Reinsurance News

Organic revenue growth boosts Brown & Brown’s Q1 income

27th April 2021 - Author: Matt Sheehan

Insurance brokerage Brown & Brown has posted a 31.0% increase in net income for the first quarter of 2021, on the back of strong organic revenue growth, rate increases, and good business retention.

Brown-Brown-LogoNet income for the quarter was $199.7 million, representing an increase of $47.3 million over the same period in the previous year.

Revenues for Q1 were $815.3 million, increasing $116.8 million, or 16.7%, compared to the first quarter of 2019.

Results were helped by a 16.9% increase in commissions and fees, which stood at $814.0 million, as well as a 9.8% organic revenue growth, with organic revenue totaling $734.1 million for the quarter.

“We had a great quarter,” said J. Powell Brown, President and Chief Executive Officer (CEO) of Brown & Brown.


“The results were driven by more new business, good retention, and rate increases across all four divisions,” he explained. “Our team did an outstanding job of delivering for our customers in a work-from-anywhere environment.”

Brown & Brown’s total revenues last year were $2.6 billion, which represented a $221.2 million jump from 2019, with commissions and fees increasing by 9.3%.

Similarly, organic revenue increased by 3.8% for the full year and net income was $480.5 million, increasing $82.0 million.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Catastrophe losses to dent FedNat Q1 net income by $14.5m

Florida based primary insurer FedNat has reported that catastrophe weather losses experienced in the first-quarter of 2021 will lower its...