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 reported a significant 20.4% revenue increase for Q3 2022, totaling $927.6 million, driven by a 20.2% rise in commissions and fees. Net income rose 10.0% to $161.1 million, while diluted EPS increased to $0.57. However, income before taxes margin declined to 23.5%. For the nine months ending September 30, 2022, total revenues reached $2.67 billion, an increase of 15.5%. Notably, the firm faced a $15 million impact from profit-sharing commissions and $11.5 million in losses related to Hurricane Ian. The company continues to expand, adding over 2,500 new teammates internationally.
Brown & Brown, Inc. (NYSE: BRO) has declared a quarterly cash dividend of $0.1150 per share, payable on November 16, 2022, to shareholders of record as of November 2, 2022. This marks a 12.2% increase from the prior dividend of $0.1025 and represents the twenty-ninth consecutive annual dividend increase. Established in 1939, Brown & Brown is a prominent insurance brokerage firm with over 14,500 employees across more than 450 locations globally, providing innovative risk management solutions.
Brown & Brown, Inc. (NYSE: BRO) will announce its 2022 third-quarter earnings on October 24, 2022, post-market. An investor update conference call, hosted by CEO J. Powell Brown and CFO R. Andrew Watts, is set for October 25, 2022, at 8:00 a.m. EDT. The call will be accessible live on their website, with a replay available after the call until November 25, 2022. Brown & Brown has been an insurance brokerage leader since 1939, offering risk management solutions globally.
Onkar Kumar has been promoted to Chief Digital and Information Officer at Orchid Underwriters Agency, LLC, leveraging 24 years of expertise in IT solutions. Kumar, who joined Orchid in February 2021, aims to enhance technology, digital experience, and cybersecurity operations. His past experience includes significant roles at Disney, Ameriprise Financial, and Cognizant, where he successfully launched innovative technology products. Orchid, acquired by Brown & Brown in 2022, specializes in property and casualty insurance across the U.S., Bahamas, and Caribbean.
Brown & Brown, Inc. (NYSE: BRO) announced the acquisition of substantially all assets of Smithwick & Mariners Insurance, MidCoast Insurance, and Chapman & Chapman Insurance. Founded in 1987, Smithwick & Mariners specializes in providing insurance solutions for the marine industry and has expanded services throughout Maine and New England. Post-acquisition, the existing team will maintain operations under Brown & Brown's Retail segment, enhancing the company's product offerings and customer service capabilities.
Brown & Brown, Inc. (NYSE:BRO) has acquired substantially all assets of VistaNational Insurance Group, a firm known for employee benefits solutions since 1996. The deal, announced on September 12, 2022, marks a strategic expansion for Brown & Brown, with VistaNational continuing operations under its existing leadership in Illinois. CEO David N. Schwimmer retires following the acquisition. This transaction is expected to enhance customer service by leveraging Brown & Brown’s resources and diverse product offerings.
Kathy Cody has been appointed CEO of Orchid Underwriters Agency, with Ross Bowie as President and Chief Underwriting Officer. Steve Carlsen shifts to Executive VP in National Programs. National Programs, part of Brown & Brown, aims to enhance its coastal wind underwriting capabilities and high-net-worth homeowners sector. Cody, previously COO, has extensive insurance experience, while Bowie has a strong underwriting background. They replace Carlsen, who successfully navigated Orchid's sale to Brown & Brown. The leadership change is expected to strengthen Orchid's position within National Programs.
Brown & Brown, Inc. (NYSE:BRO) has completed the acquisition of BdB Limited's general insurance operating companies as of August 2, 2022. This strategic acquisition aims to enhance Brown & Brown's market position and operational capabilities in the insurance sector. The company, founded in 1939, has a robust presence with over 14,500 employees in more than 450 locations globally. The press release emphasizes potential future benefits but also cautions about inherent uncertainties and risks associated with the integration process.
Brown & Brown, Inc. (NYSE:BRO) reported a strong second quarter of 2022 with revenues of $839.7 million, up 15.5% year-over-year. Commissions and fees also increased by 15.5%, and Organic Revenue rose by 10.3%. Net income reached $145.2 million, a 4.2% increase, with diluted earnings per share at $0.51. Despite these gains, the Income Before Income Taxes Margin decreased from 25.6% to 23.7%. The company completed its acquisition of GRP on July 1st, 2022, enhancing its growth potential.
Brown & Brown, Inc. (NYSE: BRO) has announced a quarterly cash dividend of $0.1025 per share, payable on August 17, 2022. Shareholders of record by August 10, 2022 will receive this dividend. Brown & Brown is a prominent insurance brokerage firm established in 1939 with over 14,500 employees across more than 450 global locations, providing effective risk management solutions to clients.
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