Reinsurance News

Brown & Brown sees big rise in revenues & income in Q4 results

24th January 2023 - Author: Jack Willard

US broker firm Brown & Brown has reported revenues of $901.4 million for the fourth quarter of 2022, representing an increase of $162.9 million, or 22.1%, when compared to the same period last year.

Brown-Brown-LogoNotably, organic revenue totalled $764.7 million for Q4, up 7.8% from last year, but still remained lower from the 10.3% organic revenue growth rate posted by the firm for Q2 2022.

For the full year, Brown & Brown reported revenues of $3.57 billion, increasing $522 million, or 17.1%, as compared to 2021, with commissions and fees increasing by 16.9%, and Organic Revenue increasing by 8.1%.

Net income for the quarter was $145.2 million, a major shift from last years $101.7 million. At the same time, Brown & Brown reported a net income of $671.8 million for the full year, representing an increase of $84.7 million or 14.4%, from $587.1 million from 2021.

Additionally Brown & Brown’s income before taxes was $194.2 million for Q4 22, representing a major increase from last years $140.8 million.

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Meanwhile income before taxes for the full year was $876.1 million, compared to $762.8 million from 2021.

Powell Brown, president and chief executive officer of the Company, commented: “Our team delivered another year of strong profitable growth. I want to thank all of our dedicated teammates throughout the world who continue to deliver for our customers every day.”

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