DOW JONES NEWSWIRES

A Brown & Brown Inc. (NYSE:BRO) (BRO) unit will buy the property and casualty insurance brokerage business of JPMorgan Chase & Co.'s (NYSE:JPM) (JPM) JP Morgan Insurance Agency Inc. unit.

Financial terms of the deal weren't disclosed.

Brown & Brown (NYSE:BRO) , a Daytona Beach, Fla., insurance agency and brokerage firm, said the JP Morgan insurance company has annualized revenue of about $4 million and focuses on high-end clientele. It will continue to operate in Newark, Del., under the name Brown & Brown Private Client Group.

-Melissa Korn; 201-938-5400; AskNewswires@dowjones.com

    (END) Dow Jones Newswires   10-01-07 1446   Copyright (c) 2007 Dow Jones & Company, Inc.