Reinsurance News
Brown & Brown
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
Brown & Brown’s P. Barrett Brown promoted to President of Retail
8th January 2020
P. Barrett Brown has been appointed as an Executive Vice President and President of Brown & Brown, Inc.'s Retail segment, effective immediately. Most recently, Brown served as a Senior Vice President and a Regional President in the firm's Retail segment. He joined the company in 2000 and has held a number of ... Read the full article
Brown & Brown eyes Canadian broker market with Special Risk acquisition
11th December 2019
Insurance brokerage firm Brown & Brown, Inc. has announced an agreement to acquire the assets of Canada domiciled MGA, Special Risk. Brown & Brown says that the acquisition of Special Risk is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Following the completion of the ... Read the full article
Brown & Brown recruits Arrowhead exec from Zurich
1st November 2019
Insurance brokerage Brown & Brown has announced the appointment of David Putz as Executive Vice President of Arrowhead General Insurance Agency. Putz will also take up a leadership position within Brown & Brown’s National Programs Division. He joins the company from Zurich Insurance North America, where he most recently served as head ... Read the full article
Brown & Brown posts Q3 revenue growth
29th October 2019
Insurance brokerage Brown & Brown has reported $619.7 million in revenues for the third quarter, up 16.5% against the prior year quarter. The firm also revealed an increase of commissions and fees by 16.5%, while organic revenue was up by 3.4%. Meanwhile net income for the quarter stands at $115.6 million, a ... Read the full article
Brown & Brown’s revenues and net income up in 2019
23rd July 2019
Brown & Brown, Inc. has announced revenues for the second-quarter of 2019 of $575.2 million, an increase of almost 22% on the same period in 2018, driven by recent acquisitions, solid organic growth and margin expansion. The firm has announced that commissions and fees jumped by more than 21% year-on-year, while ... Read the full article
Brown & Brown acquires Innovative Risk and LSI Lender
16th July 2019
Brown & Brown, Inc. subsidiaries, Brown & Brown Metro, LLC and Brown & Brown of Kentucky, Inc., have acquired substantially all of the assets of Innovative Risk Solutions, Inc. (Innovative) and LSI Lender Services, LLC (LSI), respectively. The acquisition of Innovative was announced by Brown & Brown, Inc.'s Chief Acquisitions Officer, ... Read the full article
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.
