Mon, Jul 22, 9:32 PM (47 days ago)
Brown & Brown, Inc. reported strong financial performance for the quarter ended June 30, 2024. Total revenues increased by 12.5% year-over-year to $1,178 million, driven by an 11.4% rise in commissions and fees and a significant 120% increase in investment income. The company's net income attributable to shareholders rose by 35.3% to $257 million, with a notable improvement in profit margins. The Retail, Programs, and Wholesale Brokerage segments all showed robust growth, with the Programs segment achieving a 15.8% increase in revenues and a 47.6% rise in income before taxes. The company also completed a $600 million issuance of 5.650% senior notes due 2034, enhancing its liquidity position. Overall, Brown & Brown demonstrated strong organic growth, effective cost management, and strategic investments, positioning it well for future operations.