US broker firm Brown & Brown has announced its financial results for the second quarter of 2023, reporting a revenue growth of 24.7%, $1,047.3m, compared to the same period last year.
Notably, organic revenue increased by 11.2%, to $894.3m. Income before income taxes was $254.4m, increasing 28.0% from the second quarter of the prior year.
For the six months ended June 30, Brown & Brown reported revenues of $2,163.3m , increasing $418.8m, or 24.0%, as compared to the same period in 2022. Organic Revenue increased by 11.9%.
Net income for this year’s second quarter was $190.4m, compared to $145.2 reported in 2Q 2022.
At the same time, Brown & Brown reported a net income of $425.9 for 2H 2023, compared to the $365.5m reported in the same period last year.
Income before income taxes for 2H 2023 was $548.6m, an increase of 18.3%.
J. Powell Brown, president and chief executive officer of the Company, commented: “We delivered another outstanding quarter of strong and profitable growth. This performance capped off a great first half of the year with significant momentum going into the second half.”
