Brown & Brown

Brown & Brown, Inc.
Trade name	Brown & Brown Insurance
Company type	Public company
Traded as	NYSE: BRO; S&P 500 component;
ISIN	US1152361010
Industry	Property & casualty insurance
Founded	1939; 85 years ago
Headquarters	Daytona Beach, Florida, U.S.
Key people	J. Powell Brown; (Director, President, & CEO); R. Andrew Watts; (Executive Vice President & CFO);
Revenue	US$3.051 billion (2021)
Net income	US$587.1 million (2021)
Total assets	US$9.79 billion (2021)
Total equity	US$4.19 billion (2021)
Owner	J. Hyatt Brown, 13.3%
Number of employees	≈ 12,023 (December 2021)
Website	bbinsurance.com
	Footnotes / references;

Brown & Brown, Inc. (Brown & Brown Insurance) is an insurance brokerage firm, specialising in risk management. Headquartered in Daytona Beach, Florida, Brown & Brown has 450+ locations worldwide.

In 2021 the company ranked as the fifth largest independent insurance brokerage in the U.S. and sixth largest in the world by Business Insurance magazine.^[4]

History

Brown & Brown was co-founded by J. Adrian Brown in 1939. His son, J. Hyatt Brown, became CEO in 1961, a position he held until 2009. Under Hyatt, Brown & Brown expanded from a small local, family-owned insurance agency with a single office in Daytona Beach to one of the nation's largest insurance brokerages with offices nationwide.^[5]

Acquisition

In March 2022, it was announced Brown & Brown had completed the acquisition two property-focused insurance companies - Florida-based Orchid Underwriters Agency and Texas-based CrossCover Insurance Services.^[6]

In June of 2022, Brown & Brown acquired Profits Creation, a vehicle dealer supplier, for an undisclosed sum.^[7] Brown & Brown extended their reach in the United Kingdom when they acquired Global Risk Partners in 2022. ^[8]

In December 2023, Brown & Brown announced an agreement to acquire Caton-Hosey Insurance. This transaction strengthened Brown & Brown’s footprint in Florida. ^[9] The deal went through on 2 January 2024. ^[10]