Brown & Brown, Inc. BRO

NYSE Finance USD

Brown & Brown, Inc. is a diversified insurance agency, wholesale brokerage, and insurance programs and service organization headquartered in Daytona Beach, Florida. The company markets and sells insurance products and services primarily in the property, casualty, and employee benefits areas, operating as an agent or broker that does not assume underwriting risks, with limited exceptions through its write-your-own flood insurance carrier and participation in capitalized captive insurance facilities. It serves a wide range of customers including commercial, public, quasi-public, professional, and individual insureds, as well as providing non-insurance services through its automobile dealer services F&I businesses. The company's business model is based on earning commissions from insurance companies, which are typically a percentage of the premium paid by the insured, and to a lesser extent, fees paid directly by customers for specific services such as third-party claims administration, medical utilization management, and policy issuance services.