The CEO of insurance broker Brown & Brown says cultural fitis the driving force behind insurance-agency acquisitions, andthose that make price their priority don't become partners of thefirm.

“Typically, when we talk to somebody, we see if there is acultural fit and then we try to figure out how to get to the priceor not, as opposed to they throw all the bones on the table andthey pick somebody,” said President and CEO J. Powell Brown,referring to agencies that lay out all the offers they get only topick the higest bidder.

Speaking during the Raymond James 34^th InstitutionalInvestors Conference earlier this week, Brown added, “When youthrow all the bones on the table up front, we're skeptical aboutthat.”

Brown says his brokerage seeks producers it thinks highly of,with expertise or markets Brown & Brown lacks.

The brokerage is seeking partners: people who will continue tolead the agency and have the leadership and talent toperform.

“We just want to get the best people on our team,” saidBrown.