Brown & Brown has released its unaudited financial results for Q4 2021, along with those for the entirety of the year.
The company reported that its unaudited Q4 revenues were $738.5m, up 15% compared to Q4 2020. Net income, it reported, increased by 4.5% in this time.
Over the year, revenues increased 16.8% compared to 2020, increasing $438m to $3,051.4m. Net income was $587.1 million, increasing $106.6 million, or 22.2%
J. Powell Brown, president and CEO of Brown & Brown, said in a statement: “The fourth quarter was another strong performance for the team and is a capstone for a great 2021. I want to thank all of our outstanding teammates for winning more new business and retaining our great customers.”
The brokerage firm appears to have been going from strength to strength in recent months. In April, July, and October, it reported that it had seen revenue growth in all three quarters—31% in Q1, 21.4% in Q2, and 14.2% in Q3—compared to the same points in the preceding year.
And, in September, it was reported that Brown & Brown were agreeing to acquire Berkshire Insurance Group, a deal that was set to be completed in Q3 2021.
More recently, Brown & Brown have sought to bolster their leadership team with Mary Raveling, Tom Kussurelis, and Anurag Batta.
As reported on Reinsurance News, Raveling joined Brown & Brown during the former’s acquisition of the Hays Companies in 2018, while Kussurelis has been with the company since 2015. Batta was COO of Zurich North America before joining Bridge Specialty Group.
