Reinsurance News
Brown & Brown
Brown & Brown appoints Paul Krump and Bronislaw Masojada to its board
29th June 2023
Brown & Brown, a leading insurance brokerage firm, appointed two Paul Krump and Bronislaw Masojada, to its board of directors. H. Palmer Proctor, Jr., Brown & Brown's lead independent director and chair of the Nominating/Corporate Governance Committee, expressed his confidence in the newly appointed directors. Proctor acknowledged Krump and Masojada as highly ... Read the full article
Brown & Brown appoints Pattysue Rauh as chief audit officer
1st June 2023
Insurance brokerage Brown & Brown has appointed Pattysue Rauh as chief audit officer, effective July 2023. In this new role, Rauh will lead Brown & Brown's internal audit and compliance operations, overseeing internal controls. She will also serve on the senior leadership team. Rauh will transition from her current role as executive ... Read the full article
Brown & Brown to acquire Kentro Group by Q4 2023
23rd May 2023
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., announced that the company has entered into an agreement to acquire Kentro Capital Limited. The transaction is expected to close in Q4 2023, subject to certain closing conditions, including the receipt of required regulatory approvals. The Kentro Group and its ... Read the full article
Brown & Brown posts 23.4% rise in Q1’23 revenues
25th April 2023
US insurance brokerage firm Brown & Brown reported revenues of $1.12 billion for the first quarter of 2023, representing an increase of $211.3 million, or 23.4%, when compared to the same period in 2022. Organic revenue totalled $967.3 million for Q1, compared to $859.4 a year earlier. Commissions and fees increasing ... Read the full article
Brown & Brown recruits Robert Mathis as Chief Legal Officer
11th April 2023
Insurance brokerage Brown & Brown has announced the appointment of Robert Mathis as Chief Legal Officer and as a member of its senior leadership team. Before joining Brown & Brown, Mathis served as a Senior Vice President for KBR, where he had direct responsibility in the global energy, technology and international ... Read the full article
Brown & Brown names Michael Vaughan chief data officer
11th April 2023
Insurance brokerage firm Brown & Brown has appointed Michael Vaughan as chief data officer. Vaughan is adept in the data field, having most recently served as a senior vice president in the analytics data platform delivery and data strategy and architecture divisions of Truist. He holds a Bachelor of Science from Appalachian ... Read the full article
Brown & Brown adds Jaymin Patel to board of directors
16th February 2023
Insurance brokerage firm Brown & Brown, Inc. has announced the addition of Jaymin B. Patel, executive chairman of Perennial Climate Inc., to its board of directors. A chartered accountant, Patel has held his role at Perennial Climate - a leading platform measuring, reporting, and verifying soil-based carbon removal and climate-smart agriculture ... Read the full article
Brown & Brown sees big rise in revenues & income in Q4 results
24th January 2023
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. Notably, organic revenue totalled $764.7 million for Q4, up 7.8% from last year, but still remained lower ... Read the full article
GRP acquires Nucleus Underwriting
12th January 2023
Global Risk Partners (GRP) has acquired Nucleus Underwriting, its first managing general agent (MGA) acquisition since being taken over by Brown & Brown last year. In March 2022, the US broker firm Brown & Brown agreed to buy the insurance operations of GRP from PE firm Searchlight, the deal was ... Read the full article
Brown & Brown CEO warns of renewal “disruption” after Ian
26th October 2022
Powell Brown, President & CEO of US broker firm Brown & Brown, has warned of late-running renewals and challenging changes to reinsurance prices and terms following Hurricane Ian. Speaking during a Q3 earnings call, Brown said that reinsurance renewals would likely run “deep into December” with formidable pricing increases expected for ... Read the full article
Brown & Brown revenues up 20%, but organic growth slows
25th October 2022
US broker firm Brown & Brown has reported revenues of $927.6 million for the third quarter of 2022, representing an increase of $157.3 million, or 20.4%, when compared with the same period last year. Notably, organic revenue totalled $799.1 million for Q3, up 6.7% from last year, but slowing from the ... Read the full article
Brown & Brown reports revenue increases of 15% in Q2 results
26th July 2022
Brown & Brown is reporting revenues of $839.7 million in its Q2 22 results. The firm said that this included a $112.4 million (15.5%) increase compared to Q2 21. Income before income taxes was $198.8 million, increasing 6.7% from the second quarter of the prior year with Income Before Income Taxes ... Read the full article
Brown & Brown completes Global Risk Partners acquisition
7th July 2022
US broker firm Brown & Brown has completed the acquisition of Global Risk Partners Limited (GRP). In March 2022, the firm agreed to buy the insurance operations of GRP for an undisclosed amount in a deal expected to close in Q3. According to the announcement, GRP will operate within the Brown & ... Read the full article
Marsh McLennan extends lead as top global broker based on 2021 revenues
6th July 2022
Marsh McLennan remains the world's largest re/insurance broker, in terms of total revenues, which reached a huge $19.8 billion for the firm in 2021, according to our directory of the Top 20 Global Insurance & Reinsurance Brokers, based on research data from A.M. Best. Year-on-year, Marsh McLennan's ... Read the full article
Brown & Brown makes Kiet Tran its new CTO
19th May 2022
Broker firm Brown & Brown has appointed Kiet Tran as its new chief technology officer. The firm said that before Brown & Brown, Tran led IT infrastructure and operations for ADT. He will be based at the company’s enterprise campus in Daytona Beach, Florida. Gray Nester, chief information officer at the ... Read the full article