Brown & Brown

Brown & Brown, Inc. (Brown & Brown Insurance or B&B) is an American provider of insurance, reinsurance products, and federal programs services to general business, corporate, governmental, quasi-governmental, institutional, professional, trade association, and individual clients. Its headquarters are in Daytona Beach, Florida.

Brown & Brown, Inc.
Brown & Brown Insurance
TypePublic company
ISINUS1152361010
IndustryProperty & casualty insurance
Founded1939 (1939)[1]
HeadquartersDaytona Beach, Florida, U.S.[2]
Key people
  • J. Powell Brown
  • (Director, President, & CEO)
  • R. Andrew Watts
  • (Vice President & CFO)
Revenue US$2.613 billion (2020)[3]
US$462.46 million (2020)[3]
US$480.4 million (2020)[3]
Total assets US$8.96 billion (2020)[3]
Total equity US$3.75 billion (2020)[3]
OwnerJ. Hyatt Brown, 14.46%[4]
Number of employees
11,136 (2020)[3]
Websitebbinsurance.com

In 2021 the company ranked as the fifth largest independent insurance intermediary organization in the U.S. and sixth largest in the world by Business Insurance magazine.[5]

History

Brown & Brown was co-founded by J. Adrian Brown in 1939. His son, J. Hyatt Brown, became CEO in 1961, a position he held until 2009. Under Hyatt, Brown & Brown expanded from a small local, family-owned insurance agency with a single office in Daytona Beach to the nation's sixth-largest insurance brokerage with offices nationwide.[6]

In March 2022, it was announced Brown & Brown had completed the acquisition two property-focused insurance companies - Florida-based Orchid Underwriters Agency and Texas-based CrossCover Insurance Services.[7]

References
  1. "Archived copy". Archived from the original on 2013-08-19. Retrieved 2013-03-31.{{cite web}}: CS1 maint: archived copy as title (link)
  2. "Brown & Brown Insurance – Investor Relations". investor.bbinsurance.com/.
  3. "US SEC Filing: Form 10-K Brown & Brown, Inc". U.S. Securities and Exchange Commission. February 23, 2021. Retrieved May 24, 2021.
  4. 2021 Proxy Statement
  5. "BI Top 100".
  6. "Daytona area's Hyatt Brown, Jim France make Forbes billionaires list". The Daytona Beach News-Journal. The Daytona Beach News-Journal. Retrieved 22 April 2021.
  7. "Brown & Brown completes acquisition of Orchid & CrossCover - Reinsurance News". ReinsuranceNe.ws. 2022-04-01. Retrieved 2022-04-03.
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