NU Online News Service, Jan. 6, 1:28 p.m.EST

Jim W. Henderson, Brown & Brown's vice chairman and chiefoperating officer, will retire later this year, the firm said, alsoannouncing its first acquisition for 2010.

The Daytona Beach, Fla.-based insurance broker said lateyesterday that Mr. Henderson will retire in August and will notseek re-election to the board of directors in April.

During his 25-year career, Mr. Henderson served in variousleadership positions at Brown & Brown, including chieffinancial officer, profit center leader of its Daytona Beach retailoperations, senior vice president, executive vice president andpresident.

Prior to joining Brown & Brown, he served as senior vicepresident and treasurer of the Ormond Reinsurance Group.

"Throughout Jim's long and distinguished career with Brown &Brown, he has consistently provided the leadership and exhibitedthe drive and dedication that are the hallmarks of the 'best of thebest' within our company," Chairman J. Hyatt Brown said in astatement.

"As a result, his responsibilities increased commensurately withour company's growth over the past 25 years. His oversight andcounsel were critical components of the success of Brown &Brown, and his contributions as a company officer and a member ofour board will be missed. We wish him success in his continuing andfuture endeavors," he concluded.

J. Powell Brown, president and chief executive officer, calledMr. Henderson "a valued mentor, resource and example to many of ourleaders in the course of their advancement through the ranks of ourcompany. We are grateful for his contributions and the traditionsof hard work and developing people that characterized hisnoteworthy career with Brown & Brown."

A successor was not named.

The firm said it has acquired Alamo Insurance Group Inc. of SanAntonio, Texas. Financial terms were not released.

With annual revenues of approximately $4.3 million, AlamoInsurance Group provides property and casualty insurance, employeebenefits insurance, personal insurance, and risk managementproducts and services.

Brown said the Alamo Insurance Group team has expertise in avariety of industries, including school districts, governmentalentities, entertainment, transportation and construction. Alamo wasestablished in 1998.

J. Patrick "Pat" McMahan, chairman and chief executive officer,and G. Michael "Mike" Gilpin, president of Alamo Insurance, andtheir staff will continue to operate from their existing SanAntonio and McAllen, Texas locations under the Alamo InsuranceGroup name.