Transaction Overview - Brown & Brown will acquire RSC for $9825 billion, funded by cash, new debt, and equity, with approximately 86% cash and 14% stock issued to RSC's ownership[28] - The acquisition is estimated to be mid-teens accretive to Brown & Brown's 2024 Diluted Net Income Per Share - Adjusted, based on targeted synergies and excluding one-time costs[23, 28] - Targeted run-rate synergies of $150 million are expected by the end of 2028, with one-time integration costs of $200 million to $250 million expected over the next three years[28] RSC (Accession) Financial Highlights - RSC's 2024 pro forma adjusted revenues are $17 billion and pro forma adjusted EBITDA is $600 million, with an EBITDA margin of approximately 35%[22, 25] - Accession has completed over 190 acquisitions since inception and has approximately 5,500 teammates across 200+ locations[23, 25] - Risk Strategies contributes approximately 70% and One80 Intermediaries contributes approximately 30% to RSC's FY 2024 revenue[25] Brown & Brown Financial Position - Brown & Brown generated $12 billion of cash flow from operations in 2024, a 16% increase over 2023[33] - The company targets a net debt outstanding to EBITDAC ratio of 0 - 25x and a total debt outstanding to EBITDAC ratio of 0 - 30x[34] - Brown & Brown's total revenues in 2024 were $4805 billion, with an EBITDAC Margin - Adjusted of 35%[30, 47]

Financial Performance Highlights - The company achieved an all-time high quarterly operating EPS of $3.17[47] - The annualized operating return on average common equity (ROACE) reached 19.2%[13, 35, 48] - The diluted book value per share hit a record of $66.48, marking a 16.4% increase over the past 12 months[48] - The company executed $440 million in share repurchases during the first quarter of 2025[19, 44, 47] Underwriting Performance - The current accident year combined ratio, excluding catastrophes and weather, improved to 87.9%, a 1.7 percentage point improvement year-over-year[48] - The insurance segment's gross premiums written (GPW) reached $1.7 billion, a 5% increase year-over-year, representing the highest first-quarter volume for the segment[33, 47] - Reinsurance segment GPW increased by 5% year-over-year to $1.1 billion, driven by new business in Professional Lines and Credit & Surety lines[33] Strategic Focus and Portfolio - The company's total capital stands at $7.2 billion, with a debt-to-total capital ratio of 18.2%[13] - The company's gross premiums written (GPW) is $9.1 billion[13, 22] - The company aims for a G&A ratio of less than 11% by 2026 through the "How We Work" program[38]

Core Points - The article emphasizes the importance of securing car insurance before purchasing a new vehicle, as dealerships require proof of insurance to complete the sale [1][16] - It outlines the different scenarios for obtaining insurance, whether the buyer has an existing policy or is purchasing a new one [3][4] Group 1: Insurance for New Car Buyers - Buyers without existing insurance must obtain quotes and purchase a policy before finalizing the car purchase [4][6] - Insurance premiums are influenced by various factors, including coverage options and limits, making it essential to compare quotes from different insurers [5][11] - New car buyers should ensure they have at least the state minimum coverage, with full coverage recommended for added protection [8][12] Group 2: Existing Policy Holders - Buyers with an existing auto insurance policy typically have a grace period of seven to 30 days to update their policy with the new vehicle information [8][9] - It is crucial to confirm with the insurer that the existing coverage extends to the new vehicle before completing the purchase [10][20] - Premiums may change when transferring coverage to a new vehicle due to differences in vehicle value and coverage adjustments [11][20] Group 3: Coverage Considerations - Buyers should assess their coverage needs based on factors such as financing, repair costs, and personal asset growth [12][13] - Common forms of insurance include liability, comprehensive, collision, and personal injury protection, with full coverage being a combination of these [13][18] - Additional coverage options like gap insurance and new car replacement can provide further financial protection [17][18] Group 4: Tips for Insuring a New Vehicle - It is advisable to shop around for quotes and assess coverage needs specific to the new vehicle [14][15] - Buyers should consider going beyond minimum coverage requirements to ensure adequate financial protection [14] - Discounts may be available from insurers, which can help reduce overall insurance costs [14]