American insurance company
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.
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References
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