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 a leading insurance intermediary providing risk management solutions through its retail, programs, wholesale brokerage, and services segments. This page serves as the definitive source for investors and industry professionals tracking BRO's corporate developments and market position.
Access timely updates on earnings reports, mergers & acquisitions, leadership changes, and strategic partnerships. Our curated news collection helps stakeholders analyze BRO's performance in commercial insurance, specialty programs, and risk advisory services.
Key coverage areas include quarterly financial results, expansion initiatives across U.S. and international markets, regulatory updates affecting the insurance sector, and innovations in client risk mitigation strategies. All content is verified from primary sources to ensure accuracy.
Bookmark this page for streamlined access to BRO's latest business developments. Check back regularly for essential updates impacting this diversified insurance brokerage's market trajectory.
Berkshire Hills Bancorp (NYSE: BHLB) and Brown & Brown (NYSE: BRO) have announced a definitive agreement for the sale of Berkshire Insurance Group (BIG) to Brown & Brown. This transaction, expected to close in Q3 2021, aligns with Berkshire's strategic transformation plan. Berkshire anticipates a net gain of $0.55 per share from the sale but expects to see a $0.02 decline in earnings per share in H2 2021. Existing BIG employees will be offered positions at Brown & Brown, ensuring job stability. The sale will enhance Brown & Brown's insurance offerings across Massachusetts.
Berkshire Hills Bancorp (NYSE: BHLB) has entered a definitive agreement to sell its subsidiary Berkshire Insurance Group (BIG) to Brown & Brown (NYSE: BRO) of Massachusetts. This transaction is part of Berkshire's strategic transformation plan aimed at simplifying operations and reallocating resources. The deal is expected to close in Q3 2021, with a projected net gain of $0.55 per share on a GAAP basis. However, Berkshire anticipates a decrease of $0.02 in earnings per share for the second half of 2021 due to this sale.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of Sudler Insurance Services, a provider of employee benefits, effective August 13, 2021. Founded in 1995, Sudler Insurance Services operates in Florida, Michigan, and South Carolina. Post-acquisition, founder Bob Sudler will join Brown & Brown's Ft. Lauderdale team. This strategic move aims to leverage Brown & Brown’s national presence to enhance service offerings and competitive rates for customers. The integration is expected to contribute positively to Brown & Brown's growth trajectory.
Brown & Brown, Inc. (NYSE:BRO) reported robust financial results for Q2 2021, with revenues of $727.3 million, a 21.5% increase year-over-year. Commissions and fees rose by 21.3%, and organic revenue grew 14.7%. Net income surged to $139.3 million, reflecting a 43.9% increase, while diluted earnings per share reached $0.49 (+44.1%). For the first half of 2021, revenues hit $1,542.6 million (+18.9%), with net income of $339.0 million (+36.0%). The company enhances its performance metrics with a focus on organic revenue growth and EBITDAC, which also saw significant increases.
Brown & Brown, Inc. (NYSE:BRO) announced a quarterly cash dividend of $0.0925 per share, payable on August 18, 2021, to shareholders of record on August 11, 2021. Established in 1939, Brown & Brown is a leading insurance brokerage firm with over 11,000 employees across more than 300 locations in the U.S. and select global markets. The firm is committed to delivering innovative risk management solutions aimed at protecting customers' valuable assets.
PillarRx Consulting has appointed Kelly Tanner as the new Director of Auditing, leveraging over 30 years in the pharmacy industry, including 16 years in pharmacy benefits management (PBM). Her expertise in analytics, IT development, and data validation will enhance audit accuracy and operational processes at PillarRx. Tanner’s role aims to improve internal auditing technologies and derive actionable insights for clients. The company's growth necessitates strong leadership in auditing to maintain high performance and client satisfaction.
Brown & Brown, Inc. (NYSE: BRO) will release its second-quarter 2021 earnings on July 26, 2021, after market close. An investor update conference call, led by CEO J. Powell Brown and CFO R. Andrew Watts, is scheduled for July 27, 2021, at 8:00 a.m. EDT, accessible via their website. The audio will be available for replay for a limited time. Founded in 1939, Brown & Brown is a leading insurance brokerage firm with over 11,000 employees across more than 300 locations, providing risk management solutions globally.
Bridge Specialty Wholesale, a subsidiary of Brown & Brown, Inc. (NYSE: BRO), has appointed Anurag Batta as Chief Operating Officer. With over 20 years of experience, Batta will focus on operational transformation and profitable growth. He previously served as COO of Zurich North America, where he led strategic initiatives. Stephen M. Boyd, President of Bridge Specialty Group, expressed excitement over Batta's leadership, which is expected to enhance their offerings for agency partners. The newly launched Bridge Specialty Group aims to unify its wholesale insurance businesses.
Brown & Brown, Inc. (NYSE: BRO) reported a strong Q1 2021 with revenues of $815.3 million, a 16.7% year-over-year increase. Commissions and fees rose by 16.9%, while Organic Revenue grew by 9.8%. Net income reached $199.7 million, marking a 31.0% increase, with diluted net income per share at $0.70, up 29.6%. A regular cash dividend of $0.0925 per share was declared, payable on May 19, 2021. The positive results were attributed to new business and good retention across divisions.
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