Reinsurance News
Brown & Brown
Brown & Brown releases Q4 and FY results
25th January 2022
Brown & Brown has released its unaudited financial results for Q4 2021, along with those for the entirety of the year. The company reported that its unaudited Q4 revenues were $738.5m, up 15% compared to Q4 2020. Net income, it reported, increased by 4.5% in this time. Over the year, revenues increased ... Read the full article
Brown & Brown announces new additions to senior leadership team
19th January 2022
Mary Raveling, Tom Kussurelis, and Anurag Batta are to join Brown & Brown’s senior leadership team. Raveling, currently the president for property and casualty in the retail segment; Kussurelis, COO for the National Programs segment; and Batta, COO of Bridge Specialty Group will all arrive on the senior leadership team with ... Read the full article
Brown & Brown’s Q3 revenue improves to $770mn
26th October 2021
Brown & Brown's revenues for the third quarter of 2021 were $770.3 million, a $96.3 million increase from the prior year quarter. Net income increased $12.4 million to $146.4 million while commissions and fees increased 14.6%; organic Revenue was up 8.5% from the prior year quarter. Income before income taxes for the third ... Read the full article
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
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