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.
Brown & Brown, Inc. (NYSE: BRO) has announced the acquisition of substantially all assets from Dealer Admin. Services, Inc. (DAS). This acquisition aims to enhance the offerings of Brown & Brown Dealer Services (BBDS) by integrating DAS, a provider of aftermarket F&I product solutions for auto dealers. The existing DAS leadership will remain in place as it becomes a division of BBDS. This strategic move follows a successful integration of DAS into the Brown & Brown group during the ADG acquisition, with expectations for improved solutions for dealer customers.
Brown & Brown, Inc. (NYSE:BRO) has announced the acquisition of substantially all assets of Corporate Insurance Advisors, a Florida-based retail insurance agency founded in 2005. The acquisition will enhance Brown & Brown's service offerings and strengthen its presence in South Florida. Corporate Insurance Advisors will now operate under Brown & Brown’s Ft. Lauderdale office, led by Mike Gorham. This strategic move aims to leverage combined resources for innovative insurance solutions, positioning both firms for future growth amid evolving market risks.
Certificial, a leader in intelligent insurance verification, has appointed Katherine Moura as Chief Marketing Officer. Moura, who has over seven years in the insurtech industry, previously served as CMO at CoverHound and CyberPolicy, the latter acquired by Brown & Brown (NYSE:BRO). Her experience is expected to enhance Certificial's brand recognition and marketing strategies following their recent Series A funding. In 2021, Certificial welcomed over 8,000 new agencies and brokers, signaling significant growth potential for the company.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of Heacock Insurance, a family-owned agency operating since 1922 in central Florida. The acquisition aims to enhance Brown & Brown's regional service capabilities while maintaining the Heacock Insurance team's leadership under Stacey Heacock Weeks. This partnership reflects shared values centered on customer service and family, boosting the future potential for both firms as they leverage their combined expertise in risk management solutions.
Brown & Brown reported third-quarter 2021 revenues of $770.3 million, a 14.3% increase from the previous year. Commissions and fees rose by 14.6%, with Organic Revenue growth of 8.5%. Net income reached $146.4 million, up 9.3%, and diluted net income per share increased to $0.52. For the nine months ending September 30, 2021, revenues totaled $2,312.9 million, up 17.3%. Net income for this period was $485.4 million, reflecting a 26.7% increase. The company’s president expressed satisfaction with continued growth and profitability.
Brown & Brown, Inc. (NYSE: BRO) has announced a quarterly cash dividend of $0.1025 per share, reflecting a 10.8% increase from the previous $0.0925. This dividend will be paid on November 17, 2021, to shareholders recorded on November 3, 2021. This marks the twenty-eighth consecutive annual dividend increase for the company, emphasizing its commitment to returning value to shareholders. Brown & Brown, a leading insurance brokerage firm, has been providing risk management solutions since 1939.
Brown & Brown, Inc. (NYSE: BRO) has completed the acquisition of Remedy Analytics Inc., a pharmacy consulting service provider. Founded in 2011, Remedy Analytics leverages its PharmaLogic® platform to help large employers manage medication costs. Post-acquisition, Remedy's team will operate from Milwaukee under COO Jennifer Hill's leadership, while Scott Martin retains a consultant role. Leaders from both companies anticipate enhanced value for customers through improved resources and collaboration.
Brown & Brown, Inc. will unify all brands under its Retail segment to the name Brown & Brown starting Jan. 1, 2022. This strategy aims to enhance customer service by streamlining resources and leveraging a top-five brokerage's strength. P. Barrett Brown emphasized a commitment to quality service and improved access to diverse capabilities. A new logo and unified retail website will launch in January. The unification pertains solely to the Retail segment, excluding National Programs and other areas. Brown & Brown operates as a leading insurance brokerage since 1939, with over 11,000 team members nationwide.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of Winston Financial Services, Inc., a leader in benefit communication and administration. Founded in 1987, Winston Benefits has developed proprietary technology, including HRAlly™, enhancing employer services. The acquisition aims to strengthen Brown & Brown’s employee benefits practice, leveraging Winston's technology and expertise. Colin and Curran Bradley will continue to lead Winston Benefits, ensuring continuity while integrating with Brown & Brown's operations. This strategic move is poised to enhance customer experience and expand service offerings.
Brown & Brown, Inc. (NYSE: BRO) announces that Hugh M. Brown, a board member, has been named to Savoy Magazine's Most Influential Black Corporate Directors list for the second time. This recognition highlights his significant contributions over 17 years to the company's success. Hugh Brown is the founder of BAMSI, Inc. and has served on various boards, including the Federal Reserve Bank of Atlanta. CEO J. Powell Brown praised his leadership, stating it has positively impacted the organization.