Latest news with #AccessionRiskManagement
Yahoo
28-07-2025
- Business
- Yahoo
Insurance broker Brown & Brown's profit climbs on fee and commission growth
(Reuters) -Brown & Brown posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in other areas, driven by efforts to guard against climate-related disasters and emerging risks such as cyber threats. The sector's resilience stems from its role as a financial safeguard, making it less sensitive to shifts in discretionary spending or broader economic slowdowns. Its commissions and fees jumped 8.2% to $1.25 billion in the three months ended June 30. Insurance brokerages such as Brown & Brown act as intermediaries between insurers and customers, helping clients find policies that best match their coverage needs. Unlike insurance agents who usually represent one insurer, brokerages work with multiple providers to offer clients a wider range of coverage options. In June, the company said it will buy rival Accession Risk Management in a $9.83 billion cash-and-stock deal. The deal is expected to add heft to Brown & Brown's property and casualty, and employee benefit insurance businesses, while bolstering its footing in the middle-market segment. Total revenue increased 9.1% to $1.29 billion in the reported quarter. Brown & Brown's adjusted net income per share came at $1.03 per share in the second quarter. That compares with 93 cents per share, a year earlier.
Reuters
28-07-2025
- Business
- Reuters
Insurance broker Brown & Brown's profit climbs on fee and commission growth
July 28 (Reuters) - Brown & Brown (BRO.N), opens new tab posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in other areas, driven by efforts to guard against climate-related disasters and emerging risks such as cyber threats. The sector's resilience stems from its role as a financial safeguard, making it less sensitive to shifts in discretionary spending or broader economic slowdowns. Its commissions and fees jumped 8.2% to $1.25 billion in the three months ended June 30. Insurance brokerages such as Brown & Brown act as intermediaries between insurers and customers, helping clients find policies that best match their coverage needs. Unlike insurance agents who usually represent one insurer, brokerages work with multiple providers to offer clients a wider range of coverage options. In June, the company said it will buy rival Accession Risk Management in a $9.83 billion cash-and-stock deal. The deal is expected to add heft to Brown & Brown's property and casualty, and employee benefit insurance businesses, while bolstering its footing in the middle-market segment. Total revenue increased 9.1% to $1.29 billion in the reported quarter. Brown & Brown's adjusted net income per share came at $1.03 per share in the second quarter. That compares with 93 cents per share, a year earlier.
Yahoo
28-07-2025
- Business
- Yahoo
Insurance broker Brown & Brown's profit climbs on fee and commission growth
(Reuters) -Brown & Brown posted a rise in second-quarter profit on Monday as the insurance broker benefited from higher commissions and fees driven by growing demand. Insurance spending has continued to grow, even as businesses and individuals pull back in other areas, driven by efforts to guard against climate-related disasters and emerging risks such as cyber threats. The sector's resilience stems from its role as a financial safeguard, making it less sensitive to shifts in discretionary spending or broader economic slowdowns. Its commissions and fees jumped 8.2% to $1.25 billion in the three months ended June 30. Insurance brokerages such as Brown & Brown act as intermediaries between insurers and customers, helping clients find policies that best match their coverage needs. Unlike insurance agents who usually represent one insurer, brokerages work with multiple providers to offer clients a wider range of coverage options. In June, the company said it will buy rival Accession Risk Management in a $9.83 billion cash-and-stock deal. The deal is expected to add heft to Brown & Brown's property and casualty, and employee benefit insurance businesses, while bolstering its footing in the middle-market segment. Total revenue increased 9.1% to $1.29 billion in the reported quarter. Brown & Brown's adjusted net income per share came at $1.03 per share in the second quarter. That compares with 93 cents per share, a year earlier. 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
Bloomberg
10-06-2025
- Business
- Bloomberg
Brown & Brown to Buy Accession Risk Management for $9.8 Billion
Brown & Brown Inc. agreed to buy Accession Risk Management Group Inc. for $9.8 billion, its largest-ever acquisition. The purchase price will be paid in cash, according to a Tuesday statement. The deal is expected to close in the third quarter.
Wall Street Journal
10-06-2025
- Business
- Wall Street Journal
Brown & Brown Enters $9.83 Billion Deal for Accession Risk Management
Brown & Brown has agreed to acquire Accession Risk Management Group in a cash-and-stock deal worth $9.83 billion, expanding its footprint in insurance distribution and risk specialty. The Daytona Beach, Fla., insurance brokerage said Tuesday that it will pay $8.1 billion in cash and about $1.3 billion in stock priced at $110.57 a share, Brown & Brown's closing price on June 6, for Accession holding company RSC Topco.
