The company said commissions and fees, including profit-sharing contingent commissions, rose $118 million to $1,154 million (a 11.4% increase) for the 3 months ended June 30, 2024, and that its Organic Revenue growth rate was 10.0%.

1. 01

   The company said commissions and fees, including profit-sharing contingent commissions, rose $118 million to $1,154 million (a 11.4% increase) for the 3 months ended June 30, 2024, and that its Organic Revenue growth rate was 10.0%.

2. 02

   Brown & Brown said income before income taxes for Q2 2024 rose $92 million, or 36.2%, from Q2 2023. The company cited net new business, higher investment income and profit-sharing contingent commissions, acquisitions completed in the past 12 months, and a gain on the disposal of certain businesses as drivers.

3. 03

   The company said total revenues for the Programs segment for Q2 increased 15.8%, or $49 million, to $359 million. It said income before income taxes rose 47.6%, or $183 million, and that Organic Revenue growth was 15.4%.

4. 04

   Brown & Brown said it issued $600 million of 5.650% senior notes due 2034 on June 11, 2024. It said net proceeds were approximately $593 million, and that it plans to use them to redeem 4.200% senior notes due September 2024 and for general corporate purposes.

Key figures

Quarter ended June 30, 2024

Revenue

$1.2B

Net income

$257M

EPS

$0.90

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.