Key Takeaways Wholesale Brokerage provides earnings diversity and resilience across insurance cycles.Recurring commissions, acquisitions, and retention support sustainable expansion.Management projects Wholesale Brokerage as a key growth engine in 2025.Wholesale Brokerage is a cornerstone of Brown & Brown, Inc.’s (BRO) platform, providing earnings diversity and reinforcing the company’s resilience across insurance cycles. Its ability to generate consistent commissions while expanding into specialized market ...

Key Takeaways Arthur J. Gallagher's Brokerage unit generates a significant share of revenues and profits.Acquisitions, brand visibility, and integration enhance scale and competitive strength.Tech and data investments drive efficiency, client retention, and long-term growth.The Brokerage segment is the cornerstone of Arthur J. Gallagher & Co.’s (AJG) business, generating a significant share of revenues and profits. With a global footprint and a balanced mix of retail and wholesale operations, it anchors AJG ...

Key Takeaways WTW's Risk & Broking unit delivered strong organic growth in the quarter.The segment reported higher revenues and improved operating income.Margins strengthened as innovation and efficiency boosted performance.Willis Towers Watson Public Limited Company’s (WTW) Risk & Broking segment is central to the firm’s growth strategy because it acts as a direct link between clients and insurers, shaping recurring and diversified revenue streams.Risk & Broking segment drives growth momentum by translatin ...

SAN DIEGO, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired SelectQuote, Inc. (NYSE: SLQT) securities between September 9, 2020 and May 1, 2025. SelectQuote is an insurance broker which sells Medicare Advantage and other health insurance plans online and by telephone. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP ...

BEIJING, Sept. 02, 2025 (GLOBE NEWSWIRE) -- TIAN RUIXIANG Holdings Ltd. (Nasdaq: TIRX) (the “Company”) today announced that it will implement a reverse stock split of its ordinary shares at a ratio of five (5) to one (1), The Company’s ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market at that time under the same ticker symbol, TIRX, effective at the open of business on September 5, 2025. As part of the reverse stock split, the par value of the Company’s Class A and Cl ...

Core Viewpoint - A class action lawsuit has been filed against SelectQuote, Inc. for allegedly violating the False Claims Act by directing Medicare beneficiaries to insurers that compensated the company the most, rather than providing unbiased comparisons of insurance plans [1][2][3]. Group 1: Allegations and Legal Issues - The complaint alleges that SelectQuote failed to disclose that it directed Medicare beneficiaries to plans based on compensation rather than quality [2]. - SelectQuote is accused of not providing unbiased comparisons for Medicare Advantage plans and receiving illegal kickbacks from insurers [2]. - The U.S. Department of Justice filed a complaint stating that SelectQuote received "tens of millions of dollars" in illegal kickbacks from 2016 to 2021, leading to a significant drop in its stock price by 19.2% on May 1, 2025 [3]. Group 2: Class Action Participation - Shareholders interested in participating as lead plaintiffs in the class action must file their papers by October 10, 2025 [4]. - Shareholders can remain absent class members and still be eligible for recovery without participating in the case [4]. Group 3: Company Background - Robbins LLP is a law firm specializing in shareholder rights litigation, dedicated to helping shareholders recover losses and improve corporate governance since 2002 [5].

Financial Performance - FY25 revenue reached $1527 million, exceeding the original guidance of $1450 million[10] - Adjusted EBITDA for FY25 was $126 million, surpassing the original guidance of $105 million[10] - The Senior division achieved a full-year Adjusted EBITDA margin of 27%[10, 35] - Healthcare Services division generated over $25 million in Adjusted EBITDA[10] - FY26 revenue is projected to be between $1650 million and $1750 million, representing an 11% year-over-year increase at the midpoint[30, 50] - FY26 Adjusted EBITDA is projected to be between $120 million and $150 million, a 7% year-over-year increase at the midpoint[50] Senior Division - Agent productivity increased by 24% year-over-year[10] - Senior division's revenue to customer acquisition cost (CAC) multiple improved to 61x[13, 24] - Operating expense per policy in the Senior division decreased to $738[13] - Marketing expense per policy in the Senior division decreased to $394[13] Healthcare Services Division - Healthcare Services revenue grew to $743 million in FY25[17] - Healthcare Services Adjusted EBITDA increased to $25 million in FY25[17] - SelectRx membership reached 108,000[18] Capital Structure - Term debt was reduced from $683 million to $385 million[48]

Core Viewpoint - Arthur J. Gallagher & Co. has successfully completed the acquisition of AssuredPartners, enhancing its capabilities in the insurance brokerage sector and expanding its client offerings [1][2]. Company Overview - Arthur J. Gallagher & Co. is a global insurance brokerage, risk management, and consulting services firm headquartered in Rolling Meadows, Illinois, operating in approximately 130 countries [8]. - AssuredPartners is recognized as a leading U.S. insurance broker with a diverse client base across commercial property/casualty, specialty, employee benefits, and personal lines [2]. Transaction Details - The acquisition was financed through net proceeds from previously disclosed equity and debt financing transactions [3]. - The Compensation Committee approved $316.15 million in equity awards to 572 former AssuredPartners employees to aid in retention, with vesting schedules set for immediate and subsequent anniversaries [4]. Expected Benefits - The transaction is anticipated to deepen Gallagher's capabilities in niche practice groups such as Transportation, Energy, Healthcare, and Government Contractors [6]. - It aims to create new business opportunities by leveraging Gallagher's expertise, data analytics, and extensive product offerings [6]. - The acquisition is expected to be financially attractive, with estimated double-digit adjusted EPS accretion, including the impact of synergies [6].

Core Insights - Brown & Brown, Inc. has appointed Joia M. Johnson to its board of directors, bringing extensive experience from her previous roles at Hanesbrands Inc. and RARE Hospitality International, Inc. [1][2] Company Overview - Brown & Brown, Inc. is a leading insurance brokerage firm established in 1939, with over 700 locations and a workforce of more than 23,000 professionals [4]. Leadership and Governance - H. Palmer Proctor, Jr., lead independent director, highlighted Johnson's ability to navigate complexity and her experience on various publicly traded boards [2]. - J. Powell Brown, CEO, emphasized that Johnson's unique experience will significantly impact the board and support the company's growth strategy [2]. Joia M. Johnson's Background - Johnson served as Hanes' chief administrative officer from 2016 to 2021 and held multiple leadership roles from 2007 to 2021 [2]. - Prior to her tenure at Hanes, she was executive vice president and general counsel at RARE Hospitality International, Inc. from 2001 to 2007 [2]. Board Memberships - Johnson currently serves on the boards of Global Payments Inc., Sylvamo Corporation, and Regions Financial Corp., holding various committee memberships [3].

Financial Data and Key Metrics Changes - Total revenue grew by 13.8% to $60.3 million, with organic revenue growth of 10.6% [5][11] - Adjusted EBITDA increased by 40.7% to $15.1 million, with margins expanding to 25.1% [5][14] - Total written premiums rose by 14.4% to $450.3 million [5][9] Business Line Data and Key Metrics Changes - Insurance services grew by 16.5% to $55 million, while TWFG MGA grew by 2.7% to $1.6 million [9] - Renewal business within insurance services increased by 16.1%, while new business grew by 17.8% [10] - MGA experienced a shift with renewal business growing by 8.1%, while new business growth declined [11] Market Data and Key Metrics Changes - The personal lines market is softening, with expanding carrier capacity and moderating rate increases [6][29] - Retention rate remained at 89%, consistent with long-term averages [7][11] - Certain regions, such as Florida and Louisiana, are experiencing price deceleration, while Texas remains stable [35][36] Company Strategy and Development Direction - The company focuses on four strategic pillars: expanding national footprint, investing in agent productivity, enhancing technology infrastructure, and deepening carrier relationships [7] - AI-driven tools are being piloted to improve efficiency and responsiveness [8] - The company is actively pursuing M&A opportunities to support growth [16][50] Management's Comments on Operating Environment and Future Outlook - Management expects moderate rate increases in 2025 and is monitoring potential tariff impacts on costs [7] - The company remains confident in its ability to deliver long-term value despite a moderating rate environment [46] - Guidance for 2025 includes organic revenue growth of 11% to 14% and adjusted EBITDA margins between 21% and 23% [16][42] Other Important Information - Net income for the quarter was $9 million, up 30.1% year-over-year [14] - The company has $160 million in cash and a fully available credit revolver, providing flexibility for investments [16] Q&A Session Summary Question: Profit margins this quarter - Management explained that lower commission expense is due to lower commission revenues, with corporate store acquisitions contributing to margin expansion [19][20] Question: Changes in organic growth expectations - Management noted that the market conditions have softened, leading to more options for customers and impacting organic growth [28][30] Question: M&A contribution to revenue - Management clarified that M&A contributions depend on the timing of asset onboarding, with expectations for increased contributions in the second half of the year [48][50] Question: Future EBITDA margin expansion - Management indicated that continued EBITDA margin expansion is feasible, depending on future acquisitions and operational efficiencies [53][54] Question: MGA business and competition - Management discussed the competitive landscape in the E&S home insurance market and its impact on MGA's trajectory, noting that their core program remains stable [66][68]