Welcome to our dedicated page for Brown & Brown news (Ticker: BRO), a resource for investors and traders seeking the latest updates and insights on Brown & Brown stock.
Brown & Brown, Inc. (NYSE: BRO) is an insurance brokerage firm in the insurance agencies and brokerages industry, active in property, casualty and employee benefits insurance and related risk management services. This news page aggregates company-issued updates and other coverage so readers can follow developments that affect Brown & Brown’s operations, strategy and financial performance.
Recent news for Brown & Brown includes quarterly earnings announcements, details on segment reporting, leadership changes and acquisition activity. The company regularly issues press releases about its financial results, such as third-quarter performance metrics, Organic Revenue growth and non-GAAP measures like EBITDAC and EBITDAC Margin – Adjusted. These releases are often paired with information about investor conference calls and webcasts, allowing market participants to hear management’s commentary on business trends.
Brown & Brown also reports on corporate actions and strategic moves. Examples in the supplied materials include the acquisition of RSC Topco, Inc., the holding company for Accession Risk Management Group, and the acquisition of the assets of the J. Kevin Campbell Agency, which focuses on workers’ compensation insurance solutions. Leadership updates, such as appointments within the Retail segment and changes to the board of directors, are another recurring theme in the company’s news flow.
Capital allocation decisions feature prominently as well. Brown & Brown has announced increases in its regular quarterly cash dividend and authorizations for additional share repurchases. Together with earnings releases, these items provide insight into how the company manages its balance sheet and returns capital to shareholders.
Investors, analysts and other interested readers can use this news feed to monitor Brown & Brown’s earnings releases, acquisitions, segment reorganizations, leadership appointments and capital markets activity over time.
PillarRx, a pharmacy consulting firm, announced it has achieved HITRUST Risk-based, 2-year Certification, affirming its commitment to regulatory compliance and data security. This elite certification highlights PillarRx's adherence to stringent industry standards across its corporate headquarters and data centers in Milwaukee, WI, and Lake St. Louis, MO. The certification demonstrates robust management of data protection challenges and positions PillarRx among organizations recognized for effective information security. Rob Cleek, Vice President of Information Technologies, emphasized that this achievement showcases their dedication to safeguarding sensitive information for clients.
Brown & Brown, Inc. (NYSE: BRO) has appointed Jaymin B. Patel, executive chairman of Perennial Climate Inc., to its board of directors. Lead independent director H. Palmer Proctor, Jr. praised Patel's extensive leadership experience and industry knowledge. CEO J. Powell Brown emphasized that Patel's diverse expertise will enhance the company's mission to deliver long-term value to shareholders. Patel's background includes significant roles at Brightstar Corporation and GTECH (now IGT), along with expertise in regulated industries and financial operations. He holds a degree from Birmingham City University and is a chartered accountant.
Brown & Brown, Inc. (NYSE: BRO) reported a strong financial performance for Q4 and full year 2022. Q4 revenues increased by 22.1% to $901.4 million, with commissions rising 21.3%. Net income for Q4 grew 42.8% to $145.2 million, and diluted earnings per share rose 41.7% to $0.51. For the full year, revenues reached $3.57 billion, a 17.1% increase, with net income of $671.8 million, up 14.4%. Notably, organic revenue growth for the quarter was 7.8%. However, the income before income taxes margin slightly decreased to 24.5%. CEO J. Powell Brown emphasized the firm's commitment to continued growth and customer service.
Brown & Brown, Inc. (NYSE: BRO) has declared a regular quarterly cash dividend of $0.1150 per share, payable on February 15, 2023, to shareholders of record on February 3, 2023. This decision reflects the company's commitment to returning value to its shareholders. Established in 1939, Brown & Brown is a leading insurance brokerage firm operating over 450 locations globally and employing more than 14,500 teammates. The firm specializes in risk management solutions tailored for both individuals and businesses.
Brown & Brown, Inc. (NYSE: BRO) announced its 2022 fourth-quarter earnings release scheduled for January 23, 2023, post-market close. An investor update conference call will be held on January 24, 2023, at 8:00 a.m. EST, featuring CEO J. Powell Brown and CFO R. Andrew Watts. The call will be accessible live via the company's website and archived for 14 days. Brown & Brown has over 14,500 employees globally and has provided risk management solutions since 1939.
Brown & Brown (NYSE: BRO) has acquired Finance Builders Inc., enhancing its Dealer Services operations. Finance Builders, primarily active in Connecticut and Massachusetts, specializes in F&I products and support for automotive dealers. This acquisition aims to bolster BBDS's service offerings and customer reach. The integration promises to provide broader resources and diverse product options for Finance Builders' clientele. Both organizations express optimism about future growth and collaboration in the evolving automotive finance landscape.
Brown & Brown reported a significant 20.4% revenue increase for Q3 2022, totaling $927.6 million, driven by a 20.2% rise in commissions and fees. Net income rose 10.0% to $161.1 million, while diluted EPS increased to $0.57. However, income before taxes margin declined to 23.5%. For the nine months ending September 30, 2022, total revenues reached $2.67 billion, an increase of 15.5%. Notably, the firm faced a $15 million impact from profit-sharing commissions and $11.5 million in losses related to Hurricane Ian. The company continues to expand, adding over 2,500 new teammates internationally.
Brown & Brown, Inc. (NYSE: BRO) has declared a quarterly cash dividend of $0.1150 per share, payable on November 16, 2022, to shareholders of record as of November 2, 2022. This marks a 12.2% increase from the prior dividend of $0.1025 and represents the twenty-ninth consecutive annual dividend increase. Established in 1939, Brown & Brown is a prominent insurance brokerage firm with over 14,500 employees across more than 450 locations globally, providing innovative risk management solutions.
Brown & Brown, Inc. (NYSE: BRO) will announce its 2022 third-quarter earnings on October 24, 2022, post-market. An investor update conference call, hosted by CEO J. Powell Brown and CFO R. Andrew Watts, is set for October 25, 2022, at 8:00 a.m. EDT. The call will be accessible live on their website, with a replay available after the call until November 25, 2022. Brown & Brown has been an insurance brokerage leader since 1939, offering risk management solutions globally.
Onkar Kumar has been promoted to Chief Digital and Information Officer at Orchid Underwriters Agency, LLC, leveraging 24 years of expertise in IT solutions. Kumar, who joined Orchid in February 2021, aims to enhance technology, digital experience, and cybersecurity operations. His past experience includes significant roles at Disney, Ameriprise Financial, and Cognizant, where he successfully launched innovative technology products. Orchid, acquired by Brown & Brown in 2022, specializes in property and casualty insurance across the U.S., Bahamas, and Caribbean.