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.
Brown & Brown, Inc. (NYSE: BRO) announces its third-quarter earnings release scheduled for October 25, 2021, post-market close. A conference call will be held on October 26, 2021, at 8:00 a.m. EDT with CEO J. Powell Brown and CFO R. Andrew Watts, discussing financial results. The call will be streamed live on their website. An audio replay will be available post-call and archived for 14 days. Founded in 1939, Brown & Brown is a leading insurance brokerage firm, employing over 11,000 across more than 300 locations.
PillarRx has released its 2021 Data Validation Customer Survey results, achieving a 5-star rating due to exceptional service in quality, audit accuracy, and actionable reporting. With a 99% customer retention rate since 2011, 100% of respondents expressed strong satisfaction, indicating likely continued use of PillarRx’s services in 2022. Innovations such as updated automation processes and improved communication with PBMs contributed to success. Additionally, the company secured 11 new contracts for 2022, highlighting its robust reputation and client relationships.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of Gremesco of New Jersey, a wholesale insurance broker founded in 2000. The acquisition, facilitated by Bridge Specialty Group, will enhance Morstan General Agency’s operations. Gremesco, known for providing property and casualty insurance in New Jersey and New York, will integrate into Morstan's Woodbridge location, led by Tommy Rhodes. This move aims to expand broker networks and improve market access, reflecting Brown & Brown's commitment to innovative insurance solutions.
Brown & Brown, Inc. (NYSE:BRO) has successfully acquired substantially all assets of AGIS Network, Inc., a prominent employee benefits enrollment firm specializing in long-term care options. This acquisition aims to enhance Brown & Brown's value proposition for its employee benefits customers. AGIS's innovative technology solutions will streamline enrollment processes, supporting large employers and governmental agencies nationwide. AGIS will continue operations under its founder, Kevin Sypniewski, from California, further strengthening Brown & Brown’s capabilities in the evolving long-term care market.
Brown & Brown, Inc. (NYSE:BRO) announced its inclusion in the S&P 500 index, effective September 20, 2021, as per S&P Dow Jones Indices. This prestigious index comprises 500 leading U.S. companies, marking a significant milestone for Brown & Brown, which was previously part of the S&P MidCap 400. CEO J. Powell Brown emphasized the company's 82-year growth history, highlighting contributions from its team and partners that enabled this achievement.
Brown & Brown, Inc. (NYSE:BRO) has successfully completed the acquisition of the assets and operations of Berkshire Insurance Group, Inc. through its subsidiary, Brown & Brown of Massachusetts, LLC. This acquisition marks a strategic expansion for Brown & Brown, enhancing its service offerings and market presence.
The company has over 11,000 employees across 300 locations, focusing on delivering innovative risk management solutions. Future financial results related to this acquisition remain uncertain, with potential risks associated with integration and market conditions.
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.