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.
PillarRx Consulting has achieved HITRUST CSF Certification, demonstrating compliance with key regulations and effective risk management. This certification applies to its software platforms hosted on Microsoft Azure and affirms its commitment to data security. With this achievement, PillarRx joins an elite group of organizations globally recognized for safeguarding sensitive data. According to Rob Cleek, Vice President of Information Technology, this certification enhances customer confidence in PillarRx's dedication to data protection and IT best practices.
Brown & Brown, Inc. (NYSE:BRO) has announced the promotion of Stephen M. Boyd to Executive Vice President and President of the Wholesale Brokerage Segment. Boyd, previously Senior Vice President of Technology, brings over 25 years of experience within the company, including significant roles at Arrowhead General Insurance Agency. Anthony T. Strianese, former President of the Wholesale Segment, becomes Chairman of the Wholesale Brokerage Segment while remaining an Executive Vice President. CEO Powell Brown highlighted Strianese's contributions and expressed confidence in Boyd's leadership potential to drive growth.
Brown & Brown, Inc. (NYSE:BRO) reported its unaudited financial results for Q4 and the full year 2020. Q4 revenues reached $642.1 million, a 10.9% increase from the previous year, with net income rising 27.2% to $97.3 million. For the full year, revenues hit $2,613.4 million (+9.2%), while net income increased 20.6% to $480.5 million. Diluted net income per share for Q4 and the entire year rose to $0.34 and $1.69, respectively. Organic revenue growth was 4.7% in Q4 and 3.8% for the year. The results reflect strong operational performance amidst global challenges.
Brown & Brown, Inc. (NYSE:BRO) has declared a quarterly cash dividend of $0.0925 per share, set for payment on February 17, 2021, to shareholders on record by February 5, 2021. This move underscores the company's commitment to returning value to its shareholders. With over 80 years in the insurance brokerage sector, Brown & Brown continues to provide reliable risk management solutions, emphasizing its mission to deliver superior customer service.
Brown & Brown, Inc. (NYSE:BRO) has successfully completed the acquisition of O’Leary Insurances, enhancing its position in the insurance brokerage sector. This strategic move is expected to bolster Brown & Brown's risk management solutions for both individuals and businesses. As a leading firm with over 80 years of experience, the company aims to leverage this acquisition to provide superior customer service and expand its market reach. However, forward-looking statements regarding the integration and potential financial impacts remain uncertain.
Brown & Brown, Inc. (NYSE:BRO) has acquired substantially all assets of Berry Insurance Group, a leading Ohio-based insurance brokerage founded in 2002. The acquisition aims to enhance Brown & Brown's retail presence in Ohio and surrounding areas. Mark Berry will continue to lead the team, ensuring a seamless transition that emphasizes customer service and community engagement. The deal reflects Brown & Brown's commitment to growth and market expansion. However, forward-looking statements highlight potential uncertainties regarding the integration and performance post-acquisition.
Brown & Brown, Inc. (NYSE:BRO) announced the acquisition of substantially all assets of ADM Marketing Group, Inc. and its affiliate, ADM Insurance Services, Ltd. This strategic move aims to enhance Brown & Brown Dealer Services (BBDS) operations, allowing them to leverage ADM's established F&I product offerings and loyal customer base in the Northeast and Mid-Atlantic regions. The transaction will enable broader resources and diverse product offerings for dealership customers while fostering growth opportunities for both teams.
Brown & Brown, Inc. (NYSE: BRO) will announce its 2020 fourth-quarter earnings on January 25, 2021, after market close. An investor conference call will take place on January 26, 2021, at 8:00 a.m. EST, hosted by CEO J. Powell Brown and CFO R. Andrew Watts. The call can be accessed live on the company’s website. For those unable to attend, a replay will be available via phone and the website for a limited time. Brown & Brown has over 80 years of experience in insurance brokerage, focusing on risk management solutions.
Brown & Brown, Inc. (NYSE: BRO) has received a certificate of occupancy for its new 11-story office building in Daytona Beach, completed on December 18, 2020. This facility will house four businesses and serve as the corporate headquarters, supporting up to 900 employees. The project is key to the company’s growth, which includes plans to hire 600 new jobs in Volusia County. The building features training facilities to support its teammate development program. CEO J. Powell Brown emphasized its importance for collaboration and future growth.
Brown & Brown has announced the acquisition of O'Leary Insurances, set to close in January 2021. This acquisition positions Brown & Brown as a leading player in the Irish insurance market, leveraging OLI's extensive customer service expertise and network of over 200 employees across eight locations in Ireland. The partnership aims to enhance customer solutions by combining strengths, with OLI continuing to operate under its current leadership. This strategic move reflects Brown & Brown's commitment to expanding its European presence and underscores the financial potential of the Irish insurance market.