# Brown & Brown **Source:** https://geo.sig.ai/brands/brown-brown **Vertical:** Consumer Finance **Subcategory:** Enterprise **Tier:** Leader **Website:** brown-brown.com **Last Updated:** 2026-04-14 ## Summary Daytona Beach FL insurance brokerage (NYSE: BRO) $4.5B FY2024 revenue (+12%); decentralized acquisition model, National Programs specialty, 30-year consistent growth competing with Marsh McLennan and Aon. ## Company Overview Brown & Brown, Inc. is a Daytona Beach, Florida-based insurance brokerage and risk management company — publicly traded on the New York Stock Exchange (NYSE: BRO) as an S&P 500 Financials component — providing insurance brokerage, risk management consulting, and third-party claims administration services to businesses and individuals across the United States, Canada, the UK, Ireland, and Bermuda through approximately 16,000 employees at 500+ offices. In fiscal year 2024, Brown & Brown reported revenues of $4.5 billion (+12% organic growth) — continuing its 30-year track record of consistent organic and acquisition-driven revenue growth that has made Brown & Brown one of the fastest-growing large insurance brokers in the US, growing from $1B revenue in 2015 to $4.5B in 2024 through organic growth compounding and disciplined acquisition integration. CEO Powell Brown (son of founder Hyatt Brown, representing the family's generational leadership of the company) leads Brown & Brown's distinctive "decentralized" operating model where each acquired insurance agency retains its local brand identity, leadership team, and community relationships while benefiting from Brown & Brown's national carrier relationships, compliance infrastructure, shared technology, and capital for further acquisition. Brown & Brown's four business segments — Retail (local commercial insurance for small-to-midsize businesses), National Programs (specialty program insurance distributed through managing general agents for specific industries — veterinarians, dentists, pest control, construction), Wholesale Brokerage (surplus lines excess and specialty placement for non-admitted risks), and Services (third-party claims administration) — provide diversified revenue across insurance distribution channels that smooth individual market cycle volatility. Brown & Brown's insurance brokerage model creates competitive advantages through the combination of decentralized cultural acquisition retention and national specialty program distribution: when Brown & Brown acquires a regional commercial insurance agency in, for example, Nashville, Tennessee, the existing agency principal stays in place as a leader with retained ownership incentive (Brown & Brown typically retains the seller as equity partner in the local operation), local client relationships continue without disruption, and the acquired agency immediately gains access to Brown & Brown's carrier appointment relationships (50+ carrier markets that small independent agencies cannot access individually), specialty program products, and shared back-office resources — creating acquisition value without the cultural disruption that large consulting firm acquisitions generate. The National Programs segment (program insurance products for specific professions and industries — Brown & Brown's Proassurance veterinary malpractice program, dental office package, pest control liability program) creates proprietary product distribution franchises where Brown & Brown is the wholesale manager distributing specialty coverage through retail agent networks, earning both wholesale margin and program management fees. In 2025, Brown & Brown competes in US insurance brokerage against Marsh McLennan (NYSE: MMC, $24B revenue, global insurance broker and consulting), Aon (NYSE: AON, $15B revenue, global risk advisory and insurance brokerage), and Hub International (private, $5B+ revenue, mid-market insurance broker) for commercial insurance placement, specialty program management rights, and acquisition targets among regional insurance agencies seeking exit liquidity or growth capital. The hard insurance market environment (commercial property and casualty insurance premiums rising 5-15%+ annually in 2022-2024 due to catastrophic loss experience from hurricanes, wildfires, and social inflation) benefits insurance brokers like Brown & Brown through revenue commission rate improvement — broker commissions are typically 10-15% of premium, so rising premiums automatically increase commission revenue without requiring volume growth. The active M&A pipeline (Brown & Brown completing 20-30 tuck-in acquisitions per year of regional agencies with $5-50M in revenue) drives the inorganic revenue growth that compounds with organic growth to produce Brown & Brown's consistent 12-15% annual revenue growth. The 2025 strategy focuses on organic growth through commercial insurance market hardening, continued regional agency acquisition at disciplined valuation multiples, and National Programs specialty product expansion into new industry verticals. ## Frequently Asked Questions ### What does Brown & Brown do? Brown & Brown is one of the largest independent insurance brokerage firms in the United States, providing risk management solutions, insurance products, and services to businesses, governmental institutions, professional organizations, trade associations, and individuals. The company operates through four business segments: Retail, National Programs, Wholesale Brokerage, and Services, offering everything from property & casualty insurance to employee benefits, claims administration, and specialized risk management solutions. ### When was Brown & Brown founded? Brown & Brown was founded in 1939 in Daytona Beach, Florida, by J. Adrian Brown and his cousin Charles 'Cov' Owen as a small local insurance agency. The company has grown from those humble beginnings into a global insurance brokerage with over 23,000 employees and 700+ locations worldwide, while maintaining its headquarters in the founding city of Daytona Beach. ### Where is Brown & Brown headquartered? Brown & Brown is headquartered in Daytona Beach, Florida, where it was founded in 1939. In 2021, the company completed a new 11-story headquarters building on 13 acres facing the Halifax River in Daytona Beach. While headquartered in Florida, the company operates from over 700 locations across the United States, Canada, Ireland, and the United Kingdom. ### Who are Brown & Brown's customers? Brown & Brown serves a diverse customer base including small and medium-sized enterprises (SMEs), large multinational corporations, governmental institutions, professional organizations, trade associations, and individual consumers. The company's Retail segment focuses on commercial businesses, the National Programs segment serves insurance carrier partners and their policyholders, the Wholesale Brokerage segment works with retail insurance agents and brokers, and the Services segment provides claims administration to various organizational clients. ### How large is Brown & Brown? As of 2025, Brown & Brown has grown to become the 7th largest insurance broker in the world with over 23,000 employees operating from more than 700 locations globally. The company generated $4.71 billion in brokerage revenue in 2024 and has a market capitalization of approximately $31.78 billion. Brown & Brown is a member of the S&P 500 index and trades on the New York Stock Exchange under ticker symbol BRO. ### What makes Brown & Brown different from competitors? Brown & Brown differentiates itself through its decentralized operating model adopted in 1980, which empowers local teams with decision-making authority while providing the backing of a large, financially stable organization. This structure enables strong local client relationships combined with enterprise-scale resources. The company also stands out for its long-term family leadership (three generations of the Brown family), 32 consecutive years of dividend increases, consistent Great Place to Work certifications, and a proven track record of successful acquisitions that have fueled growth while maintaining service quality. ### Who are Brown & Brown's main competitors? Brown & Brown competes with other major global insurance brokers including Marsh & McLennan Companies (ranked #1 globally), Aon plc (#2), Arthur J. Gallagher & Co. (#3), Willis Towers Watson (#4), Hub International Limited, Lockton Companies, Alliant Insurance Services, and USI Insurance Services. While Brown & Brown ranks #7 globally, it competes effectively through its decentralized model, strong local market presence, and specialized expertise across its four business segments. ### Is Brown & Brown publicly traded? Yes, Brown & Brown has been publicly traded on the New York Stock Exchange since its initial public offering in 1993 under the ticker symbol BRO. The company joined the prestigious S&P 500 index in 2021. Despite being public, the company maintains strong family involvement with third-generation CEO J. Powell Brown leading the company and his father J. Hyatt Brown serving as chairman of the board. ### Does Brown & Brown pay dividends? Yes, Brown & Brown has an exceptional dividend history, having increased its dividend for 32 consecutive years as of 2025, making it a member of the S&P 500 Dividend Aristocrats. In 2024, the company raised its dividend by 10% for the 32nd consecutive year and expanded its share buyback authorization to $1.5 billion. The quarterly dividend as of late 2024 was $0.17 per share, representing an annual dividend of $0.60 per share. ### Is Brown & Brown hiring? Yes, Brown & Brown actively recruits talent across its 700+ locations worldwide. The company seeks insurance professionals, account managers, sales executives, risk advisors, and support staff. As a Great Place to Work certified company for seven consecutive years with 94% of teammates saying it's a great place to work, Brown & Brown offers competitive compensation, comprehensive benefits including an Employee Stock Purchase Plan, 401(k) matching, health insurance, and strong career development opportunities. Interested candidates can explore opportunities on the company's careers website. ### What are Brown & Brown's future plans? Brown & Brown's strategy focuses on continued growth through both organic expansion and strategic acquisitions. The August 2025 completion of the $9.8 billion Accession Risk Management Group acquisition—the largest in company history—demonstrates the company's aggressive growth ambitions. Management expects to continue leveraging its decentralized model to pursue additional acquisitions while maintaining focus on organic revenue growth, margin expansion, and cash flow generation. The company aims to strengthen its position among the top global insurance brokers while maintaining its culture of excellence and workplace satisfaction. ### How can I contact Brown & Brown? For general inquiries, you can contact Brown & Brown's corporate headquarters in Daytona Beach, Florida, through their main website at www.brown-brown.com. Since Brown & Brown operates with a decentralized model across 700+ locations, the best approach for insurance services is to visit their contact page or locations directory to find your local office. For claims submissions, contact your local Brown & Brown representative. Corporate communications and investor relations can be reached through the investor relations section of their website at investor.bbrown.com. ## Tags b2c, fintech, insurance, public --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*