Brown & Brown has disclosed its full-year 2025 results, revealing total revenues of $5.9 billion, an increase of $1.1 billion, or 22.8%, compared with 2024.
Income before income taxes rose to $321 million, up 16.7% year over year. Net income attributable to Brown & Brown increased to $264 million, representing a gain of $54 million, or 25.7%, from the prior year.
Adjusted EBITDAC reached $2.1 billion, up 25.6%, while the adjusted EBITDAC margin expanded to 35.9% from 35.2% in 2024.
In Q4 2025 alone, Brown & Brown generated total revenues of $1.6 billion, an increase of $423 million, or 35.7%, compared with Q4 2024.
Net income attributable to the firm for Q4 2025 was $264 million, up $54 million, or 25.7%, from the same period a year earlier.
Commenting on the results, J. Powell Brown, president and chief executive officer, said, “2025 was another great year for the Brown & Brown team, highlighted by the acquisition of Accession, along with strong revenue growth, double-digit adjusted diluted net income per share growth, and good adjusted margin expansion.”
First announced in June 2025, the transaction was one of the largest full private equity exits in insurance brokerage history.
Founded in 1997, Boston-based Accession is a national insurance services platform and the parent company of Risk Strategies, a specialty brokerage, and One80 Intermediaries, an insurance wholesaler and program manager.
