BROWN & BROWN INC

Ticker: BRO CUSIP: 115236101 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q1 2020

Shares 43,890 Value ($000) $1,590 Avg Close $40.59 Range $29.50 - $46.78

Q4 2019

Shares 43,300 Value ($000) $1,709 Avg Close $35.99 Range $33.47 - $38.75

Q3 2019

Shares 42,830 Value ($000) $1,544 Avg Close $34.20 Range $31.99 - $35.60

Q2 2019

Shares 42,920 Value ($000) $1,438 Avg Close $30.24 Range $28.15 - $32.00

Q1 2019

Shares 42,760 Value ($000) $1,262 Avg Close $27.17 Range $24.91 - $28.69

Q4 2018

Shares 55,710 Value ($000) $1,535 Avg Close $26.83 Range $24.42 - $28.25

Q2 2018

Shares 53,730 Value ($000) $1,490 Avg Close $25.69 Range $22.93 - $27.05

Q1 2018

Shares 70,200 Value ($000) $1,786 Avg Close $24.58 Range $23.27 - $25.37

Q4 2017

Shares 35,100 Value ($000) $1,806 Avg Close $23.56 Range $22.50 - $24.62

Q3 2017

Shares 35,100 Value ($000) $1,691 Avg Close $20.98 Range $19.74 - $22.93

Q2 2017

Shares 44,400 Value ($000) $1,912 Avg Close $19.99 Range $19.12 - $20.80

Q1 2017

Shares 53,280 Value ($000) $2,223 Avg Close $20.11 Range $19.39 - $21.23

Q4 2016

Shares 52,390 Value ($000) $2,350 Avg Close $18.83 Range $16.72 - $21.16

Q3 2016

Shares 52,220 Value ($000) $1,969 Avg Close $17.08 Range $16.49 - $17.61

Q2 2016

Shares 51,460 Value ($000) $1,928 Avg Close $16.34 Range $15.71 - $17.26

Q1 2016

Shares 38,390 Value ($000) $1,374 Avg Close $14.72 Range $12.98 - $16.48

Q4 2015

Shares 37,420 Value ($000) $1,201 Avg Close $14.60 Range $13.84 - $15.12

Q3 2015

Shares 36,720 Value ($000) $1,137 Avg Close $14.92 Range $13.51 - $15.75

Q2 2015

Shares 36,980 Value ($000) $1,215 Avg Close $14.82 Range $14.29 - $15.34

Q1 2015

Shares 35,700 Value ($000) $1,182 Avg Close $14.58 Range $13.73 - $15.08

Q4 2014

Shares 38,520 Value ($000) $1,268 Avg Close $14.46 Range $13.90 - $15.05

Q3 2014

Shares 33,700 Value ($000) $1,083 Avg Close $14.20 Range $13.44 - $15.03

Q2 2014

Shares 33,000 Value ($000) $1,013 Avg Close $13.44 Range $12.61 - $13.96

Q1 2014

Shares 33,000 Value ($000) $1,015 Avg Close $13.68 Range $12.39 - $14.62

Q4 2013

Shares 32,500 Value ($000) $1,020 Avg Close $14.08 Range $12.34 - $14.94

Q3 2013

Shares 19,500 Value ($000) $626 Avg Close $14.46 Range $13.54 - $15.53

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	43,890	$1,590	$40.59	$29.50 - $46.78
Q4 2019	43,300	$1,709	$35.99	$33.47 - $38.75
Q3 2019	42,830	$1,544	$34.20	$31.99 - $35.60
Q2 2019	42,920	$1,438	$30.24	$28.15 - $32.00
Q1 2019	42,760	$1,262	$27.17	$24.91 - $28.69
Q4 2018	55,710	$1,535	$26.83	$24.42 - $28.25
Q2 2018	53,730	$1,490	$25.69	$22.93 - $27.05
Q1 2018	70,200	$1,786	$24.58	$23.27 - $25.37
Q4 2017	35,100	$1,806	$23.56	$22.50 - $24.62
Q3 2017	35,100	$1,691	$20.98	$19.74 - $22.93
Q2 2017	44,400	$1,912	$19.99	$19.12 - $20.80
Q1 2017	53,280	$2,223	$20.11	$19.39 - $21.23
Q4 2016	52,390	$2,350	$18.83	$16.72 - $21.16
Q3 2016	52,220	$1,969	$17.08	$16.49 - $17.61
Q2 2016	51,460	$1,928	$16.34	$15.71 - $17.26
Q1 2016	38,390	$1,374	$14.72	$12.98 - $16.48
Q4 2015	37,420	$1,201	$14.60	$13.84 - $15.12
Q3 2015	36,720	$1,137	$14.92	$13.51 - $15.75
Q2 2015	36,980	$1,215	$14.82	$14.29 - $15.34
Q1 2015	35,700	$1,182	$14.58	$13.73 - $15.08
Q4 2014	38,520	$1,268	$14.46	$13.90 - $15.05
Q3 2014	33,700	$1,083	$14.20	$13.44 - $15.03
Q2 2014	33,000	$1,013	$13.44	$12.61 - $13.96
Q1 2014	33,000	$1,015	$13.68	$12.39 - $14.62
Q4 2013	32,500	$1,020	$14.08	$12.34 - $14.94
Q3 2013	19,500	$626	$14.46	$13.54 - $15.53