Brown & Brown Inc Stock Price, News & Analysis

Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of South & Western General Agency and its affiliate, S&W Premium Finance Company. Established in 1974, South & Western operates as a managing general agency in several southern states, specializing in various insurance products. This acquisition positions Brown & Brown to enhance its service offerings in the Southwest and Mid-South regions. The South & Western team will continue their operations under the leadership of JJ Horan, maintaining their commitment to high-quality customer service.

Brown & Brown, Inc. (NYSE:BRO) reported a strong third quarter for 2020, with revenues of $674 million, up 8.9% from the previous year. Net income rose to $134 million, marking a 15.9% increase, while diluted net income per share increased by 14.6% to $0.47. For the nine-month period ending September 30, 2020, revenues reached $1.97 billion, a growth of 8.7%. The company's organic revenue growth stood at 4.3% for the quarter and 3.5% for the year-to-date. EBITDAC also reflected positive growth, increasing by 13.2% for the quarter. These results showcase the company's resilience during challenging market conditions.

Brown & Brown, Inc. (NYSE:BRO) has declared a quarterly cash dividend of $0.0925 per share, marking an 8.8% increase from the previous $0.085 per share. This dividend is payable on November 18, 2020, to shareholders of record as of November 4, 2020. This announcement represents the twenty-seventh consecutive annual dividend increase for the company, highlighting its commitment to returning value to shareholders.

Picwell has partnered with Brown & Brown (NYSE: BRO), enhancing benefits decision support for over 30 million employees. This partnership allows Brown & Brown customers access to Picwell's advanced AI-driven benefits solution, simplifying decision-making in healthcare plans. Picwell aims to educate employees on benefits options effectively, potentially saving them over $1,000 annually and benefiting employers by saving up to $94 per user. The collaboration aligns with Picwell's mission to empower employees, making healthcare benefits easier to understand.

Professional Disability Associates, a subsidiary of The Advocator Group and Brown & Brown, Inc. (NYSE: BRO), has launched a new Virtual Chief Medical Officer service aimed at enhancing the disability insurance sector. This service will connect disability claim organizations with licensed physicians to assist in evaluating complex claims and providing clinical training. With the anticipated rise in disability claims due to COVID-19, the initiative seeks to ensure efficient and safe assessments. PDA aims to uphold high-quality service standards while addressing evolving mental and physical health needs.

Brown & Brown, Inc. (NYSE:BRO) has acquired the assets of J.E. Brown & Associates Insurance Services, enhancing its presence in the California insurance market. Founded in 1989, J.E. Brown specializes in property and casualty insurance for small businesses and individuals. The acquisition allows for the continuation of J.E. Brown's operations under the leadership of its existing management team, who will leverage strong industry relationships to expand service offerings. This strategic move aims to strengthen Brown & Brown's competitive position in California's insurance sector.

PillarRx Consulting has appointed Audrey Paukner as the new Director of Data Delivery. With 20 years of experience in data analytics, particularly in the PBM and healthcare sectors, she aims to implement advanced reporting solutions that align customer insights with business needs. Rob Cleek, VP of IT at PillarRx, noted that Audrey's expertise will enhance pharmacy benefit planning, aiming to mitigate rising healthcare costs. Her role involves leading the data delivery team and providing actionable reports to improve efficiency without compromising member satisfaction.