
The $1 billion in revenue for 2011 was 4.2 percent higher than revenue of $973.5 million in 2010, a statement from the company said.
Net income for the fourth quarter of 2011 was $36.5 million, or 25 cents a share, compared with $32...<div class="feedflare">
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BB&T to buy insurance brokerage Crump Group for $570M
<img src='http://assets.bizjournals.com/triad/post-BB&T*100.jpg?v=1'>BB&T Corp. has plans to buy the life insurance and property and casualty insurance divisions of New Jersey-based Crump Group Inc. for $570 million, according to an announcement.
BB&T (NYSE: BBT) expects the deal to add $300 million in revenue to its insurance business. The deal is subject to regulatory approval and is expected to close by the end of the first quarter. If approved, it would the top independent wholesale distributor of life insurance in U.S.
Wade Reece, chairman and chief executive of BB&T?s insurance business, said the acquisition will give BB&T the opportunity to be a strategic player in the high-growth, high-margin life insurance distribution business...<div class="feedflare">
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State health funds to boost Dayton groups
The Ohio Department of Health has awarded two grants worth a combined $65,000 to the Alcohol, Drug Addiction & Mental Health Services Board for Montgomery County.
One grant, worth $40,000, will go toward programs for mental health consultation, assessments and treatment of children from birth to 5 years old who are at risk of removal from their custodial home, are victims of abuse or neglect or are entering foster care. Those dollars also can be used to help educate biological and foster parents of children in the welfare system...<div class="feedflare">
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Dental Insurance Cos. List No. 1: Delta Dental of Arizona
This week?s edition of the Phoenix Business Journal, due out today, is ranking Arizona?s largest dental insurance companies by number of Arizona enrollees.
First on the list is Delta Dental of Arizona with 753,604 enrollees.
For a sneak peek at the rest of the top five, click here.
The dental insurance companies list, along with the list of Arizona hospices, is available to subscribers. Check out pages 15 and 18 of today?s paper. If you don?t subscribe, click here.
For a full year?s worth of Phoenix Business Journal research, check out our 2012 Book of Lists...<div class="feedflare">
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Former Johnson County legislator will lead restructured Kansas agency
Kansas Gov. Sam Brownback has appointed former Johnson County legislator Phyllis Gilmore to lead the newly named Department for Children and Families.
Brownback announced Gilmore as the department?s secretary on Friday as he unveiled an executive reorganization order that seeks a widespread reshuffling of departments to consolidate much of the financing and oversight of the state?s Medicaid program.
Gilmore has spent the past 11 years as executive director of the Kansas Behavioral Sciences Regulatory Board, which licenses most of the state?s mental health workers...<div class="feedflare">
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BB&T to acquire insurance brokerage Crump Group for $570M
<img src='http://assets.bizjournals.com/triad/post-BB&T*100.jpg?v=1'>BB&T Corp. has plans to acquire the life insurance and property and casualty insurance divisions of New Jersey-based Crump Group Inc. for $570 million, according to an announcement.
BB&T (NYSE: BBT) expects the deal to add $300 million in revenue to its insurance business. The deal is subject to regulatory approval and is expected to close by the end of the first quarter. If approved, it would the top independent wholesale distributor of life insurance in U.S.
Wade Reece, the chairman and CEO of BB&T?s insurance business, said the acquisition will give BB&T the opportunity to be a strategic player in the high-growth, high-margin life insurance distribution business...<div class="feedflare">
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Florida auto insurance reform clears Senate hurdle
<img src='http://assets.bizjournals.com/tampabay/news/iStock_Car-insurance-and-key*100.jpg?v=1'>The automobile insurance industry scored a small victory Thursday when the Florida Senate banking and insurance subcommittee approved a bill that would limit the types of health care clinics that could get reimbursements under the state?s personal injury protection law.
Senate Bill 1860 would amend the Florida Motor Vehicle No-Fault law, which requires drivers to carry $10,000 worth of personal injury protection. Insurance companies and law enforcement agencies favor changing the law because it has left the door open to insurance fraud and higher car insurance premiums...<div class="feedflare">
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Keystone Health Plan East seeking 10% rate increase
Keystone Health Plan East has filed a notice with the Pennsylvania Department of Insurance seeking approval to increase rates for its medically underwritten individual HMO plan options by an average of 9.8 percent.
The rate increase for the HMO plans offered by Keystone Health Plan East, a division of Independence Blue Cross, would affect 30,000 existing members and would produce additional income of about $7.1 million annually.
The requested effective date of the change is July 1. Unless the insurance department takes formal administrative action on the rate increase request prior to April 5, the filing will be deemed approved...<div class="feedflare">
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North Carolina's $2.6B health plan with Blue Cross up for bid
<img src='http://assets.bizjournals.com/triangle/images/Brad%20Wilson%20BCBSNC*100.jpg?v=2'>The State Health Plan, which paid $110 million to Blue Cross and Blue Shield of North Carolina last year, officially is up for grabs.
The plan covers 664,000 state employees and paid out $2.5 billion in claims last year.
The state asks insurance providers to stay quiet about the bids until they submit them. Some obvious contenders would be UnitedHealthcare and Aetna, but any major insurance carrier would be interested in a contract of this size.
The State Health Plan has been working on the request for proposals, the official term in seeking various bids, for months and says the provider ?must be able to demonstrate speed to market with new programs and an ability to bend the trend of health care costs,? according to the RFP...<div class="feedflare">
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JRMC expands services for women
<img src='http://assets.bizjournals.com/pittsburgh/news/Cunningham_Thomas_4x5*100.jpg?v=1'>Jefferson Regional Medical Center continued to expand its women?s health services with the hiring of a fifth gynecologist.
Dr. Thomas J. Cunningham has joined the practice of Anthony Gentile, MD and Associates. Previously, he was an attending physician at Wishard Memorial Hospital in Indianapolis and assistant clinical professor in the Department of Obstetrics & Gynecology at Indiana University School of Medicine.
Cunningham received a medical degree from the University of Pittsburgh School of Medicine and a bachelor?s degree in biology from the University of Maryland...<div class="feedflare">
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