Brown & Brown, Inc. completes the acquisition of Accession Risk Management Group
Brown & Brown, Inc. is a leading insurance brokerage firm delivering comprehensive and customized insurance solutions and specialization since 1939. With a global presence spanning 700+ locations and a team of more than 23,000 professionals, following the acquisition of Accession, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at
BBrown.com
.
For more information:
Investors
R. Andrew Watts
Chief Financial Officer
(386) 239-5770
Media
Jenny Goco
Director of Communications
(386) 333-6066
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
27 minutes ago
- Business Wire
KKR Prices $900,000,000 of 5.100% Senior Notes due 2035
NEW YORK--(BUSINESS WIRE)--KKR & Co. Inc. ('KKR') (NYSE: KKR) today announced that it has priced its previously announced offering of $900,000,000 aggregate principal amount of its 5.100% Senior Notes due 2035 (the 'notes'). The notes will be senior obligations of KKR and will be fully and unconditionally guaranteed by KKR Group Partnership L.P. The offering is expected to close on August 7, 2025, subject to customary closing conditions. KKR intends to use the net proceeds from the sale of the notes for repurchase and refinancing of existing indebtedness of its subsidiary, KKR Financial Holdings LLC, and the remaining amount, if any, for general corporate purposes. Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., KKR Capital Markets LLC and UBS Investment Bank are acting as joint book-running managers for the offering. The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the 'SEC'). The offering is being made by means of a prospectus and related preliminary prospectus supplement only. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC's website at Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or emailing prospectus@ Goldman Sachs & Co. LLC toll-free at 1-866-471-2526 or emailing prospectus-ny@ HSBC Securities (USA) Inc. toll-free at 1-866-811-8049; KKR Capital Markets LLC toll-free at 1-212-230-9433; or UBS Investment Bank toll-free at 1-833-481-0269. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, pertaining to KKR. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These forward-looking statements can be identified by the use of words such as 'outlook,' 'believe,' 'think,' 'expect,' 'potential,' 'continue,' 'may,' 'should,' 'seek,' 'approximately,' 'predict,' 'intend,' 'will,' 'plan,' 'estimate,' 'anticipate,' 'visibility,' 'positioned,' 'path to,' 'conviction,' the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR's beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. We believe these factors include those in the sections entitled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at These factors should be read in conjunction with the other cautionary statements that are included in our periodic filings. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this press release. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this press release except as required by law.
Yahoo
an hour ago
- Yahoo
Crypto exchange Bullish targets $4.23 billion valuation in U.S. listing
-- Crypto exchange Bullish is seeking a valuation of up to $4.23 billion in its upcoming initial public offering in the U.S., according to a filing released Monday. The company has launched its IPO roadshow and wants to raise up to $629.3 million by offering 20.3 million shares priced between $28 and $31 each. The crypto exchange plans to list on the New York Stock Exchange under the ticker symbol "BLSH". Jefferies and Citigroup (NYSE:C) are serving as the lead underwriters for the offering. Related articles Crypto exchange Bullish targets $4.23 billion valuation in U.S. listing Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Apollo economist warns: AI bubble now bigger than 1990s tech mania
Yahoo
an hour ago
- Yahoo
Boise Cascade (NYSE:BCC) Misses Q2 Revenue Estimates
Building products company Boise Cascade Company (NYSE:BCC) fell short of the market's revenue expectations in Q2 CY2025, with sales falling 3.2% year on year to $1.74 billion. Its GAAP profit of $1.64 per share was 3.1% below analysts' consensus estimates. Is now the time to buy Boise Cascade? Find out in our full research report. Boise Cascade (BCC) Q2 CY2025 Highlights: Revenue: $1.74 billion vs analyst estimates of $1.75 billion (3.2% year-on-year decline, 0.7% miss) EPS (GAAP): $1.64 vs analyst expectations of $1.69 (3.1% miss) Adjusted EBITDA: $119 million vs analyst estimates of $126.9 million (6.8% margin, 6.2% miss) Operating Margin: 4.6%, down from 8.2% in the same quarter last year Free Cash Flow was -$45.88 million, down from $101.9 million in the same quarter last year Market Capitalization: $3.14 billion 'During the second quarter of 2025, we experienced sequential volume growth driven by seasonally stronger activity, although underlying demand for new residential construction remained muted,' said Nate Jorgensen, CEO. Company Overview Formed through the merger of two lumber companies, Boise Cascade Company (NYSE:BCC) manufactures and distributes wood products and other building materials. Revenue Growth A company's long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Regrettably, Boise Cascade's sales grew at a mediocre 6.5% compounded annual growth rate over the last five years. This was below our standard for the industrials sector and is a rough starting point for our analysis. Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. Boise Cascade's performance shows it grew in the past but relinquished its gains over the last two years, as its revenue fell by 4.2% annually. We can better understand the company's revenue dynamics by analyzing its most important segments, Building Material Distribution and Wood products, which are 92.8% and 25.7% of revenue. Over the last two years, Boise Cascade's Building Material Distribution revenue (plywood, siding, insulation) averaged 2.5% year-on-year declines while its Wood products revenue (lumber and beams) averaged 5.9% declines. This quarter, Boise Cascade missed Wall Street's estimates and reported a rather uninspiring 3.2% year-on-year revenue decline, generating $1.74 billion of revenue. Looking ahead, sell-side analysts expect revenue to grow 2.5% over the next 12 months. While this projection suggests its newer products and services will fuel better top-line performance, it is still below the sector average. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Operating Margin Boise Cascade has managed its cost base well over the last five years. It demonstrated solid profitability for an industrials business, producing an average operating margin of 10%. This result was particularly impressive because of its low gross margin, which is mostly a factor of what it sells and takes huge shifts to move meaningfully. Companies have more control over their operating margins, and it's a show of well-managed operations if they're high when gross margins are low. Looking at the trend in its profitability, Boise Cascade's operating margin decreased by 6.7 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. In Q2, Boise Cascade generated an operating margin profit margin of 4.6%, down 3.5 percentage points year on year. Since Boise Cascade's operating margin decreased more than its gross margin, we can assume it was less efficient because expenses such as marketing, R&D, and administrative overhead increased. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Boise Cascade's EPS grew at an astounding 25.1% compounded annual growth rate over the last five years, higher than its 6.5% annualized revenue growth. However, this alone doesn't tell us much about its business quality because its operating margin didn't improve. Diving into Boise Cascade's quality of earnings can give us a better understanding of its performance. A five-year view shows that Boise Cascade has repurchased its stock, shrinking its share count by 4%. This tells us its EPS outperformed its revenue not because of increased operational efficiency but financial engineering, as buybacks boost per share earnings. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Boise Cascade, its two-year annual EPS declines of 31.7% mark a reversal from its (seemingly) healthy five-year trend. We hope Boise Cascade can return to earnings growth in the future. In Q2, Boise Cascade reported EPS at $1.64, down from $2.84 in the same quarter last year. This print missed analysts' estimates, but we care more about long-term EPS growth than short-term movements. Over the next 12 months, Wall Street expects Boise Cascade's full-year EPS of $6.81 to shrink by 2.3%. Key Takeaways from Boise Cascade's Q2 Results It was good to see Boise Cascade beat analysts' Wood products revenue expectations this quarter. On the other hand, its EBITDA missed and its EPS fell short of Wall Street's estimates. Overall, this was a softer quarter. The stock traded down 1.4% to $81.41 immediately after reporting. Boise Cascade's earnings report left more to be desired. Let's look forward to see if this quarter has created an opportunity to buy the stock. When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
