Moody's affirms Brown & Brown's Baa3 senior debt rating, stable outlook
Rating Action: Moody's affirms Brown& Brown's Baa3 senior debt rating, stable outlook. Global Credit Research- 13 Dec 2017. Rated senior notes of $500 million, total borrowings of about $980 million at end of Q3 2017.Brown & Brown is an insurance agency, wholesale brokerage, insurance programs and service organization. The company's segments are: Retail, which provides a range of insurance products and services, and non-insurance risk-mitigating products; National Programs, which provides professional liability and related package products, a range of insurance products, and flood coverage, and targeted products and services; Wholesale Brokerage, which markets and sells excess and surplus commercial and personal lines insurance; and Services, which provides insurance-related services, including third-party claims administration and medical utilization management services, as well as Medicare Set-aside services.
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