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Brown & Brown’s Net Income Up 31% YOY

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Insurance company Brown & Brown said its revenues for the first quarter of 2021 were $815.3 million, an increase of $116.8 million, or nearly 17 percent, compared to the first quarter of the prior year, with commissions and fees increasing by 17 percent and organic revenue increasing by 9.8 percent.

Net income was $199.7 million, increasing $47.3 million, or 31 percent, as compared to the first quarter last year.

“We had a great quarter,” said J. Powell Brown, president and CEO. “The results were driven by more new business, good retention, and rate increases across all four divisions. Our team did an outstanding job of delivering for our customers in a work-from-anywhere environment.”

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