AGB 2023.5 - Brown & Brown (BRO)
Consolidator of Middle Market Insurance Brokers
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Brown & Brown
“We have a unique business, and everybody says that. Everybody's business is unique. I'm just going to tell you Brown & Brown is a very decentralized, very flat management style organization where you actually are compensated individually as a leader or a producer on the results that you drive. So, if you run a business unit or multiple business units, your compensation is tied to the performance of that business unit, whether it'd be in an office, the office, a region, whatever the case may be. And so, we are about growing the business. And we are a business that is an operator of businesses. We are not an acquirer of businesses. We are an operator of businesses that happened to do a lot of acquisitions.” – Chief Executive Officer, J. Powell Brown, at the Barclays Global Financial Services Conferences in September 2013.
Brown & Brown is the 6th largest insurance broker based on 2022 revenues. The company …