Reinsurance News

Brown & Brown reports $129mn increase in revenues during Q2

27th July 2021 - Author: Charlie Wood

Brown & Brown has announced GAAP revenues for the second quarter of 2021 totalling $727.3 million, up $128.5 million from the prior year period.

Brown-Brown-LogoNet income was $139.3 million, increasing $42.5 million, or 43.9%.

Compared to the second quarter of the prior year with commissions and fees increased by 21.3% and Organic Revenue increasing by 14.7%.

GAAP Revenues for the first half of 2021 were $1,542.6 million, increasing $245.3 million, or 18.9%, as compared to the same period in 2020, with commissions and fees increasing by 18.9%, and Organic Revenue increasing by 12.1%.

Net income was $339.0 million, increasing $89.8 million, or 36.0%, and diluted net income per share for the period increased to $1.20, or 36.4%, each as compared to the same period of 2020.

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Diluted Net Income Per Share – Adjusted increased to $1.19 or 40.0% compared to the same period of 2020.

J. Powell Brown, President and Chief Executive Officer of the Company, noted, “Our team delivered outstanding results for the second quarter, driven by strong Organic Revenue growth in each of our four segments.”

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