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Brown & Brown

Brown & Brown agrees to acquire Berkshire Insurance Group

8th September 2021

Berkshire Hills Bancorp, and Brown & Brown Massachusetts have entered into a definitive agreement for the sale of the assets and operations of Berkshire Insurance Group, (BIG), a subsidiary of Berkshire Hills. The transaction is subject to customary conditions and is expected to be completed in the third quarter. BIG provides insurance ... Read the full article

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

27th July 2021

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. Net 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 ... Read the full article

Organic revenue growth boosts Brown & Brown’s Q1 income

27th April 2021

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. Net income for the quarter was $199.7 million, representing an increase of $47.3 million over the same period ... Read the full article

Brown & Brown appoints Gray Nester as Chief Information Officer

22nd February 2021

Insurance brokerage Brown & Brown has appointed Gray Nester as Chief Information Officer, based in the firm's corporate headquarters located in Florida, effective immediately. With over 20 years of experience in Insurance Technology leadership, Nester has previously served as the CIO for Brown & Brown’s Retail Division. Prior to that, he was ... Read the full article

Brown & Brown names Stephen Boyd as EVP

29th January 2021

Insurance brokerage Brown & Brown has promoted Stephen Boyd to the position of Executive Vice President and President of the company’s Wholesale Brokerage Segment. Boyd most recently served as Brown & Brown’s Senior Vice President of Technology, Innovation, and Digital Strategy. He joined Arrowhead General Insurance Agency, the company’s subsidiary, in 1995 ... Read the full article

Brown & Brown Q4 revenue rises $63mn

26th January 2021

Insurance broker Brown & Brown has reported $642.1 million in revenues for the fourth quarter of 2020, up $63.1 million from the prior year quarter. Organic revenue for the quarter increased by 4.7% and net income was $97.3 million, up by $20.8 million. Revenues for the full year were $2.6 billion, a ... Read the full article

Brown & Brown acquires InsurTech CoverHound

10th November 2020

A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of InsurTech firm CoverHound, a digital insurance marketplace for both individuals and small businesses. The deal has been announced by J. Scott Penny, Brown & Brown's Chief Acquisitions Officer and Keith Moore, Chief Executive Officer (CEO) of ... Read the full article

Brown & Brown’s organic revenue up 4.3% in Q3

27th October 2020

Insurance brokerage Brown & Brown, Inc. has reported total revenues of $674 million for the third-quarter of 2020, as commissions and fees increased by 8.7% to $671.4 million. At the same time, the company has announced that organic revenue spiked by 4.3% in Q3 2020 to $621.3 million, compared with $595.9 ... Read the full article

Brown & Brown announces two acquisitions

14th October 2020

Re/insurers, Brown & Brown Insurance has announced the acquisition of all of the assets of Bright & Associates, as well as finalising the acquisition of Vehicle Administrative Services, (VAS). Bright & Associates is an independent sales and service organisation providing F&I products and sales support to the automotive, marine, power ... Read the full article

Brown & Brown acquires VAS Group

3rd September 2020

Insurance brokerage Brown & Brown, Inc. has announced that it has entered into an agreement to acquire VAS Inc. and its affiliated companies. VAS is made up of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc. and other related affiliates, and is owned by Bill Breindel. The transaction is expected to be ... Read the full article

Brown & Brown’s Q2 net income up 4.5% to $96.8mn

28th July 2020

Insurance brokerage Brown & Brown, Inc. has reported a 4.5% rise in net income in the second-quarter of 2020 to $96.8 million, while organic revenue increased by 0.5% in the period. Overall, the broker has reported revenues of $598.8 million in the second-quarter of 2020, which is a jump of $23.6 ... Read the full article

Brown & Brown Q1 organic revenue up 5.6%

28th April 2020

Insurance brokerage Brown & Brown, Inc. has reported a 5.6% growth in organic revenue during the first quarter of 2020, while also outlining measures to prepare for the impact of the COVID-19 pandemic. The company expects to borrow $250 million on its existing revolving line of credit to use for additional ... Read the full article

Brown & Brown’s organic revenues up in Q4 & full-year 2019

28th January 2020

Insurance brokerage Brown & Brown, Inc. has reported an increase in revenues for both the fourth-quarter and full-year 2019, of $579 million and $2.4 billion, respectively. Reported revenues are under U.S. generally accepted accounting principles (GAAP) and represent growth of 13.8% and 18.8% for Q4 and the full-year, respectively, when compared ... Read the full article

Brown & Brown acquires MGA Texas All Risk

20th January 2020

A subsidiary of insurance brokerage Brown & Brown, Inc., Hull & Company, LLC, has acquired the assets of Texas All Risk, a managing general agent (MGA) for independent retail insurance agencies. Texas All Risk places a broad range of P&C insurance for businesses and individuals in Texas, Louisiana, and also Oklahoma. Once ... Read the full article

Brown & Brown completes takeover of Canada MGA Special Risk

10th January 2020

Insurance brokerage firm Brown & Brown, Inc. has completed its acquisition of Canada domiciled managing general agent (MGA), Special Risk Insurance Managers, Ltd. First announced last month, Brown & Brown said that the acquisition is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Going ... Read the full article

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