Brown & Brown, Inc. is one of the largest independent insurance intermediaries in the United States, operating as a middleman between customers seeking coverage and the insurance carriers that provide it. Founded in 1939 and headquartered in Daytona Beach, Florida, the company does not assume underwriting risk itself; instead, it generates revenue primarily through commissions and fees tied to the placement of insurance policies, as well as service fees for consulting and claims administration.
The company's operations have historically been divided into four main segments: Retail, which provides a broad range of property, casualty, and employee benefits products to commercial and individual clients; Programs, which offers tailored insurance programs for niche markets and professional groups; Wholesale Brokerage, which markets excess and surplus commercial and personal lines through independent agents; and Services, which provides third-party claims administration and medical utilization management. Recently, the company reorganized its structure into two primary segments: Retail and Specialty Distribution.
Brown & Brown has grown significantly through a deliberate strategy of acquiring middle-market insurance brokers, expanding its geographic footprint across the United States and internationally into markets such as the United Kingdom, Ireland, Canada, and Bermuda. Its decentralized operating model empowers local teams while leveraging the market access and specialty expertise of a national brokerage, allowing it to maintain a strong competitive position in the global insurance brokerage industry.
