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. reports developments from a diversified insurance agency, wholesale brokerage and insurance programs organization serving commercial, public-sector, professional and individual customers. Recurring updates cover Retail and Specialty Distribution activity, organic revenue trends, adjusted earnings measures, Organic Revenue with Contingents, dividends and share repurchase actions.
Company announcements also include acquisition activity within insurance distribution and dealer services, including asset purchases that expand product channels for vehicle, recreational vehicle, boat and motorcycle dealerships. Governance and operating updates address legal, compliance, enterprise risk management, technology, data and artificial intelligence initiatives across the organization.
Everbridge, Inc. (NASDAQ: EVBG) and Brown & Brown have launched a first-of-its-kind product aimed at enhancing risk management for property and casualty insurance customers. This collaboration leverages Everbridge's Critical Event Management technology to provide advanced alerting and recommendations to mitigate risks before they impact insured properties. An early version is already utilized by a FORTUNE 500 manufacturer for severe weather notifications at over 200 sites. This innovation represents a significant step in proactive risk management strategies within the insurance industry.
Brown & Brown, Inc. (NYSE:BRO) announced on February 7, 2022, its acquisition of the general insurance operations of BdB Limited, a specialist wholesale broker in the UK and Europe. The deal is set to close in Q2 2022, contingent on certain conditions. BdB, founded in 1993, provides access to specialty insurance products and will continue to operate under its leadership team. The acquisition aims to enhance Brown & Brown's service capabilities and expand its market presence in Europe, aligning with its commitment to innovative risk management solutions.
Brown & Brown, Inc. (NYSE: BRO) has been added to the S&P 500 Dividend Aristocrats Index as of February 1, 2022. This index recognizes companies that have raised dividends for 25 consecutive years, reflecting Brown & Brown's 28-year track record of dividend increases. CEO J. Powell Brown emphasized the company's commitment to delivering results for its stakeholders and praised the dedication of its team. Brown & Brown has been a member of the S&P 500 since September 2021 and continues to be a key player in the insurance brokerage sector.
Brown & Brown, Inc. (NYSE:BRO) reported its financial results for Q4 and FY 2021. Q4 revenues reached $738.5 million, a 15% increase year-over-year, with a net income of $101.7 million, reflecting a 4.5% increase. For the full year, revenues totaled $3,051.4 million, up 16.8%, and net income grew by 22.2% to $587.1 million. Diluted earnings per share increased to $2.07 for the year, up 22.5%. The company noted strong organic revenue growth of 9% for Q4 and 10.4% for the year, highlighting its performance in attracting new business and retaining clients.
Brown & Brown, Inc. (NYSE: BRO) has declared a quarterly cash dividend of $0.1025 per share, scheduled for payment on February 16, 2022. Shareholders of record by February 4, 2022 will receive this dividend, reflecting the company's continued commitment to delivering shareholder value. Established in 1939, Brown & Brown, Inc. is a prominent insurance brokerage firm with over 11,000 employees across more than 300 locations in the U.S. and select global markets.
Brown & Brown, Inc. (NYSE: BRO) has appointed Mary Raveling, Tom Kussurelis, and Anurag Batta to its senior leadership team, enhancing operational capabilities in its retail, national programs, and wholesale brokerage segments. Powell Brown, CEO, emphasized their valuable industry experience and unique perspectives in driving the company's commitment to customer-focused, innovative insurance solutions. Raveling brings extensive operational expertise, Kussurelis leads shared services and innovation, while Batta has a strong background in strategic leadership. These appointments aim to strengthen leadership and improve service offerings.
Brown & Brown (NYSE: BRO) has announced the acquisition of substantially all assets of HARCO Insurance Services and Lone Star Affiliates. HARCO, established in 1969, is a full-service independent insurance agency based in Texas. The acquisition allows HARCO to operate as a branch of Brown & Brown's existing Houston operations, enhancing the combined entity's service capabilities. Leadership will remain with Ryan Beavers of Brown & Brown Lone Star Insurance Services. The acquisition is expected to strengthen Brown & Brown's presence in Texas, benefiting customers and insurance partners.
Brown & Brown, Inc. (NYSE: BRO) will release its 2021 fourth-quarter earnings on January 24, 2022, after market close. An investor update conference call will be held on January 25, 2022, at 8:00 a.m. EST, hosted by CEO J. Powell Brown and CFO R. Andrew Watts. This call is accessible via the company’s website. A replay will be available following the live broadcast and accessible until February 24, 2022. Brown & Brown is a leading insurance brokerage firm, dedicated to delivering effective risk management solutions since 1939.
olive.com, a leader in payment services and vehicle protection plans, has appointed Keith Moore as Executive Advisor to its Board of Directors. Moore, an experienced Insurtech executive, will guide the company's strategic initiatives and marketing efforts to support its expansion. Previously, he led CoverHound and contributed to LendingTree's diversification. His extensive industry background includes founding CyberPolicy and recognition as a Top 50 Insurtech Influencer. This appointment aims to enhance olive.com's customer service and technology-driven solutions.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of substantially all assets of Rainmaker Advisory, LLC, enhancing its Dealer Services division. This move aims to strengthen their capabilities in financing and insurance product planning for auto and RV dealers. Ryan Hanlon, owner of Rainmaker, and his team will continue operations from Ventura, California, under Mike Neal's leadership. Both parties emphasize the alignment of values and expertise, aiming to improve service and establish a West Coast presence.