Brown & Brown, Inc. - BRO STOCK NEWS

Brown & Brown, Inc. (NYSE: BRO) has announced the appointment of Stephen P. Hearn to its board of directors. Hearn, a veteran with 35 years of experience in the insurance industry, brings a wealth of expertise to the company. J. Powell Brown, CEO of Brown & Brown, praised Hearn's visionary leadership and proven track record in leveraging technology and talent for long-term growth in the international insurance space.

Hearn's impressive career includes leadership roles at The Ardonagh Group, where he served as CEO of various divisions from 2021 to 2024. He also held significant positions at Corant Global, Ed Broking Group , and Willis Group Holdings plc. Currently, Hearn serves as the chairman of Placing Platform (PPL) and as a non-executive director of Atrium Underwriters .

Brown & Brown, Inc. (NYSE:BRO) has announced an agreement to acquire Quintes Holding B.V., one of the largest independent insurance brokers in the Netherlands. The transaction is expected to close in Q4 2024, subject to regulatory approvals. Quintes, founded in 2012, serves approximately 200,000 customers across broking, MGA, and pension business divisions. With 700 professionals across 18 locations, Quintes will continue to be led by its founder and CEO, Gijsbert van de Nieuwegiessen, who will report to Mike Bruce, CEO of Brown & Brown (Europe)

This acquisition will expand Brown & Brown's international footprint and enhance its global capabilities. The move aligns with Brown & Brown's decentralized business model and is expected to drive continued growth. For Quintes customers, the acquisition promises access to additional capabilities, services, and solutions, as well as the market strength of a global network.

Brown & Brown, Inc. (NYSE:BRO) reported strong second quarter 2024 results, with total revenues reaching $1.2 billion, a 12.5% increase year-over-year. The company achieved 10.0% Organic Revenue growth and diluted net income per share of $0.90. Adjusted diluted net income per share rose to $0.93, a 17.7% increase. Key highlights include:

- Commissions and fees increased by 11.4%
- Income before income taxes grew 36.2% to $346 million
- EBITDAC - Adjusted rose 17.3% to $420 million
- Net income attributable to the company increased 35.3% to $257 million

For the six months ended June 30, 2024, Brown & Brown reported total revenues of $2.4 billion, a 12.6% increase, with 9.3% Organic Revenue growth.

Brown & Brown has been named one of the 2024 Best Workplaces for Millennials by Great Place To Work® and Fortune Magazine. This recognition is based on feedback from nearly 510,000 millennial employees across eligible companies. To qualify, companies needed to be Great Place To Work Certified™ and have at least 50 millennial employees in the U.S.

Key points:

• The list is highly competitive and reflects a comprehensive workplace experience
• Selection criteria include positive outcomes for millennial employees regardless of demographics
• Brown & Brown values diverse perspectives and considers its team its most important resource
• The company was also awarded the 2023-2024 Platinum Level Bell Seal for Workplace Mental Health and has been Great Place to Work Certified™ for five consecutive years

Brown & Brown (NYSE: BRO) has announced a regular quarterly cash dividend of $0.13 per share. The dividend will be payable on August 14, 2024, to shareholders of record as of August 7, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders and maintaining a consistent dividend policy. The declaration of a regular dividend can be seen as a positive sign of the company's financial stability and confidence in its future cash flows.

Brown & Brown (NYSE: BRO) will announce its 2024 second-quarter earnings on July 22, 2024, after the market closes.

Following the release, a conference call hosted by CEO J. Powell Brown and CFO R. Andrew Watts will take place on July 23, 2024, at 8:00 a.m. EDT. Investors can access the live broadcast and subsequent 14-day replay on the company's website.

Gray Nester, Executive Vice President and Chief Information Officer of Brown & Brown, will deliver the keynote address at Insurity's Excellence in Insurance conference, scheduled for October 28-30 at OMNI Amelia Island Resort, Florida. Nester will share his expertise on transformative leadership, organizational culture, and connectivity, backed by his 25 years of experience in financial services and technology. Brown & Brown, the world's seventh-largest insurance brokerage, has been offering risk management solutions for 85 years. The conference aims to bring together over 300 experts from 115+ insurance companies and MGAs to discuss and generate innovative ideas for the P&C insurance sector.

Brown & Brown, a leading insurance brokerage firm, announced the acquisition of McNamara Company, a family-owned agency established in 1970. McNamara, offering insurance solutions nationwide, will integrate with the Brown & Brown office in Phoenix. The transaction aims to enhance Brown & Brown's commercial and personal insurance lines, especially for franchise owners. McNamara's team will report to Scott Jones, Phoenix team leader. This acquisition reflects Brown & Brown's commitment to expanding its services and capabilities.

Bridge Specialty Group, a niche-focused wholesale entity, has welcomed Public Entities of America (PEA) to its team. PEA, a leading brokerage in the public sector and risk management marketplace, will join Apex Insurance Agency, a part of Bridge Specialty. Michelle Hill, Apex’s vice president, and Karl Snearer, Apex’s president, praised the merger, highlighting PEA’s innovative risk solutions and talented professionals. This move aims to bolster Apex’s capabilities in serving the public sector across the United States.