Brown & Brown (BRO)
Financials · Insurance brokerage and risk management services
An insurance brokerage and risk management firm that acquires and integrates regional brokers, captive insurance facilities, and finance-and-incentives dealer services across North America.
What Brown & Brown does
Brown & Brown is an insurance brokerage and risk management company that operates through a highly acquisitive growth strategy, recently acquiring RSC Topco (Accession). The company generates revenue from insurance commissions, contingent commissions from insurers, captive insurance underwriting, and automobile/recreational vehicle finance and incentives (F&I) dealer services. The company operates over 710 office locations globally, with significant exposure to U.S. federal government programs and maintains captive insurance facilities that carry underwriting risk.
Themes: ["M&A-driven growth strategy","Captive insurance underwriting","Contingent commission revenue","Dealer services (auto/RV finance)","Inflationary pressures","Cybersecurity risk","Post-acquisition integration","Government program exposure"]
Fundamentals
- Price$67.84 as of 2026-07-09 close
- Market cap$22.9B as of 2026-07-10
- 1-year return-37.3% as of 2026-07-09 close
- P/E19.95 as of 2026-07-10
- Net margin+17.9% as of 2026-07-10
- ROE+9.3% as of 2026-07-10
- Debt / equity0.62 as of 2026-07-10
- Revenue growth (YoY)+29.3% as of 2026-07-10
- Revenue CAGR (3y)+18.2% SEC XBRL
- Beta0.59 as of 2026-07-10
Dividend: yield +1.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["RSC Topco acquisition integration risk: The company faces risks that anticipated cost savings and synergies from the Accession transaction may not materialize as expected, along with potential challenges from increased indebtedness used to finance the acquisition.","Underwriting and captive insurance risk: The company participates in captive insurance facilities that carry claims expense exposure; natural disasters and catastrophic events could significantly impact profitability through claims in these facilities.","Commission revenue volatility and key relationships: Significant loss of or changes to insurance company or intermediary relationships could result in reduced capacity to write business, loss of market share, or material decreases in commissions; revenue is also exposed to government program changes."]
Competitors & peers
- Aon plc
- Arthur J. Gallagher & Co
- Marsh & McLennan Companies
- Willis Towers Watson Public Limited Company
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.