brown & brown News

Florida-Based Brown & Brown Reports Stronger Profits for 2024

DAYTONA BEACH, Fla. (AP) — Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $210 million, down from 2023’s Q4 results, but year-end results for 2024 were well above 2023’s numbers. On a per-share basis, the Daytona …

Brown & Brown Acquires UK Employee Benefits Specialist Drewberry

Employee benefits specialists Drewberry has been acquired by Brown & Brown (Europe) Ltd. The terms of the deal are undisclosed. Founded in 2009 by Andrew Jenkinson and Tom Conner, Brighton and London-based Drewberry offers employee benefits solutions, workplace pension support, …

Brown & Brown Agrees to Buy Dutch Insurance Broker, Quintes Holding B.V.

Brown & Brown Inc. announced it has entered into an agreement to acquire Quintes Holding B.V., a Netherlands-based insurance group. Brown & Brown acquired Quintes from the private investment firm Aquiline Capital Partners (which purchased a majority stake in Quintes …

Brown & Brown Acquires Assets of Northeast Dealer Services Firm, DealerMax

Insurance agency Brown & Brown announced that its dealer services division has acquired the assets of DealerMax. DealerMax, founded in 1982 by Jim Maxim, Sr. as Maxim Automotive, serves car dealer customers in Pennsylvania and throughout the Northeast offering finance …

Another Banner Year Seen by 5 Publicly Traded Insurance Brokers in 2023

Five of the largest publicly traded insurance brokers — Marsh & McLennan Cos., Aon, Arthur J. Gallagher, WTW and Brown & Brown – reported generally strong revenues in 2023, with annual increases ranging from 7% (Aon) to 18% (Arthur J. …

Brown & Brown’s Q4 Profit Jumps on Robust Growth in Fee, Investment Income

Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns. The insurance industry typically enjoys stable demand for its products regardless of the …

5 Brokers Report Strong Revenues During Q3 as Favorable Market Climate Continues

Five publicly traded insurance brokers reported strong third quarter revenues, with their executives using adjectives such as “outstanding,” “terrific,” “excellent,” and “strong” to describe their companies’ financial performances. In a wrap-up of the brokers’ results, listed in descending order by …

Brown & Brown to Acquire Wholesale Broker New England Excess Exchange

Florida-based global insurance broker Brown & Brown, Inc. has agreed to acquire Vermont-based wholesale broker New England Excess Exchange (NEEE). The acquisition will be through Bridge Specialty Group, the wholesale insurance division of Brown & Brown with more than 25 …

Brown & Brown Won’t Get Change of Venue in Coverage Gap Lawsuit by Property Firm

Daytona Beach-based Brown & Brown Insurance, often called one of the largest and fastest-growing insurance brokerages in the United States, has lost a round in its legal battle with one of its largest clients, a Florida property management firm. The …

Brown & Brown Reports Q4 Net Income of $145M

Brown & Brown Inc. (BRO) on Monday reported fourth-quarter net income of $145.2 million. The Daytona Beach, Florida-based insurance brokerage said it had profit of 51 cents per share. Earnings, adjusted for non-recurring gains, came to 50 cents per share. …