Acquisition Method for Recording Business Combinations |
During 2012, we acquired
substantially all of the net assets of the following firms in
exchange for our common stock and/or cash. These acquisitions have
been accounted for using the acquisition method for recording
business combinations (in millions except share
data):
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Name and
Effective Date
of
Acquisition
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Common
Shares
Issued |
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Common
Share
Value |
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Cash
Paid |
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|
Accrued
Liability |
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Escrow
Deposited |
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Recorded
Earnout
Payable |
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Total
Recorded
Purchase
Price |
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|
Maximum
Potential
Earnout
Payable |
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(000s |
) |
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Riley &
Associates, Inc. January 1, 2012
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64 |
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$ |
1.9 |
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$ |
0.7 |
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$ |
— |
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$ |
0.3 |
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$ |
1.2 |
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$ |
4.1 |
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$ |
1.6 |
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Detlefs & Company
Benefit Resources, LLC February 1, 2012
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52 |
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1.7 |
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0.6 |
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— |
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0.1 |
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—
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2.4 |
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1.4 |
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First Premium Insurance
Group, Inc. February 1, 2012
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599 |
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19.9 |
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0.4 |
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— |
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1.0 |
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2.8 |
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24.1 |
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7.0 |
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Gary Johnson &
Associates, Inc. February 1, 2012
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55 |
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1.8 |
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0.7 |
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— |
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0.1 |
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0.3 |
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2.9 |
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1.4 |
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ProSource Financial, LLC
February 1, 2012
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207 |
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7.3 |
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6.7 |
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— |
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0.5 |
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1.3 |
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15.8 |
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9.5 |
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BenefitLink Resource Group,
Inc. March 1, 2012
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357 |
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12.3 |
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— |
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— |
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0.5 |
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6.0 |
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18.8 |
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8.0 |
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Human Resource Management
Systems, LLC March 1, 2012
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143 |
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5.0 |
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1.7 |
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— |
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0.1 |
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1.8 |
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8.6 |
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5.3 |
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Wischmeyer Financial, LP
March 1, 2012
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142 |
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4.9 |
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1.6 |
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— |
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0.1 |
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1.4 |
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8.0 |
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5.5 |
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Besselman & Little
Agency, LLC April 1, 2012
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195 |
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7.0 |
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2.4 |
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— |
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0.1 |
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1.2 |
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10.7 |
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4.6 |
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Schiff, Kreidler-Shell
Insurance and Risk Services (SKS) April 1, 2012
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744 |
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27.6 |
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13.3 |
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— |
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—
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1.4 |
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42.3 |
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18.5 |
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CGM Gallagher Group Limited
(CGM) April 1, 2012
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— |
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— |
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12.0 |
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— |
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— |
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— |
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12.0 |
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— |
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VEBA Service Group, LLC
May 1, 2012
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162 |
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5.8 |
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2.0 |
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— |
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0.1 |
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1.4 |
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9.3 |
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4.2 |
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Professional Claims
Managers, Inc. May 1, 2012
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175 |
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5.4 |
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2.2 |
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— |
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0.6 |
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1.3 |
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9.5 |
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3.9 |
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Insurance Dialogue Limited
(IDL) May 1, 2012
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— |
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— |
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26.7 |
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— |
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— |
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— |
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26.7 |
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— |
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Name and Effective
Date
of
Acquisition
|
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Common
Shares
Issued |
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Common
Share
Value |
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Cash
Paid |
|
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Accrued
Liability |
|
|
Escrow
Deposited |
|
|
Recorded
Earnout
Payable |
|
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Total
Recorded
Purchase
Price |
|
|
Maximum
Potential
Earnout
Payable |
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(000s |
) |
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Grossman &
Associates, Inc.
June 1, 2012
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99 |
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$ |
3.3 |
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$ |
— |
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$ |
— |
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$ |
0.1 |
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$ |
0.6 |
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$ |
4.0 |
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$ |
5.6 |
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Broker Benefit Services,
LLC
June 1, 2012
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180 |
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6.2 |
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2.1 |
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—
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0.1 |
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0.8 |
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9.2 |
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4.0 |
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Whitehaven Insurance Group,
Inc.
June 1, 2012
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75 |
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2.6 |
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0.6 |
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—
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0.2 |
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0.7 |
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4.1 |
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1.6 |
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Contego Underwriting
Limited
July 1, 2012
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— |
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— |
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7.1 |
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— |
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— |
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4.8 |
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11.9 |
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6.3 |
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Grace/Mayer Insurance
Agency, Inc. (GMI)
July 1, 2012
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549 |
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19.5 |
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1.5 |
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— |
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2.6 |
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2.6 |
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26.2 |
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7.0 |
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G.S. Chapman &
Associates Insurance Brokers, Inc. (GSC)
July 1, 2012
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905 |
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28.6 |
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7.0 |
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— |
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6.7 |
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3.2 |
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45.5 |
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19.5 |
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Miller Buettner &
Parrott, Inc.
July 1, 2012
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127 |
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4.4 |
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1.5 |
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— |
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0.1 |
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1.7 |
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7.7 |
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6.0 |
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Triad USA, Inc.
July 1, 2012
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164 |
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5.6 |
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1.9 |
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— |
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0.2 |
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1.5 |
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9.2 |
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7.3 |
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Blenheim Park Ltd.
(BPL)
August 1, 2012
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254 |
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9.1 |
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5.8 |
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— |
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— |
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12.0 |
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26.9 |
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17.2 |
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Sunday and Associates,
Inc.
August 1, 2012
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99 |
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3.3 |
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— |
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— |
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0.1 |
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0.9 |
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4.3 |
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2.6 |
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Acumus Limited (ACL)
September 21, 2012
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— |
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— |
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25.1 |
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5.5 |
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— |
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— |
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30.6 |
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— |
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Aires Consulting Group,
Inc.
October 1, 2012
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— |
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— |
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1.7 |
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— |
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0.2 |
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0.7 |
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2.6 |
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1.0 |
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Coyle Insurance Agency,
Inc.
October 1, 2012
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42 |
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1.2 |
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4.5 |
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— |
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0.3 |
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1.1 |
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7.1 |
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2.3 |
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Park Row Associates,
Inc.
October 1, 2012
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84 |
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3.0 |
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1.0 |
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— |
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— |
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— |
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4.0 |
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— |
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Polak International
Consultants, Inc.
October 1, 2012
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99 |
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3.6 |
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1.2 |
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0.8 |
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— |
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— |
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5.6 |
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— |
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Unison, Inc.
October 1, 2012
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53 |
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1.8 |
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5.7 |
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— |
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0.1 |
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1.9 |
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9.5 |
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3.9 |
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SRS Underwriting Agency PTY
Ltd. (SRS)
November 20, 2012
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— |
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— |
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38.4 |
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0.9 |
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|
— |
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6.2 |
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45.5 |
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8.3 |
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Name and Effective
Date
of
Acquisition
|
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Common
Shares
Issued |
|
|
Common
Share
Value |
|
|
Cash
Paid |
|
|
Accrued
Liability |
|
|
Escrow
Deposited |
|
|
Recorded
Earnout
Payable |
|
|
Total
Recorded
Purchase
Price |
|
|
Maximum
Potential
Earnout
Payable |
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(000s |
) |
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Ahrold Fay Rosenberg
December 1, 2012
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133 |
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$ |
3.8 |
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$ |
4.4 |
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$ |
— |
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$ |
0.9 |
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$ |
1.6 |
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$ |
10.7 |
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$ |
3.4 |
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Brendis & Brendis,
Inc.
December 1, 2012
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— |
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— |
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3.1 |
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— |
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0.1 |
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0.4 |
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3.6 |
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2.9 |
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Charter Lakes Marine
Insurance Agency
December 1, 2012
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— |
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|
— |
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7.9 |
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1.0 |
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0.9 |
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3.8 |
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13.6 |
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5.5 |
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Heiser Insurance Agency,
Inc.
December 1, 2012
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— |
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|
— |
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4.1 |
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|
— |
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0.5 |
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0.7 |
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5.3 |
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2.0 |
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Insurance Risk Managers of
Missouri, Inc.
December 1, 2012
|
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|
— |
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|
— |
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2.0 |
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|
— |
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0.2 |
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0.3 |
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2.5 |
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|
1.0 |
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Western Benefit Solutions,
LLC
December 1, 2012
|
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|
— |
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|
— |
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17.1 |
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|
— |
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0.1 |
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1.9 |
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19.1 |
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9.4 |
|
Argus Benefits (AB)
December 31, 2012
|
|
|
— |
|
|
|
— |
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19.0 |
|
|
|
— |
|
|
|
0.2 |
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5.7 |
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24.9 |
|
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10.3 |
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Corporate Benefit Advisors,
LLC
December 31, 2012
|
|
|
— |
|
|
|
— |
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|
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8.8 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
1.3 |
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|
10.2 |
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7.1 |
|
The Eriksen Group,
Inc.
December 31, 2012
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|
— |
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|
|
— |
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5.0 |
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|
|
— |
|
|
|
0.1 |
|
|
|
0.8 |
|
|
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5.9 |
|
|
|
3.4 |
|
Gardner & White
Corporation
December 31, 2012
|
|
|
— |
|
|
|
— |
|
|
|
16.5 |
|
|
|
— |
|
|
|
1.0 |
|
|
|
5.7 |
|
|
|
23.2 |
|
|
|
8.0 |
|
Hardman & Howell
Benefits
December 31, 2012
|
|
|
— |
|
|
|
— |
|
|
|
11.6 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
1.0 |
|
|
|
12.7 |
|
|
|
5.3 |
|
Eighteen other acquisitions
completed in 2012
|
|
|
208 |
|
|
|
7.0 |
|
|
|
20.2 |
|
|
|
— |
|
|
|
0.7 |
|
|
|
5.6 |
|
|
|
33.5 |
|
|
|
13.4 |
|
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|
|
|
|
|
5,966 |
|
|
$ |
203.6 |
|
|
$ |
295.8 |
|
|
$ |
8.2 |
|
|
$ |
19.1 |
|
|
$ |
87.6 |
|
|
$ |
614.3 |
|
|
$ |
235.2 |
|
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|
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