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Brown & Brown, Inc. - BRO STOCK NEWS

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Brown & Brown, Inc. (NYSE: BRO) is a leading independent insurance intermediary based in Daytona Beach, Florida. Through its licensed subsidiaries, the company provides a broad range of insurance products and services to a diverse clientele that includes corporate, public entities, institutional, trade, professional associations, and individual clients.

Brown & Brown operates through four major business divisions: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment is the largest, generating over half of the company's revenue by offering a variety of insurance solutions directly to consumers and businesses. The National Programs segment, which contributes about a fourth of the revenue, specializes in professional liability coverage and other niche insurance products. The Wholesale Brokerage and Services segments further broaden the company's reach and capabilities in the insurance market.

In a highly competitive environment, Brown & Brown thrives due to its unique corporate culture, which emphasizes vision, speed, agility, and strength. This culture empowers its team to quickly identify and act on new opportunities, ensuring the company remains at the forefront of the industry. Brown & Brown's commitment to customer satisfaction and service excellence is reflected in its continuous investment in training, mentoring, and providing the necessary tools for its employees to succeed.

Recently, the company announced a strategic realignment, consolidating its segments into three main divisions: Retail, Programs, and Wholesale Brokerage, beginning in 2024. This move follows the divestiture of certain businesses within the Services segment in the fourth quarter of 2023, aimed at enhancing operational efficiency and focus.

Financially, Brown & Brown is robust, with a revenue model primarily based on commissions from insurance companies and direct fees from customers, minimizing underwriting risk exposure. While the majority of its operations are within the United States, the company has a significant presence in Florida, contributing to its substantial market share.

Brown & Brown's latest updates and achievements continue to demonstrate its solid performance and strategic growth, making it a key player in the insurance industry. For more information or the latest news, you can contact R. Andrew Watts, the Chief Financial Officer, at (386) 239-5770.

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Brown & Brown has been named one of the 2024 Best Workplaces for Millennials by Great Place To Work® and Fortune Magazine. This recognition is based on feedback from nearly 510,000 millennial employees across eligible companies. To qualify, companies needed to be Great Place To Work Certified™ and have at least 50 millennial employees in the U.S.

Key points:

  • The list is highly competitive and reflects a comprehensive workplace experience
  • Selection criteria include positive outcomes for millennial employees regardless of demographics
  • Brown & Brown values diverse perspectives and considers its team its most important resource
  • The company was also awarded the 2023-2024 Platinum Level Bell Seal for Workplace Mental Health and has been Great Place to Work Certified™ for five consecutive years
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Brown & Brown (NYSE: BRO) has announced a regular quarterly cash dividend of $0.13 per share. The dividend will be payable on August 14, 2024, to shareholders of record as of August 7, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders and maintaining a consistent dividend policy. The declaration of a regular dividend can be seen as a positive sign of the company's financial stability and confidence in its future cash flows.

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Brown & Brown (NYSE: BRO) will announce its 2024 second-quarter earnings on July 22, 2024, after the market closes.

Following the release, a conference call hosted by CEO J. Powell Brown and CFO R. Andrew Watts will take place on July 23, 2024, at 8:00 a.m. EDT. Investors can access the live broadcast and subsequent 14-day replay on the company's website.

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Gray Nester, Executive Vice President and Chief Information Officer of Brown & Brown, will deliver the keynote address at Insurity's Excellence in Insurance conference, scheduled for October 28-30 at OMNI Amelia Island Resort, Florida. Nester will share his expertise on transformative leadership, organizational culture, and connectivity, backed by his 25 years of experience in financial services and technology. Brown & Brown, the world's seventh-largest insurance brokerage, has been offering risk management solutions for 85 years. The conference aims to bring together over 300 experts from 115+ insurance companies and MGAs to discuss and generate innovative ideas for the P&C insurance sector.

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Brown & Brown, a leading insurance brokerage firm, announced the acquisition of McNamara Company, a family-owned agency established in 1970. McNamara, offering insurance solutions nationwide, will integrate with the Brown & Brown office in Phoenix. The transaction aims to enhance Brown & Brown's commercial and personal insurance lines, especially for franchise owners. McNamara's team will report to Scott Jones, Phoenix team leader. This acquisition reflects Brown & Brown's commitment to expanding its services and capabilities.

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Bridge Specialty Group, a niche-focused wholesale entity, has welcomed Public Entities of America (PEA) to its team. PEA, a leading brokerage in the public sector and risk management marketplace, will join Apex Insurance Agency, a part of Bridge Specialty. Michelle Hill, Apex’s vice president, and Karl Snearer, Apex’s president, praised the merger, highlighting PEA’s innovative risk solutions and talented professionals. This move aims to bolster Apex’s capabilities in serving the public sector across the United States.

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Brown & Brown, Inc. announced its first quarter 2024 results with total revenues of $1,258 million, a 12.7% increase, organic revenue growth of 8.6%, diluted net income per share of $1.02, and a quarterly dividend of $0.13 per share. The company reported increased income before income taxes, EBITDAC, and EBITDAC Margin - Adjusted, with net income reaching $293 million, a 24.2% increase compared to the prior year.
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Brown & Brown, Inc. (NYSE: BRO) acquires CHAPP and Citrus Insurance assets, expanding risk management services in Florida and the U.S. The agencies, founded in 1976, offer insurance solutions for agricultural businesses. The acquisition aims to enhance capabilities and provide innovative risk solutions.
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Brown & Brown, Inc. appoints David Putz and Niels Seebeck to the senior leadership team to drive business growth in the insurance solutions sector. Putz brings 25 years of experience from Zurich Insurance, while Seebeck has over 20 years of expertise in property insurance.
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Brown & Brown, Inc. (BRO) will release its 2024 first-quarter earnings on April 22, 2024. The investor update conference call will be hosted by the company's CEO and CFO on April 23, 2024. The call will be broadcast live on the company's website.
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FAQ

What services does Brown & Brown, Inc. provide?

Brown & Brown, Inc. offers a variety of insurance products and services across different segments including Retail, National Programs, and Wholesale Brokerage.

Where is Brown & Brown, Inc. headquartered?

Brown & Brown, Inc. is headquartered in Daytona Beach, Florida.

How does Brown & Brown, Inc. generate revenue?

The company generates revenue through commissions from insurance companies and direct fees from customers, with no underwriting risk exposure.

What is the focus of Brown & Brown’s National Programs segment?

The National Programs segment focuses on offering professional liability coverage and other specialized insurance products.

What recent changes has Brown & Brown, Inc. made to its business structure?

Brown & Brown announced a realignment of its business structure, consolidating into three main segments: Retail, Programs, and Wholesale Brokerage, starting in 2024.

What is unique about Brown & Brown's corporate culture?

Brown & Brown’s corporate culture emphasizes vision, speed, agility, and strength, enabling it to quickly seize new opportunities in the competitive insurance market.

Who are the primary clients of Brown & Brown, Inc.?

The company's clients include corporate entities, public entities, institutional clients, trade and professional associations, and individual clients.

What kind of training and support does Brown & Brown offer its employees?

Brown & Brown offers extensive training, mentoring, and the necessary tools to ensure the success of its employees.

Who is the Chief Financial Officer of Brown & Brown, Inc.?

R. Andrew Watts is the Chief Financial Officer of Brown & Brown, Inc.

How can I contact Brown & Brown, Inc. for more information?

For more information, you can contact R. Andrew Watts, the Chief Financial Officer, at (386) 239-5770.

Brown & Brown, Inc.

NYSE:BRO

BRO Rankings

BRO Stock Data

26.37B
285.25M
16.36%
74.26%
1.3%
Insurance Agencies and Brokerages
Finance and Insurance
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United States of America
DAYTONA BEACH