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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) announced a quarterly cash dividend of $0.0925 per share, payable on August 18, 2021, to shareholders of record on August 11, 2021. Established in 1939, Brown & Brown is a leading insurance brokerage firm with over 11,000 employees across more than 300 locations in the U.S. and select global markets. The firm is committed to delivering innovative risk management solutions aimed at protecting customers' valuable assets.
PillarRx Consulting has appointed Kelly Tanner as the new Director of Auditing, leveraging over 30 years in the pharmacy industry, including 16 years in pharmacy benefits management (PBM). Her expertise in analytics, IT development, and data validation will enhance audit accuracy and operational processes at PillarRx. Tanner’s role aims to improve internal auditing technologies and derive actionable insights for clients. The company's growth necessitates strong leadership in auditing to maintain high performance and client satisfaction.
Brown & Brown, Inc. (NYSE: BRO) will release its second-quarter 2021 earnings on July 26, 2021, after market close. An investor update conference call, led by CEO J. Powell Brown and CFO R. Andrew Watts, is scheduled for July 27, 2021, at 8:00 a.m. EDT, accessible via their website. The audio will be available for replay for a limited time. Founded in 1939, Brown & Brown is a leading insurance brokerage firm with over 11,000 employees across more than 300 locations, providing risk management solutions globally.
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Bridge Specialty Wholesale, a subsidiary of Brown & Brown, Inc. (NYSE: BRO), has appointed Anurag Batta as Chief Operating Officer. With over 20 years of experience, Batta will focus on operational transformation and profitable growth. He previously served as COO of Zurich North America, where he led strategic initiatives. Stephen M. Boyd, President of Bridge Specialty Group, expressed excitement over Batta's leadership, which is expected to enhance their offerings for agency partners. The newly launched Bridge Specialty Group aims to unify its wholesale insurance businesses.
Brown & Brown, Inc. (NYSE: BRO) reported a strong Q1 2021 with revenues of $815.3 million, a 16.7% year-over-year increase. Commissions and fees rose by 16.9%, while Organic Revenue grew by 9.8%. Net income reached $199.7 million, marking a 31.0% increase, with diluted net income per share at $0.70, up 29.6%. A regular cash dividend of $0.0925 per share was declared, payable on May 19, 2021. The positive results were attributed to new business and good retention across divisions.
Brown & Brown, Inc. (NYSE:BRO) has acquired substantially all assets of Leon Silver Associates, a wholesale broker based in New Jersey, enhancing its Bridge Specialty Group portfolio. This strategic acquisition aims to broaden product offerings and improve service for retail agents across several states. Leon Silver, established in 1971, has a strong reputation in commercial and personal lines insurance. The transition will integrate their operations into Morstan General Agency, ensuring continuity under the leadership of Tommy Rhodes. The deal is expected to foster growth and provide more opportunities for employees.
Brown & Brown, Inc. (NYSE:BRO) plans to release its first-quarter earnings on April 26, 2021, after market close. An investor update conference call will be held on April 27, 2021, at 8:00 a.m. EDT, hosted by President J. Powell Brown and CFO R. Andrew Watts. The conference call will be broadcast live and accessible through the company’s website. A replay will be available afterwards for those unable to attend the live session, with audio archived for 14 days. The company has over 80 years in the insurance brokerage industry, providing risk management solutions.
Brown & Brown, Inc. (NYSE: BRO) has announced the launch of Bridge Specialty Group, consolidating its extensive portfolio of more than 25 wholesale brands across 45 locations in the U.S. and London. The group aims to enhance collaboration among nearly 1,500 insurance professionals and leverage over $3 billion in premium volume. This initiative will provide a unified platform for retail partners, facilitating access to a broad spectrum of wholesale services and specialty market solutions. The company emphasizes maximizing carrier relationships and delivering localized solutions.
Brown & Brown, Inc. (NYSE:BRO) has appointed Gray Nester as Chief Information Officer, effective immediately. J. Powell Brown, CEO, expressed confidence in Nester's experience and innovative problem-solving skills, which align with the company’s technology initiatives. Nester, who has over 20 years in Insurance Technology, previously served as CIO for the Retail Division since December 2019. He will gradually transition from his current role. The company, a leading insurance brokerage firm, emphasizes customer service and risk management solutions.