DAYTONA BEACH, Fla., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) announces the addition of Kathleen A. Savio, former chief transformation officer of Zurich Insurance Group, to Brown & Brown's board of directors. H. Palmer Proctor, Jr., Brown & Brown's lead independent director and chair of the Nominating/Corporate Governance Committee of Brown & Brown's board of directors, said, "Kathleen joins us on the heels of an impressive career at Zurich spanning more than three decades. Her broad ...

DAYTONA BEACH, Fla., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Brown & Brown, Inc. (NYSE:BRO) announces that the board of directors has declared a regular quarterly cash dividend of $0.13 per share. The dividend is payable on February 14, 2024, to shareholders of record on February 2, 2024. About Brown & Brown, Inc. Brown & Brown, Inc. (NYSE:BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With approximately 16,000 teammates and 500+ locatio ...

Analysts on Wall Street project that Brown & Brown (BRO) will announce quarterly earnings of $0.53 per share in its forthcoming report, representing an increase of 6% year over year. Revenues are projected to reach $981.17 million, increasing 8.9% from the same quarter last year.The consensus EPS estimate for the quarter has undergone an upward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimate ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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) Florida 59-0864469 (State or other jurisdiction of inc ...

Brown & Brown, Inc. (NYSE:BRO) Q3 2023 Earnings Conference Call October 24, 2023 8:00 AM ET Company Participants Powell Brown - President & Chief Executive Officer Andrew Watts - Executive Vice President, Chief Financial Officer & Treasurer Conference Call Participants Michael Zaremski - BMO Mark Hughes - Truist Securities Robert Cox - Goldman Sachs Elyse Greenspan - Wells Fargo Meyer Shields - KBW Scott Heleniak - RBC Capital Markets Operator Good morning, and welcome to Brown & Brown, Incorporated's Third ...

37 (1) "Income Before Income Taxes Margin" is defined as income before income taxes divided by total revenues. (2) A non-GAAP financial measure. NMF = Not a meaningful figure The National Programs Segment's total revenue for the three months ended June 30, 2023 increased 25.5%, or $57.6 million, as compared to the same period in 2022, to $283.3 million. The $50.9 million increased in core commissions and fees revenue was driven by: (i) approximately $48.7 million of net new, renewal business, and fee revenu ...

Brown & Brown, Inc. (NYSE:BRO) Q2 2023 Earnings Conference Call July 25, 2023 8:00 AM ET Company Participants Powell Brown - President & Chief Executive Officer Andy Watts - Executive Vice President, Chief Financial Officer & Treasurer Conference Call Participants Weston Bloomer - UBS Michael Zaremski - BMO Capital Markets Gregory Peters - Raymond James Robert Cox - Goldman Sachs Mark Hughes - Truist Securities Elyse Greenspan - Wells Fargo Michael Ward - Citigroup Yaron Kinar - Jefferies Meyer Shields - Ke ...

© 2023 Brown & Brown, Inc. All rights reserved. 0 R This presentation and the statements made during our earnings call may contain certain statements relating to future results which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about possible or assumed future results of our ...

Amortizable intangible assets at March 31, 2023 and December 31, 2022 consisted of the following: | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|----------------------|---------------------------------------------|-------|----------------------|------------------------------------|----------------------|----------------------------|-----------|----------------------------------------|---------------------------------- ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.83, a growth of 7.8% compared to Q1 2022 [4] - Total revenues reached over $1.1 billion, growing 23% year-over-year, with organic growth of 12.6% [91] - Adjusted EBITDAC margin remained strong at 35.7% for the quarter [91] - The effective tax rate was 20%, up from 16.8% in the same quarter last year [102] Business Line Data and Key Metrics Changes - The Retail segment delivered organic growth of 8.8%, with an adjusted EBITDAC margin of 37%, slightly down due to GRP revenue phasing [117][123] - The Wholesale Brokerage segment achieved organic growth of 7%, with a slight contraction in adjusted EBITDAC margin due to higher salaries and related costs [118][124] - The Program Segment saw nearly 34% organic growth, driven by new business rate increases and claims processing revenue from Hurricane Ian [97] Market Data and Key Metrics Changes - The insurance marketplace remains challenging, with rate increases across most lines of coverage, particularly in admitted markets (up 5% to 7%) and excess and surplus markets (up 10% to 20%) [93] - Workers' compensation rates continue to decline, while E&S professional liability rates have moderated, with some rates decreasing by 10% or more [5] Company Strategy and Development Direction - The company is focused on identifying high-quality acquisitions that fit culturally and financially, maintaining a strong M&A pipeline [13][96] - The company anticipates lower organic growth in the second half of the year compared to the same period last year due to a more comparative basis for captives [10] - The company is optimistic about its ability to retain and increase capacity, which is crucial for delivering incremental organic growth [106] Management's Comments on Operating Environment and Future Outlook - Management noted that business leaders are cautious regarding hiring and investing due to inflation and interest rate increases, but most customers are prospering [12][113] - The company expects the impact of legal reforms in Florida's insurance market to be positive in the long term, although improvements may take time [115] - Management expressed confidence in the company's performance and growth prospects, highlighting strong new business wins and customer retention [127] Other Important Information - The company completed seven acquisitions with estimated annual revenues of $11 million [4] - The company generated approximately $60 million in cash flow from operations in Q1, with plans for further debt repayments [150] Q&A Session Summary Question: What is the outlook for margin expansion for the full year? - Management indicated that the 40 basis points headwind from GRP in Retail will reverse in the latter part of the year, contributing positively to margins [133][157] Question: Are there any economic pressures in Florida affecting the business? - Management noted that while construction is booming and businesses are generally doing well, different industries face varying levels of inflation impacting their margins [160] Question: How are the captive revenues expected to perform? - Captive revenues are expected to deliver $30 million to $35 million for the year, with approximately $10 million recognized in Q1 [149][178]