j-powell-brown-president-ceo-brown-brown-1
J Powell Brown, President & Chief Executive Officer at Brown & Brown
26 April 2022Insurance

Brokerage Brown & Brown ups Q1 net take on 11% revenue increase

US insurance brokerage  Brown & Brown padded its first quarter net take by $20.6 million or 10% versus the prior year period for $220.3 million on the bottom line, then offered to put about 12% of the sum to shareholders via dividend.

Q1 GAAP revenues of $904.7 million rose by $89.4 million or 11% to largely match growth in the key line of commissions and fees. Organic revenues were said to have grown by 7.8%.

The group's core operating margin measure of adjusted EBITDAC rose 11.1% to $323.3 million with margin flat from the prior period at 35.7%.

J. Powell Brown (pictured), president and chief executive officer of the company, noted, “We are very pleased with the strong results achieved for the first quarter of 2022. Our teammates continue to perform at a high level, delivering innovative solutions to our customers.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
18 May 2022   The broker says it is on a ‘technology journey’ to drive meaningful change across business.
Insurance
1 April 2022   The deal includes Orchid’s MGU, wholesaling business, and its high-net-worth segment.
Insurance
8 March 2022   GRP is an acquisitive insurance broking and MGA investment vehicle with annual revenue of approximately $340m.