What is brown and brown insurance

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Brown & Brown, Inc. (Brown & Brown Insurance or B&B) is an American provider of insurance, reinsurance products, and federal programs services to general business, corporate, governmental, quasi-governmental, institutional, professional, trade association, and individual clients. Its headquarters are in Daytona Beach, Florida.

What is brown and brown insurance
Brown & Brown, Inc.

Trade name

Brown & Brown InsuranceTypePublic company

Traded as

  • NYSE: BRO
  • S&P 500 component

ISINUS1152361010IndustryProperty & casualty insuranceFounded1939; 83 years ago (1939)[1]HeadquartersDaytona Beach, Florida, U.S.[2]

Key people

  • J. Powell Brown
  • (Director, President, & CEO)
  • R. Andrew Watts
  • (Executive Vice President & CFO)

Revenue
What is brown and brown insurance
US$3.051 billion (2021)[3]

Net income

What is brown and brown insurance
US$587.1 million (2021)[3]
Total assets
What is brown and brown insurance
US$9.79 billion (2021)[3]
Total equity
What is brown and brown insurance
US$4.19 billion (2021)[3]
OwnerJ. Hyatt Brown, 13.3%[4]

Number of employees

12,023 (2021)[3]Websitebbinsurance.com

In 2021 the company ranked as the fifth largest independent insurance intermediary organization in the U.S. and sixth largest in the world by Business Insurance magazine.[5]

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 the nation's sixth-largest insurance brokerage with offices nationwide.[6]

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.[7]

In June of 2022, Brown & Brown acquired Profits Creation, a vehicle dealer supplier, for an undisclosed sum.[8]

Brown & Brown extended their reach in the United Kingdom when they acquired Global Risk Partners in 2022. [9]

  1. ^ "Archived copy". Archived from the original on 2013-08-19. Retrieved 2013-03-31.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ "Brown & Brown Insurance – Investor Relations". investor.bbinsurance.com/.
  3. ^ a b c d e "US SEC Filing: Brown & Brown, Inc. Proxy". U.S. Securities and Exchange Commission. February 22, 2022. Retrieved July 14, 2022.
  4. ^ 2021 Proxy Statement
  5. ^ "BI Top 100".
  6. ^ "Daytona area's Hyatt Brown, Jim France make Forbes billionaires list". The Daytona Beach News-Journal. The Daytona Beach News-Journal. Retrieved 22 April 2021.
  7. ^ "Brown & Brown completes acquisition of Orchid & CrossCover - Reinsurance News". ReinsuranceNe.ws. 2022-04-01. Retrieved 2022-04-03.
  8. ^ di Palma, Giulia. "Brown & Brown's acquisition of Global Risk Partners". Global Legal Chronicle. Retrieved 2022-06-17.
  9. ^ Pangilinan, Mika. "Brown & Brown announces latest acquisition". www.insurancebusinessmag.com. Retrieved 2022-06-10.

  • Official website
  • Business data for Brown & Brown, Inc.:

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Growth has no finish line.

No matter where you are on your growth journey, we can help you find solutions to meet your ever-evolving insurance and risk management needs. If you are a highly complex multinational company, an individual or anything in between, our experienced teams can help every step of the way.

At Brown & Brown our team is built to deliver innovative solutions and superior service. Experience the personalized, dedicated service you deserve to help protect what you value most.

As a successful business, you plan for the future and adapt as circumstances change your course.  At Brown & Brown, we help you navigate the path forward, by taking a different approach to how you view, analyze and purchase insurance.

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Drawing on our experience across all industries, we develop comprehensive benefit programs that help recruit and retain talent, manage rising health care costs, elevate benefit communications and related technology and align strategies to support your organizational goals.

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Whether you already have significant financial assets or are on the road to high net worth, Brown & Brown’s Personal Insurance team offers comprehensive insurance for your lifestyle.

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By offering services specialized by industry focus and product knowledge, Brown & Brown can deliver innovative solutions to fit your business’s unique needs.

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