Company
Brown & Brown, Inc.
Headquarters: Daytona Beach, FL, United States
Founded: 1939
Employees: 12,023
CEO: Mr. J. Powell Brown C.P.C.U., CPCU
Market Cap
$25.82 Billion
USD as of July 1, 2024
Brown & Brown, Inc. Categories
United States Financials Insurance BrokersUnited States Financials United States Insurance Brokers
Company Description
Brown & Brown, Inc., better known as Brown & Brown Insurance or B&B, is an insurance brokerage company. It provides risk management, insurance, and reinsurance products and services to businesses, public agencies, professional and trade organizations, families, and individuals. Founded in 1939, and headquartered in Daytona Beach, Florida, Brown & Brown now provides insurance solutions through more than 300 locations throughout the US.
Top Competitors by Market Capitalization
Industry: Insurance Brokers
| Company | Market Cap (USD) |
|---|---|
| Marsh & McLennan Companies, Inc. | $104.90 B |
| Aon Plc | $64.33 B |
| Arthur J. Gallagher & Co. | $57.83 B |
| Willis Towers Watson plc | $26.62 B |
| Erie Indemnity Company | $19.15 B |
Sector:
| Company | Market Cap (USD) |
|---|---|
| Berkshire Hathaway | $887.16 B |
| JPMorgan | $599.29 B |
| Visa | $550.38 B |
| Mastercard | $416.63 B |
| Bank of America | $316.02 B |
Detailed Description
Brown & Brown, Inc. markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers property and casualty, employee benefits insurance products, personal insurance products, specialties insurance products, loss control survey and analysis, consultancy, and claims processing services. It serves commercial, public and quasi-public entities, professional, and individual customers. The National Programs segment offers professional liability and related package insurance products for dentistry, legal, eyecare, insurance, financial, physicians, real estate title professionals, as well as supplementary insurance products related to weddings, events, medical facilities, and cyber liabilities. This segment also offers outsourced product development, marketing, underwriting, actuarial, compliance, and claims and other administrative services to insurance carrier partners; and commercial and public entity-related programs, and flood insurance products. It serves through independent agents. The Wholesale Brokerage segment markets and sells excess and surplus commercial and personal lines insurance through independent agents and brokers. The Services segment offers third-party claims administration and medical utilization management services in the workers' compensation and all-lines liability arenas, Medicare Set-aside, Social Security disability, Medicare benefits advocacy, and claims adjusting services. The company was founded in 1939 and is headquartered in Daytona Beach, Florida.
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Stocks & Indices
Brown & Brown, Inc. has the following listings and related stock indices.
Stock: NYSE: BRO wb_incandescent
Stock: FSX: BTW wb_incandescent
Key People
J. Powell Brown (Director, President, & CEO) R. Andrew Watts (Vice President & CFO)
Financials
Revenue: US$2.613 billion (2020)
Operating income: US$462.46 million (2020)
Net income: US$480.4 million (2020)
Total assets: US$8.96 billion (2020)
Total equity: US$3.75 billion (2020)