Brown & Brown

History

Brown & Brown was founded in 1939 as a small insurance agency in Daytona Beach, Florida, by J. Adrian Brown, partnering with his cousin Charles "Cov" Owen. J. Adrian's son, J. Hyatt Brown, joined the agency in 1959, bought the company and became CEO in 1961, and played a key role in its growth and modernization.

In 1980, Brown & Brown restructured to adopt a decentralized model, aiming to boost revenue and profit margins by giving more authority to local teams. This approach encouraged an entrepreneurial culture across the company.

In 1983, the firm changed its name to Brown & Brown, Inc. to reflect its focus on national expansion.

In 1993, the company merged with Poe & Associates. The use of public stock for acquisitions enabled a deliberate expansion strategy focused on acquiring middle-market insurance brokers nationwide.

J. Hyatt Brown retired as CEO in 2009, but remains with the company as chairman. He was succeeded as CEO by his son J. Powell Brown.

In 2021, new headquarters were completed at Daytona Beach, Florida, featuring an 11-story building on 13 acres facing the Halifax River.

Services

Brown & Brown operates through two major business segments:

• Retail: Offers property and casualty insurance and employee benefits products to commercial, public, and individual customers.
• Arrowhead Intermediaries: A purpose-built platform with three distinct divisions, each serving the evolving needs of insurance carriers, brokers and customers worldwide: :*Programs :*Wholesale :*Specialty divisions

The company serves customers in all 50 U.S. states and in select international markets.

Acquisitions

Brown & Brown has grown significantly through strategic acquisitions. Notable acquisitions include:

• Hays Companies (2018) – A major employee benefits and risk management firm based in Minneapolis.
• CoverHound and CyberPolicy (2021) – Digital platforms offering small business and personal lines insurance.
• Orchid Underwriters and CrossCover Insurance Services (2023) – Expanding the company's E&S (excess and surplus) capabilities.
• Global Risk Partners (GRP) (2022) – A major U.K.-based insurance intermediary, marking significant expansion into the European market.
• O’Leary Insurances (2021) - An a comprehensive insurance broking service based in Ireland. The acquisition marked Brown & Brown’s strategic entry into the EU market.
• McNamara Company (2024) - offering a range of insurance solutions for businesses, families, and individuals.
• Accession Risk Management Group, including Risk Strategies (2025) - a private American insurance brokerage and risk management advisor.{{cite web|title=Brown & Brown signs nearly $10 billion deal for rival broker Accession|author=Arasu Kannagi Basil|date= 2025-06-10|website=Reuters|url=https://www.reuters.com/business/brown-brown-signs-98-billion-deal-rival-broker-accession-risk-2025-06-10/}} This acquisition expands Brown & Brown’s presence in property & casualty, employee benefits, and middle-market broker services.

Recognition

• Great Place to Work certified.
• Ranked No. 7 of the World’s 10 Largest Insurance Brokers.

Publications

• Global Impact Report, published annually, and covers the ESG (Environmental, Social, Governance) priorities of the company, including covering teammates, communities, environment, and governance.
• Annual reports
• News releases and press announcements, including acquisitions, dividend announcements, earnings results, and strategic moves

References

References

1. "History - Brown & Brown".
2. [https://sec.report/Document/0001206774-22-000816/ 2021 Proxy Statement]
3. (February 13, 2025). "US SEC Filing: Brown & Brown, Inc. Annual Report (Form 10-K)". [[U.S. Securities and Exchange Commission]].
4. (1 August 2023). "Top 20 Global Insurance Brokers 2023".
5. "Brown & Brown Insurance, LLC".
6. Clayton Park. (2018-10-22). "Brown & Brown to make biggest-ever acquisition".
7. (2025-08-02). "J. Hyatt Brown".
8. "What Drove the Early Growth of Brown & Brown?".
9. "Brown & Brown Insurance Home Campus Building".
10. "Brown & Brown".
11. "Brown & Brown Business Segments".
12. (23 October 2018). "Brown & Brown Completes Acquisition of Hays Companies".
13. (2020-11-09). "Brown & Brown, Inc. Acquires CoverHound and CyberPolicy to Accelerate Digital Insurance Distribution".
14. (2022-05-04). "Brown & Brown Acquires Orchid, CrossCover".
15. (2022-07-07). "Brown & Brown completes Global Risk Partners acquisition".
16. Linda Daly. (2025-04-20). "We were a big player in the Irish market —but we needed more".
17. Terry Gangcuangco. (2024-06-10). "Brown & Brown acquires McNamara Company's assets".
18. "Brown & Brown, Inc.".
19. (2025-06-26). "2024 broker profiles: World’s 10 largest insurance brokers".
20. "2024 Annual Report & 2025 Global Impact Report".