Core Insights - Brown & Brown, Inc. has acquired the assets of Tim Parkman, Inc. (TPI), enhancing its position in the insurance brokerage market [1][2] Company Overview - TPI, established in 2002, is a full-service wholesale insurance brokerage based in Clinton, Mississippi, initially focused on personal lines and later expanding into commercial lines [2] - TPI serves over 5,000 retail agents using a proprietary technology platform to deliver superior service [2] - TPI will continue to operate under the leadership of President Mike Leach, with Tim Parkman remaining involved in the business [2] Strategic Fit - The acquisition is expected to complement Bridge Specialty Group's offerings, particularly in Mississippi and the Gulf States, enhancing its specialized product suite and distribution capabilities [3] - Steve Boyd, president of Bridge Specialty Group, expressed excitement about the integration of TPI into their operations [3] Bridge Specialty Group Profile - Bridge Specialty Group is a global insurance wholesaler with access to over 230 admitted, excess, and surplus lines, managing a premium book exceeding $7 billion [4] - The company operates more than 50 locations with a workforce of 2,000 across the U.S., U.K., Europe, and Asia, providing tailored insurance solutions through various practice groups [4] Brown & Brown, Inc. Profile - Brown & Brown, Inc. is a leading insurance brokerage firm with a global presence across 500+ locations and a team of over 17,000 professionals [5] - The company has been delivering customer-centric risk management solutions since 1939, focusing on scalable and innovative strategies for clients [5]

Financial Data and Key Metrics Changes - The company reported revenues of $1,400,000,000 for Q1 2025, representing an 11.6% increase in total revenue and a 6.5% organic growth compared to the same period last year [5][17] - Adjusted EBITDAC margin improved by over 100 basis points to 38.1%, and adjusted earnings per share grew over 13% to $1.29 [5][17] - Income before income taxes increased by 17.4%, and EBITDAC grew by 14.8% [17] - The effective tax rate for the quarter increased slightly to 21.8% from 19.5% in the prior year [17] Business Line Data and Key Metrics Changes - The Retail segment achieved total revenue growth of 12.5% with organic growth of 4.1% [20] - The Programs segment reported total revenues increasing by 10.1% and organic growth of 13.6% [22] - The Wholesale Brokerage segment had total revenues increase of 12% with organic growth of 6.7% [23] Market Data and Key Metrics Changes - Insurance pricing for most lines continued to see rate increases, although they are moderating slightly compared to last year [7][10] - Rates for U.S. Employee Benefits remained consistent with prior quarters, with medical and pharmacy costs up 7% to 9% [9] - Cat property rates declined between 10% to 25% during the quarter due to increased availability of capital [12] Company Strategy and Development Direction - The company continues to focus on M&A activity, completing 13 acquisitions with estimated annual revenues of $36,000,000 [5][13] - Management emphasized the importance of cultural alignment in acquisitions and expressed confidence in the company's strong balance sheet and cash flow [27] - The company aims to capture opportunities through broad diversification across geographies, customer sizes, and lines of coverage [28] Management's Comments on Operating Environment and Future Outlook - Management noted that economic expansion will be influenced by inflation, tariffs, and interest rates, with a cautious outlook from business leaders [6][25] - The company expects continued growth in the second quarter, driven by a stable economic backdrop despite potential ups and downs [28] - Management anticipates that rates for admitted and non-admitted lines will not see material changes, except for cat property, which may continue to decrease [26] Other Important Information - The company generated approximately $215,000,000 in cash flow from operations, an increase of $200,000,000 over the first quarter of the previous year [23][24] - The company deferred the payment of approximately $90,000,000 of federal income taxes, which will impact cash flow conversion in the second quarter [24] Q&A Session Summary Question: Impact of Quintas on retail margin and timing shift - Management indicated that about 60% of Quintas' revenues came in the first quarter, leading to higher margins in that quarter but lower margins in subsequent quarters [31] Question: Outlook for earned premium in captives - Management expects earned premium in captives to be slightly up over last year, with no significant organic growth anticipated in the following quarters [34] Question: Downward impact on organic growth from cat property pricing - Management clarified that the downward trend is not solely due to cat property pricing, as other factors are contributing to growth [42] Question: Outlook for flood business - Management expressed uncertainty regarding the federal flood program's reauthorization, indicating that it is critical for homeowners [59] Question: Cost of risk in Florida - Management noted that while costs for cat property are decreasing, overall costs for homeowners are increasing due to rising construction costs [66] Question: MGA business outlook - Management believes interest in the MGA business will continue due to the quality of underwriting and the potential for large chunks of premium [92] Question: Margin outlook for 2025 - Management confirmed that margins are expected to be flat for 2025 compared to 2024, with Q1 performance meeting expectations [102] Question: Non-cat property pricing equilibrium - Management stated that while non-cat property pricing appears stable, it is contingent on the upcoming hurricane season [116]

First Quarter 2025 Results April 28, 2025 Information Regarding Non-GAAP Measures This presentation contains references to "non-GAAP financial measures" as defined in SEC Regulation G, consisting of Organic Revenue, EBITDAC, EBITDAC Margin, EBITDAC - Adjusted, EBITDAC Margin - Adjusted, Income Before Income Taxes - Adjusted, Income Before Income Taxes Margin - Adjusted, Net Income Attributable To The Company - Adjusted and Diluted Net Income Per Share - Adjusted. We present these measures because we believe ...

Brown & Brown, Inc.’s (BRO) first-quarter 2025 adjusted earnings of $1.29 per share missed the Zacks Consensus Estimate by 0.7%. The bottom line, however, increased 13.2% year over year.The quarterly results reflected strong organic growth, improved EBITDAC margin and higher commission and fees, partly offset by higher expenses and lower investment and other income. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Q1 DetailsTotal revenues of $1.4 billion beat the Zacks Consensus Esti ...

Brown & Brown (BRO) Q1 2025 Earnings Call April 29, 2025 08:00 AM ET Company Participants Powell Brown - President & CEOAndrew Watts - EVP, CFO & TreasurerGregory Peters - Managing Director - Equity ResearchMeyer Shields - Managing DirectorCharlie Rodgers - Equity Research AssociateBrian Meredith - Managing DirectorElyse Greenspan - Managing Director Conference Call Participants Mark Hughes - AnalystMichael Zaremski - Managing Director & Senior Equity Research AnalystJoshua Shanker - Managing Director & Equ ...

Brown & Brown (BRO) reported $1.4 billion in revenue for the quarter ended March 2025, representing a year-over-year increase of 11.6%. EPS of $1.29 for the same period compares to $1.14 a year ago.The reported revenue represents a surprise of +0.14% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $1.30, the EPS surprise was -0.77%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Brown & Brown (BRO) came out with quarterly earnings of $1.29 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.77%. A quarter ago, it was expected that this insurance company would post earnings of $0.75 per share when it actually produced earnings of $0.86, delivering a surprise of 14.67%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13619 BROWN & BROWN, INC. (Exact name of Registrant as specified in its charter) FORM 10-Q (State or other jurisdiction of incorporation or organization) 300 North Beach Street, Daytona Beach, FL 32114 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...

Exhibit 99.1 Brown & Brown, Inc. announces first quarter 2025 results, including total revenues of $1.4 billion, an increase of 11.6%; Organic Revenue growth of 6.5%; diluted net income per share of $1.15; Diluted Net Income Per Share - Adjusted of $1.29; and a quarterly dividend of $0.15 per share Revenues for the first quarter of 2025 under U.S. generally accepted accounting principles ("GAAP") were $1.4 billion, increasing $146 million, or 11.6%, compared to the first quarter of the prior year, with comm ...

Brown & Brown, Inc. (BRO) is expected to register an improvement in its top and bottom lines when it reports first-quarter 2025 results on April 28, after the closing bell.The Zacks Consensus Estimate for BRO’s first-quarter revenues is pegged at $1.4 billion, indicating 11.4% growth from the year-ago reported figure.The consensus estimate for earnings is pegged at $1.30 per share. The Zacks Consensus Estimate for BRO’s first-quarter earnings has moved up 0.7% in the past 30 days. The estimate suggests a ye ...