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President and CEO cites “another outstanding quarter”
Insurance News
By
Terry Gangcuangco
Insurance brokerage Brown & Brown, Inc. has announced its financial results for the third quarter of 2023 – a period described by president and chief executive J. Powell Brown as outstanding.
Here’s how Brown & Brown performed in the three months and nine months ended September 30:
|
Metric
|
Q3 2023
|
Q3 2022
|
9M 2023
|
9M 2022
|
|---|---|---|---|---|
|
Total revenues
|
US$1.1 billion
|
US$927.6 million
|
US$3.2 billion
|
US$2.7 billion
|
|
Income before income taxes
|
US$242.3 million
|
US$218 million
|
US$791 million
|
US$681.8 million
|
|
Net income
|
US$175.9 million
|
US$161.1 million
|
US$601.8 million
|
US$526.6 million
|
Commenting on the numbers, the CEO said: “We had another outstanding quarter and are winning a substantial amount of net new business that drove organic revenue growth of 9.6% for the quarter and over 11% year to date.”
In the UK, Brown & Brown is the name behind Global Risk Partners, which changed its name to Brown & Brown (Europe) Limited in September.
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