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.
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.
Brown & Brown, Inc. (NYSE:BRO) has acquired the assets of Bright & Associates, a firm offering F&I products in the automotive sector since 1977. The acquisition, announced by J. Scott Penny and Jim Bright, aims to expand Brown & Brown Dealer Services' (BBDS) footprint in Missouri and Illinois. Bright & Associates will continue operations in St. Louis and benefit from enhanced resources and support. BBDS expects to deliver improved products and services through this integration, aligning with the core values of both companies. This move reflects strategic growth in the F&I market.
Brown & Brown, Inc. (NYSE:BRO) has completed the acquisition of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc., and related affiliates, known as VAS. This strategic acquisition is expected to enhance Brown & Brown's risk management offerings and expand its market presence. The firm, with over 80 years of experience, aims to leverage this addition to improve customer service and operational capabilities. While the acquisition presents growth opportunities, potential challenges in integration and uncertainties in future performance are acknowledged.
Brown & Brown, Inc. (NYSE: BRO) will announce its third-quarter 2020 earnings on October 26, 2020, after market close. The following day, October 27, a conference call will be hosted at 8:00 a.m. EDT by CEO J. Powell Brown and CFO R. Andrew Watts to discuss the results. The call will be broadcast live and can also be accessed via the company's website. Additionally, a replay will be available shortly after the event. This announcement coincides with the company's established reputation in providing insurance and risk management solutions for over 80 years.
Pacific Resources Benefits Advisors has appointed Chris Judd as CEO and Ken Vaughan as President. Judd takes over from Paul Barden, who achieved over a 400% revenue increase during his ten-year tenure. Judd and Vaughan bring nearly 30 years of consulting and executive experience in employee benefits. Judd expressed optimism about continued growth and commitment to high client service standards. Barden will remain as an advisor while transitioning to a leadership role with Brown & Brown Insurance.
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