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Brown & Brown, Inc. (BRO)

Brown & Brown is a Florida corporation and an insurance agency, wholesale brokerage, insurance programmes and service organisation, selling mainly in property, casualty and employee benefits. It works principally as an agent or broker, not as an insurer. At the end of 2025 it operated from 468 locations across 47 states in the United States and 246 locations abroad.

Brown & Brown, Inc.

Brown & Brown is a Florida corporation and an insurance agency, wholesale brokerage, insurance programmes and service organisation, selling mainly in property, casualty and employee benefits. It works principally as an agent or broker, not as an insurer. At the end of 2025 it operated from 468 locations across 47 states in the United States and 246 locations abroad.

Where those overseas locations are

Belgium, Bermuda, Canada, the Cayman Islands, France, Germany, Hong Kong, India, Italy, Malaysia, the Netherlands, the Republic of Ireland, Singapore, the United Arab Emirates and the United Kingdom.

The exception to not carrying risk

Brown & Brown mostly does not assume underwriting risk, but the filing sets out where it does, and the list is specific: reinsurance companies and stand-alone captives that assume underwriting risk, series captive insurance companies, protected cell companies, segregated account companies, a quota share captive and an excess of loss layer captive. The company calls these collectively the Captives, and says they add underwriting capacity, generate additional revenue and let it share in certain underwriting results.

There is one further exception. The company operates a write-your-own flood insurance carrier, Wright National Flood Insurance Company. Its underwriting is policies written under the National Flood Insurance Program, administered by the Federal Emergency Management Agency, to which the premiums and the underwriting exposure are ceded, plus excess flood policies that are fully reinsured in the private market. So the flood carrier writes the business without ultimately retaining the risk.

Two segments, as of 2025

The segment structure changed during the year. Alongside the acquisition of RSC, the holding company for Accession Risk Management Group, in the third quarter of 2025, the company went from three segments to two, folding Programs and Wholesale Brokerage together into a new Specialty Distribution segment.

Retail sells a broad range of insurance products and services to commercial, public and quasi-public bodies, and to professional and individual customers, alongside non-insurance warranty services and products through its car and recreational vehicle dealer services businesses.

Specialty Distribution holds the programmes and wholesale brokerage work that were previously reported separately.

The filing notes that prior period segment figures have been restated onto the new basis so the comparison is like for like, and that the change has no effect on any previously reported consolidated statement.

From Brown & Brown's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Brown & Brown became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 26 October 2026
Revenue
$1.7 billion
+7.4% on the year · +2.9% on the quarter
Q4 FY2024Q3 FY2026
Net income
$240 million
+5.7% on the year · -16.7% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.67
-1.5% on the year · -20.2% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 12 February 2026
Revenue
$5.9 billion
+22.8% on the year
FY2018FY2025
Net income
$1.1 billion
+6.1% on the year
FY2018FY2025
Diluted EPS
$3.16
-8.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsBrown & Brown (BRO) reported revenue of $5.9 billion for fiscal 2025, the year ended 31 December 2025, up 22.8% on the year before. Net income was $1.1 billion and diluted earnings per share $3.16. Revenue was $4.8 billion in fiscal 2024, $4.3 billion in fiscal 2023, $3.6 billion in fiscal 2022 and $3.1 billion in fiscal 2021. Net income in the same years was $993 million, $870 million, $672 million and $587 million. Over the twelve months to 30 September 2026, Brown & Brown reported revenue of $6.9 billion and net income of $1.2 billion. Revenue grew 17.7% a year, compounded, over the five years to fiscal 2025. Brown & Brown declared $0.67 a share in dividends over the last four quarters and had 327 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Brown & Brown was $23.6 billion, 22.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE9.7%
ROCEn/a
Operating marginn/a
Net margin17.6%
FCF margin21.5%
Interest covern/a
Debt to equity0.62x
Cash conversion1.30x
Share count, last 12 months-3.0%
Sales CAGR, 3 years18.2%
Profit CAGR, 3 years16.2%
EPS, TTM$3.16

At the close of 6 November 2026

Price$72.11
Market cap$23.6 billion
Stock P/E22.8x
Price to book1.9x
EV / EBITDAn/a
Dividend yield0.9%
Market cap / sales3.4x
52-week high$82.33
52-week low$54.38
Price, 1 year-5.6%
Price CAGR, 3 years0.5%
Price CAGR, 5 years3.1%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Brown & Brown, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
BROgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 * †Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023 †Q2 FY2023 †Q3 FY2023 †Q4 FY2023 * †Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue7389058409289011,1161,0471,0681,0261,2581,1781,1861,1831,4041,2851,6061,6071,9011,6761,725
Operating income141265199218194294254242355364346317n/an/an/an/an/an/an/an/a
Operating margin19%29%24%24%22%26%24%23%35%29%29%27%n/an/an/an/an/an/an/an/a
Interest expense16.218.336.041.545.447.048.047.547.948.049.050.046.046.051.010010099.0100100
Pre-tax income141265199218194294254242355364346317276427311311322533383320
Tax rate28%17%27%26%25%20%25%27%24%20%25%25%24%22%25%26%16%20%25%25%
Net income102220145161145236190176269293257234209331231227265426288240
Net margin14%24%17%17%16%21%18%16%26%23%22%20%18%24%18%14%16%22%17%14%
Diluted EPS$0.36$0.77$0.51$0.57$0.51$0.83$0.67$0.62$0.94$1.02$0.90$0.81$0.73$1.15$0.78$0.68$0.59$1.06$0.84$0.67
Operating cash flow31510424325428260.032931630513.0360440361213325468444262346532
Capital expenditure10.410.08.314.120.212.013.313.830.013.026.023.020.017.015.016.020.021.017.039.0
Free cash flow30493.623424026148.03153022750.0334417341196310452424241329493
Buybacks0.024.150.00.00.00.10.00.00.0n/an/an/an/a0.00.00.0100250250250
Dividends paid28.928.929.029.032.633.032.632.737.138.037.036.043.043.043.051.056.057.055.057.0
Shares outstanding282m283m282m283m283m284m284m284m285m285m285m286m286m287m330m337m336m335m330m327m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009FY2010FY2011FY2012 †FY2013FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Revenue9789689731,0141,2001,3631,5761,6611,7671,8812,0142,3922,6133,0513,5734,2574,8055,9026,909
Operating income2722552662713053583404034234504625266247638761,146n/an/an/a
Operating margin27.9%26.3%27.3%26.7%25.4%26.2%21.6%24.2%24.0%23.9%23.0%22.0%23.9%25.0%24.5%26.9%n/an/an/a
Interest expense14.714.614.514.116.116.428.439.239.538.340.663.759.065.0141190193297399
Pre-tax income2722552662713053583404034234504625266247638761,1461,3031,3711,558
Income tax10610110410712114013315916650.1118127144176204275301304331
Effective tax rate39.0%39.8%39.2%39.4%39.6%39.3%39.1%39.6%39.2%11.1%25.6%24.2%23.0%23.0%23.3%24.0%23.1%22.2%21.2%
Net income1661531621641842172072432574003443994805876728709931,0541,219
Net margin17.0%15.8%16.6%16.2%15.3%15.9%13.1%14.7%14.6%21.2%17.1%16.7%18.4%19.2%18.8%20.4%20.7%17.9%17.6%
Diluted EPS$0.58$0.54$0.56$0.56$0.63$0.74$0.70$0.85$0.91$1.41$1.22$1.40$1.69$2.07$2.37$3.05$3.46$3.16$3.16
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Retail5835756076447378248709179431,0431,3671,4731,7682,1572,5082,7293,40658.6%
Specialty Distributionn/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,7142,0162,40941.4%
London Operation6.6n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
National Programs191176164253301404429449480494518611702n/an/an/an/an/a
Other2.84.1n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Programsn/an/an/an/an/an/an/an/an/an/an/an/an/a958n/an/an/an/a
Services32.746.466.0117131137145156165189194174179n/an/an/an/an/a
Wholesale Brokerage158172174184194212217243272287310353403453n/an/an/an/a
RetailSpecialty Distribution FY2023 to FY2025Wholesale Brokerage FY2009 to FY2022Programs FY2022National Programs FY2009 to FY2021Services FY2009 to FY2021Other FY2009 to FY2010London Operation FY2009
973FY20101,364FY20131,765FY20162,390FY20193,568FY20225,815FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2010 to FY2025

The profit before tax each segment reports. Costs Brown & Brown does not charge to a segment are left out, so the segments can add up to more than the company's own profit before tax.

FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Retail12813814516215718218819721822326233447753760270720.8%
Specialty Distributionn/an/an/an/an/an/an/an/an/an/an/an/an/a67777886535.9%
National Programs70.360.551.561.273.267.791.8110117144183242n/an/an/an/an/a
Other30.228.048.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Programsn/an/an/an/an/an/an/an/an/an/an/an/a283n/an/an/an/a
Services7.77.716.825.817.919.724.330.534.540.328.028.3n/an/an/an/an/a
Wholesale Brokerage29.936.543.447.58.364.762.668.870.282.793.694.8118n/an/an/an/a
RetailSpecialty Distribution FY2023 to FY2025Wholesale Brokerage FY2010 to FY2022National Programs FY2010 to FY2021Programs FY2022Services FY2010 to FY2021Other FY2010 to FY2012
271FY2011296FY2013334FY2015406FY2017490FY2019700FY20211,214FY20231,572FY2025

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Retail59%45%
Specialty Distribution41%55%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a profit before tax figure. A margin is a segment's profit before tax over its own sales.

Revenue by product or service FY2018 to FY2025

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Core Commission Revenue1,3621,5741,7512,0102,3772,8683,2823,94168.4%
Fee Revenue5316476748339129959921,27822.2%
Profit-Sharing Contingent Commission Revenue55.959.271.082.289.01301662554.4%
Other Supplemental Commissions Revenuen/an/a1101221591781882063.6%
Earned premiumn/an/a0.00.026.028.077.083.01.4%
Guaranteed Supplemental Commission Revenue10.023.1n/an/an/an/an/an/an/a
Incentive Commissions Revenue51.181.3n/an/an/an/an/an/an/a
Not assigned to a part in the filingn/an/an/an/an/an/a100139n/a
Core Commission RevenueFee RevenueProfit-Sharing Contingent Commission RevenueOther Supplemental Commissions Revenue FY2020 to FY2025Earned premium FY2022 to FY2025Incentive Commissions Revenue FY2018 to FY2019Guaranteed Supplemental Commission Revenue FY2018 to FY2019
2,010FY20182,385FY20192,606FY20203,048FY20213,563FY20224,199FY20234,705FY20245,763FY2025

$ million; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Not assigned to a part in the filing is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Revenue by region FY2020 to FY2025

FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States2,5782,9733,3333,7304,1405,05985.7%
United Kingdom12.715.517043354559910.1%
Other6.27.19.094.01202444.1%
Bermuda, Canada, Cayman Islands, Ireland and the United Kingdomn/a78.0n/an/an/an/an/a
Canada16.221.323.0n/an/an/an/a
England, Bermuda, Cayman Islands and Ireland35.1n/an/an/an/an/an/a
Ireland0.0n/a38.0n/an/an/an/a
United StatesUnited KingdomOtherCanada FY2020 to FY2022Ireland FY2022Bermuda, Canada, Cayman Islands, Ireland and the United Kingdom FY2021England, Bermuda, Cayman Islands and Ireland FY2020
2,648FY20203,095FY20213,573FY20224,257FY20234,805FY20245,902FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

Follow the cashA discounted cash flow: five years of free cash flow, added up in today's moneyNot for Brown & Brown: an insurer's operating cash flow includes premiums it holds to pay claims later, so it is not cash the owners can take out. Book value and return on equity, in the ratios above, are the usual measures for it.

FY2008FY2009FY2010FY2011FY2012 †FY2013FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Operating cash flow342222296238220389385n/an/a4425686787138098811,0101,1741,4501,584
Capital expenditure14.111.310.513.624.016.424.918.417.824.241.573.170.745.052.068.982.068.097.0
Free cash flow328210286224196373360n/an/a4185266056427648299411,0921,3821,487
Free cash flow margin33.5%21.7%29.3%22.1%16.4%27.4%22.9%n/an/a22.2%26.1%25.3%24.6%25.0%23.2%22.1%22.7%23.4%21.5%
Cash from investing-277-55.4-166-176-436-381n/an/an/a-62.6-952-414-759-397-1,913-587-898-7,914-338
Cash from financing-24.5-47.6-53.7-48.5149-25.6n/an/an/a-337338-79.2355-2101,725-187-64.07,713-1,127
Depreciation13.313.212.612.415.417.520.920.921.022.722.823.426.333.339.040.044.055.072.0
Share-based compensation7.37.46.811.215.922.619.415.516.130.633.547.059.761.066.189.010193.089.0
Buybacksn/an/an/an/an/a0.075.016418.912991.258.755.182.674.10.00.0100850
Dividends paid40.242.944.546.549.553.559.364.170.377.784.791.3101107120135154193225
Dividend per share$0.14$0.15$0.16$0.16$0.17$0.18$0.20$0.23$0.25$0.28$0.31$0.33$0.35$0.38$0.42$0.48$0.54$0.62n/a
Diluted shares, weighted274m275m279m281m284m285m286m280m276m278m276m275m276m277m279m281m284m313m330m
Shares outstanding at period endn/a284m286m287m288m291m287m278m280m276m280m282m283m282m283m285m286m336m327m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009FY2010FY2011FY2012 †FY2013FY2014FY2015 †FY2016 †FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,2421,3701,5061,6441,8072,0072,1142,1502,3602,5833,0013,3503,7544,1974,6075,5796,43712,57312,601
Non-controlling interestn/an/an/an/an/an/an/an/an/an/an/an/an/a0.10.40.2n/an/an/a
Short-term borrowingsn/an/an/an/an/an/a25.025.0n/an/an/an/an/an/an/an/an/an/an/a
Debtn/a2502522514504801,1981,1451,0749761,5071,5552,0962,0233,9423,7963,8247,6137,759
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a0.0168173180196179189243279
Other liabilitiesn/a6046437128711,1621,6191,6601,8292,1892,1812,5492,9433,3965,2285,3307,1629,5628,809
Total liabilities and equityn/a2,2242,4012,6073,1283,6504,9564,9805,2635,7486,6897,6238,9669,79513,97414,88317,61229,99129,448
Owned
Fixed assetsn/a61.559.761.474.374.784.781.875.877.1100149201212240270319367389
Goodwilln/a1,0741,1951,3231,7122,0062,4612,5872,6752,7163,4333,7464,3964,7376,6747,3417,97015,08715,188
Intangible assetsn/a4694824965676197857457076418999171,0501,0811,5951,6211,8144,9064,468
Investmentsn/a8.27.78.18.210.611.213.715.025.012.912.318.312.912.011.010.0n/an/a
Cash and equivalents78.61972732862032034704435165734395426566936507006751,0791,099
Other assetsn/a4143844325657361,1451,1101,2731,7151,8052,2572,6453,0594,8024,9406,8248,5528,304
Total assetsn/a2,2242,4012,6073,1283,6504,9564,9805,2635,7486,6897,6238,9669,79513,97414,88317,61229,99129,448
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded13.5%17.7%18.2%26.1%
Profit growth, compounded15.8%17.0%16.2%22.1%
Return on equity, average13.1%13.6%13.1%8.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Brown & Brown's revenue in fiscal 2025?

Brown & Brown (BRO) reported revenue of $5.9 billion for fiscal 2025, the year ended 31 December 2025, up 22.8% on the year before.

How much did Brown & Brown earn in fiscal 2025?

Net income was $1.1 billion for fiscal 2025, and diluted earnings per share $3.16.

What is Brown & Brown's P/E ratio?

At the close of 6 November 2026, Brown & Brown traded at 22.8 times its earnings over the twelve months to 30 September 2026.

What is Brown & Brown's market cap?

The market cap of Brown & Brown was $23.6 billion at the close of 6 November 2026.

Does Brown & Brown pay a dividend?

Yes. Brown & Brown declared $0.67 a share in dividends over the four quarters to 30 September 2026.

Peers: Insurance

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Marsh & McLennan Companies, Inc. MRSH$97.3 billion24.4927.1%21.4%7.6%1.271.8%
Arthur J. Gallagher & Co. AJG$72.2 billion43.067.1%13.1%25.6%0.541.0%
Aon plc AON$71.0 billion18.3438.9%26.3%3.8%2.610.9%
Willis Towers Watson plc WTW$30.3 billion20.0720.1%22.0%4.8%0.841.2%
Brown & Brown, Inc. BRO$23.6 billion22.829.7%n/a26.1%0.620.9%
Equitable Holdings, Inc. EQH$14.1 billion10.11n/a16.3%8.6%n/a2.2%
Erie Indemnity Co. ERIE$12.6 billion24.7822.6%17.9%2.0%n/a2.1%
Enact Holdings, Inc. ACT$6.3 billion9.6713.1%68.5%2.5%0.141.9%
Hagerty, Inc. HGTY$6.2 billionn/a23.4%4.5%-0.9%0.96n/a
Accelerant Holdings ARX$4.3 billionn/a-180.6%-110.8%n/a0.17n/a
Corvel Corp. CRVL$4.2 billion34.9428.2%n/a8.3%n/an/a
Neptune Insurance Holdings Inc. NP$3.9 billion90.02n/a41.3%n/an/an/a
All 112 in Insurance
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Berkshire Hathaway Inc. BRK.B$1.23 trillion14.3611.5%15.0%3.9%n/an/a
UnitedHealth Group Inc. UNH$353.2 billion22.5115.3%5.3%3.3%0.712.3%
Chubb Ltd. CB$139.6 billion12.7715.3%22.3%5.7%0.251.1%
Progressive Corp. PGR$132.0 billion11.4833.7%16.0%7.7%0.246.1%
Marsh & McLennan Companies, Inc. MRSH$97.3 billion24.4927.1%21.4%7.6%1.271.8%
Elevance Health, Inc. ELV$92.0 billion18.1511.5%2.7%3.6%0.691.6%
Travelers Companies, Inc. TRV$81.0 billion10.3128.7%21.2%1.1%0.341.2%
Cigna Group CI$77.4 billion12.9613.8%3.4%6.8%0.722.1%
Manulife Financial Corporation MFC *$72.5 billion19.6611.1%n/an/a0.153.3%
Arthur J. Gallagher & Co. AJG$72.2 billion43.067.1%13.1%25.6%0.541.0%
Aon plc AON$71.0 billion18.3438.9%26.3%3.8%2.610.9%
Allstate Corp. ALL$63.4 billion5.7735.9%21.1%5.1%0.231.7%
Metlife Inc. MET$62.0 billion12.8023.1%8.2%14.8%0.642.4%
Aflac Inc. AFL$61.5 billion18.2412.0%25.9%-6.2%0.281.9%
Humana Inc. HUM$52.1 billion42.176.6%1.5%22.0%0.660.8%
Prudential Financial Inc. PRU$40.9 billion10.8613.1%7.8%6.5%0.674.7%
American International Group, Inc. AIG$40.3 billion12.668.5%14.5%1.2%0.222.4%
Sun Life Financial Inc. SLF *$39.6 billion16.2414.5%n/a8.0%0.333.7%
Hartford Insurance Group, Inc. HIG$35.8 billion8.1124.4%18.2%6.2%0.231.8%
Arch Capital Group Ltd. ACGL$34.9 billion8.7819.0%25.9%-3.9%0.194.7%
Centene Corp. CNC$34.5 billion23.886.6%0.5%9.7%0.70n/a
Everest Group, Ltd. EG$30.6 billion8.6913.3%13.9%-8.7%n/a1.9%
Willis Towers Watson plc WTW$30.3 billion20.0720.1%22.0%4.8%0.841.2%
Cincinnati Financial Corp. CINF$28.5 billion10.8816.5%24.8%9.9%0.052.0%
W. R. Berkley Corp. WRB$27.9 billion15.9119.4%n/a1.5%n/a2.5%
Markel Group Inc. MKL$23.7 billion13.779.7%15.7%2.5%0.24n/a
Principal Financial Group Inc. PFG$23.6 billion12.3516.7%14.7%5.2%0.372.9%
Brown & Brown, Inc. BRO$23.6 billion22.829.7%n/a26.1%0.620.9%
Loews Corp. L$22.2 billion15.208.1%10.8%2.8%0.460.2%
Reinsurance Group of America Inc. RGA$17.0 billion10.1214.7%8.0%22.5%0.461.4%
Assurant, Inc. AIZ$15.1 billion14.4517.9%9.8%9.4%n/a1.1%
Corebridge Financial, Inc. CRBG$15.0 billion7.3132.7%16.6%13.3%0.832.9%
Globe Life Inc. GL$14.5 billion10.5317.9%23.3%5.6%0.450.8%
Renaissancere Holdings Ltd. RNR$14.2 billion9.7813.8%30.1%-20.9%0.210.5%
Equitable Holdings, Inc. EQH$14.1 billion10.11n/a16.3%8.6%n/a2.2%
CNA Financial Corp. CNA$12.8 billion12.4710.1%8.5%2.1%0.248.2%
American Financial Group Inc. AFG$12.8 billion12.6121.6%15.2%3.3%0.394.5%
Erie Indemnity Co. ERIE$12.6 billion24.7822.6%17.9%2.0%n/a2.1%
Unum Group UNM$11.9 billion54.432.3%2.4%-4.2%0.352.5%
Fidelity National Financial, Inc. FNF$11.7 billion11.2114.2%17.0%6.4%0.594.7%
Molina Healthcare, Inc. MOH$10.8 billionn/a-1.2%0.4%-0.9%0.91n/a
Oscar Health, Inc. OSCR$9.5 billion12.6638.5%5.4%54.8%0.19n/a
Old Republic International Corp. ORI$9.5 billion8.9218.8%13.8%12.5%n/a9.2%
Voya Financial, Inc. VOYA$8.9 billion15.9216.4%8.9%-0.3%0.551.9%
Primerica, Inc. PRI$8.9 billion11.4828.2%29.4%8.3%0.211.6%
Jackson Financial Inc. JXN$8.7 billion10.7310.4%56.7%34.1%0.332.7%
Kinsale Capital Group, Inc. KNSL$8.6 billion16.7227.4%33.7%8.3%0.120.2%
Hanover Insurance Group, Inc. THG$8.3 billion11.6121.8%15.2%5.0%0.25n/a
Axis Capital Holdings Ltd. AXS$7.6 billion8.0616.1%17.5%9.8%0.211.7%
Lincoln National Corp. LNC$7.6 billion2.4835.2%20.0%10.3%0.684.5%
First American Financial Corp. FAF$6.8 billion9.4413.6%11.9%14.1%n/a3.3%
Enact Holdings, Inc. ACT$6.3 billion9.6713.1%68.5%2.5%0.141.9%
RLI Corp. RLI$6.3 billion15.9323.3%25.8%4.6%0.183.9%
Hagerty, Inc. HGTY$6.2 billionn/a23.4%4.5%-0.9%0.96n/a
Selective Insurance Group Inc. SIGI$5.9 billion11.9514.8%11.9%4.0%0.261.7%
Mgic Investment Corp. MTG$5.8 billion8.8914.3%73.2%-2.2%n/a2.2%
Essent Group Ltd. ESNT$5.6 billion8.6712.2%59.2%9.6%n/a2.1%
White Mountains Insurance Group Ltd. WTM$5.4 billion5.9518.1%30.7%44.9%0.170.0%
CNO Financial Group, Inc. CNO$5.1 billion12.6618.0%14.8%2.3%0.581.2%
Radian Group Inc. RDN$4.7 billion8.8112.0%38.3%65.3%0.132.8%
Mercury General Corp. MCY$4.6 billion7.1222.9%12.9%5.4%0.201.5%
Accelerant Holdings ARX$4.3 billionn/a-180.6%-110.8%n/a0.17n/a
Corvel Corp. CRVL$4.2 billion34.9428.2%n/a8.3%n/an/a
Palomar Holdings, Inc. PLMR$4.1 billion19.5122.0%22.8%58.5%0.30n/a
Neptune Insurance Holdings Inc. NP$3.9 billion90.02n/a41.3%n/an/an/a
Hamilton Insurance Group, Ltd. HG$3.6 billion7.0631.2%28.3%14.8%0.05n/a
Assured Guaranty Ltd. AGO$3.2 billion10.406.0%33.8%-4.2%0.322.0%
Genworth Financial Inc. GNW$3.2 billion67.000.6%3.3%-0.6%0.17n/a
Lemonade, Inc. LMND$3.1 billionn/a-30.6%-12.6%69.5%n/an/a
F&G Annuities & Life, Inc. FG$3.1 billion3.1023.8%n/a-0.4%0.514.3%
Slide Insurance Holdings, Inc. SLDE$3.0 billion5.8944.8%50.4%n/a0.02n/a
SiriusPoint Ltd. SPNT$3.0 billion6.4022.5%17.6%18.1%0.30n/a
Baldwin Insurance Group, Inc. BWIN$3.0 billionn/a-9.2%-6.9%18.9%2.67n/a
NMI Holdings, Inc. NMIH$2.9 billion7.6614.5%68.1%6.9%n/an/a
Skyward Specialty Insurance Group, Inc. SKWD$2.7 billion14.0715.0%13.5%35.3%0.33n/a
Porch Group, Inc. PRCH$2.6 billion246.38127.2%7.7%23.4%53.60n/a
Clover Health Investments, Corp. CLOV$2.6 billion483.003.2%0.5%54.5%0.00n/a
Brighthouse Financial, Inc. BHF$2.5 billion4.3713.6%14.0%-9.4%0.63n/a
HCI Group, Inc. HCI$2.3 billion7.5229.3%49.6%20.1%0.030.9%
Horace Mann Educators Corp. HMN$2.2 billion12.4112.5%12.5%4.2%0.422.7%
Goosehead Insurance, Inc. GSHD$2.0 billion40.58n/a23.3%17.7%n/an/a
Kemper Corp. KMPR$2.0 billionn/a-22.6%n/a-4.5%0.433.8%
Trupanion, Inc. TRUP$1.6 billion60.316.7%1.8%11.4%0.26n/a
Alignment Healthcare, Inc. ALHC$1.5 billion56.3810.4%0.9%35.9%1.17n/a
Safety Insurance Group Inc. SAFT$1.5 billion21.828.2%7.0%4.6%0.063.5%
Twfg, Inc. TWFG$1.5 billion47.5117.4%17.3%36.2%0.05n/a
Stewart Information Services Corp. STC$1.4 billion11.777.2%5.2%20.5%0.394.5%
Universal Insurance Holdings, Inc. UVE$1.3 billion5.8336.0%19.0%5.5%0.151.3%
United Fire Group Inc. UFCS$1.2 billion9.1014.6%11.5%11.6%0.161.6%
Ategrity Specialty Insurance Co. Holdings ASIC$1.2 billion12.1715.0%24.4%n/an/a0.0%
Bowhead Specialty Holdings Inc. BOW$1.1 billion19.1513.3%11.7%23.8%0.33n/a
Heritage Insurance Holdings, Inc. HRTG$983 million4.6736.1%34.1%2.3%0.12n/a
Hippo Holdings Inc. HIPO$929 million28.826.8%6.2%20.6%n/an/a
Employers Holdings, Inc. EIG$832 million25.993.5%4.1%-13.0%0.162.8%
Donegal Group Inc. DGICA$701 million10.0210.5%8.9%-3.4%n/a4.0%
Root, Inc. ROOT$659 million9.1324.8%6.7%7.9%0.60n/a
Ethos Technologies Inc. LIFE$558 millionn/a-23.0%-16.1%n/an/an/a
Crawford & Co. CRD-A$554 million21.9414.1%3.9%-3.6%0.81n/a
American Integrity Insurance Group, Inc. AII$528 million5.9923.8%36.2%29.3%0.00n/a
Greenlight Capital RE, Ltd. GLRE$522 million9.458.4%8.8%3.7%0.01n/a
Investors Title Co. ITIC$483 million11.9814.1%17.7%8.7%n/a4.1%
American Coastal Insurance Corp. ACIC$475 million5.7424.5%37.7%-5.3%0.427.5%
Amerisafe Inc. AMSF$363 million9.1017.0%15.0%7.7%n/a8.3%
NI Holdings, Inc. NODK$311 million21.266.1%7.7%-12.9%0.01n/a
Kingstone Companies, Inc. KINS$296 million7.1230.7%21.2%24.5%0.030.8%
Mbia Inc. MBI$235 millionn/an/a-155.2%18.0%n/an/a
Kingsway Corp. KWY$230 millionn/a-79.5%0.7%23.6%5.13n/a
Octave Specialty Group Inc. OSG$226 millionn/a-23.0%-24.3%26.8%0.22n/a
Citizens, Inc. CIA$208 million25.694.0%3.8%4.1%n/an/a
James River Group Holdings, Inc. JRVR$180 million10.145.8%3.8%-1.8%n/a1.0%
Roadzen Inc. RDZN$100 millionn/an/a-21.6%30.5%n/an/a
Ryan Specialty Holdings, Inc. RYANn/an/a23.4%15.6%9.8%8.231.1%
18 companies share its SEC industry code (Insurance Agents, Brokers & Service); the rest are the names nearest in size in its wider industry, Insurance, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on BRO

Dividends$0.665 a share over the four quarters to 30 September 2026, a 0.92% yield
Filings22 in twelve months: 12 current reports (8-K), about 4 results of operations; 4 officer or director change; 3 regulation FD disclosure; 1 material agreement; 1 new financial obligation
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.35 by open interest at the 6 November 2026 close; the straddle prices a 7.2% move to 20 November 2026
13F holders813 funds reported a position for the quarter to 30 June 2026; largest First Eagle Investment Management, LLC
Insider trading0 sales and 2 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest16.3 million shares short, 7.01 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202626 October 2026EDGAR
10-Q30 June 202627 July 2026EDGAR
10-Q31 March 202627 April 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202528 July 2025EDGAR
10-Q31 March 202528 April 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q30 September 202428 October 2024EDGAR
10-Q30 June 202422 July 2024EDGAR

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