Brown & Brown is the 6th largest insurance broker based on 2022 revenues. The company acts as an intermediary between insurance carriers that provide and customers that need insurance products and services. Most of Brown & Brown’s insurance products are under the categories of property & casualty, employee benefits and personal insurance. The company also offers write-your-own flood insurance products through their subsidiary, Wright National Flood Insurance Company, and those products are backed by FEMA, which lowers underwriting risk of this product. Brown & Brown is primarily based in the U.S., with under 7% of revenues coming from international markets in 2022.
B+B acquired my father in laws brokerage a few years ago. Interesting to see thier approach to acquisitions like this.