Insurance broker Brown & Brown has reported $642.1 million in revenues for the fourth quarter of 2020, up $63.1 million from the prior year quarter.
Organic revenue for the quarter increased by 4.7% and net income was $97.3 million, up by $20.8 million.
Revenues for the full year were $2.6 billion, a $221.2 million jump from 2019, with commissions and fees increasing by 9.3%.
Organic Revenue increased by 3.8% for the full year and net income was $480.5 million, increasing $82.0 million.
“We are very proud of our results in a year that challenged everyone globally,” said J. Powell Brown, President and Chief Executive Officer of the Company.
“We delivered good organic growth and margin expansion for the quarter and the full year. Our results are driven by nearly 11,000 dedicated teammates delivering solutions to our customers worldwide. I would like to thank all of our teammates for everything they did during the year.”