Brown & Brown organic revenue up 4.3% in Q3Brown & Brown has reported 4.3 percent organic growth for the third quarter, including 8.4 percent in programs and 8.2 percent in wholesale, as the US intermediary reported that premium rates for almost all lines continued to increase at similar levels to the prior quarter.
Brown & Brown buys Frank E Neal & CoUS broker Brown & Brown has bought Tennessee firm Frank E Neal & Co Agency as it adds to its platform in the Southeast region of the US.
Brown & Brown calls off Hauser deal after chairman’s college admissions chargeBrown & Brown has terminated its deal to buy Hauser after the chairman of the Ohio-based insurance agency agreed to plead guilty to charges in a college admission case.
US broker revenue growth to remain positive: FitchLarge publicly-listed US brokers have fared well despite Covid-19 but Fitch believes greater pressure for both commission and fee-based revenue will probably emerge in the second half while financial leverage is expected to decline for several brokers.
Insurance exec Hauser charged in college admissions caseInsurance and private equity executive Mark Hauser, who is in the process of selling his Hauser agency to Brown & Brown, has agreed to plead guilty to charges in a college admission case.
Brown & Brown buys Massachusetts agency AmityUS insurance broker Brown & Brown has acquired substantially all of the assets of Amity Insurance Agency, a Quincy, Massachusetts-based agency founded in 1978.
Brown & Brown buys PE insurance agency HauserBrown & Brown has agreed to acquire the assets of Cincinnati, Ohio-based agency Hauser, in a deal expected to close in September.
Brown and Brown organic revenue growth slows to 0.5% as retail shrinksUS broker Brown & Brown reported that second quarter organic growth slowed to 0.5 percent amid Covid-19 as a decline in its largest retail division of 2.6 percent and a lower 0.1 percent increase in wholesale were tempered by strong underlying growth in national programs of 15.5 percent.
Rising tide buoys brokers tooWhile there are many challenges to be navigated for the P&C sector in the Covid-19 fallout, surging pricing is proving to be a fillip that is lifting brokers as well as carriers.
Truist offers positive organic growth read-across for broking sectorAllied to a more bullish outlook from Arthur J Gallagher at its recent investor meeting and Aon’s move to end its salary cuts, Truist Insurance Holdings’ disclosure on Q2 organic growth adds to incrementally positive news from brokers about the impact of Covid-19 on their business.
Covid-19 to slow M&A activity as valuations reassessed: Brown & BrownAcquisitive US broker Brown & Brown said that the economic slowdown resulting from Covid-19 will impact M&A activity as buyers and sellers seek to factor in the impact on future performance and adjust valuations accordingly.
Brown & Brown to borrow for Covid-19 liquidity as it reports 5.6% organic growthBrown & Brown said it will draw down $250mn from its revolving credit facility to pay for its previously announced LP Insurance Services acquisition and provide additional liquidity to strengthen its financial position in the event that cash flow is hit by Covid-19.
AIG, Scor, Argo all members of the 50% club in Q1 equities bloodbathThe market caps of AIG, Argo and Scor had all fallen by more than 50 percent in the year-to-date before a rally today amidst the Covid-19 driven turmoil in global equities and fears of an impending deep recession.
Brown & Brown acquires MGA The Colonial GroupUS broking giant Brown & Brown has acquired North Carolina-based managing general agency The Colonial Group and its affiliate, Colonial Premium Finance Company.
Brown & Brown organic growth reaches 5.2% in “great” Q4Brown & Brown’s fourth quarter 2019 revenues increased by 5.2 percent year on year on an organic basis, with the company’s president and chief executive praising what he said was “a great” period for the US broker.
Brown & Brown buys Dallas-based MGA Texas All RiskBrown & Brown has acquired substantially all of the assets of Texas All Risk, a managing general agent that places a wide range of insurance in Texas, Louisiana, and Oklahoma.
Brown & Brown promotes insider to lead retail unitUS broker Brown & Brown has promoted Barrett Brown as an executive vice president and president of the company’s retail segment, with immediate effect.
Brown & Brown reports 3.4% organic growth in Q3Brown & Brown reported third quarter organic growth of 3.4 percent that lagged other early reporters, despite a surge in its wholesale brokerage operation where underlying revenues jumped 11 percent.
Brown & Brown appoints technology leaderBrown & Brown has named Arrowhead’s Stephen Boyd as senior vice president of technology, innovation and digital strategy.
Zurich and Wright launch private flood programZurich North America and Brown & Brown-owned Wright National Flood Insurance Services have announced a standalone residential private flood insurance program.