Recent developments include the announcement of strong Q4 2025 financial results with revenue growth, the launch of a National Healthcare Practice, and a quarterly dividend declaration. The company also mourned the loss of its Chief Legal Officer.

• Brown & Brown announced fourth quarter 2025 results with total revenues of $1.6 billion, a 35.7% increase; organic revenue decreased by 2.8%; diluted net income per share was $0.59; adjusted diluted net income per share was $0.93 [N2].
• The company launched a fully integrated National Healthcare Practice in January 2026 [N2].
• Brown & Brown declared a quarterly cash dividend in January 2026 [N2].
• The company mourned the passing of Chief Legal Officer Robert Mathis in early 2026 [N8].
• Shares dropped following a revenue miss in the fourth quarter as reported by multiple sources [N4][N6].

The company demonstrates strong revenue growth driven by acquisitions and new practice launches such as the National Healthcare Practice. Its liquidity position and diversified debt maturity profile support financial stability. Continued expansion of service offerings and integration of acquired entities could enhance its market position.

Organic revenue decline and potential integration challenges from acquisitions pose risks. The insurance brokerage industry is competitive and sensitive to economic cycles, which may impact client demand and pricing. Changes in regulatory environments or interest rates could affect financial performance and cost of capital.

Brown & Brown's moat is supported by its extensive network of insurance intermediaries and service organizations, a diversified business model across multiple segments, and a track record of strategic acquisitions that enhance its market presence and service capabilities. Its scale and integration in the insurance brokerage industry provide competitive advantages in client relationships and operational efficiency.

• Acquisition Integration Risk: The company's growth strategy relies on acquiring and integrating insurance intermediaries and service organizations, which may present operational and cultural integration challenges.
• Market and Economic Sensitivity: As an insurance broker, Brown & Brown's business is sensitive to economic cycles and market conditions that affect insurance demand and pricing.
• Regulatory and Compliance Risk: Changes in insurance regulations or financial reporting requirements could impact operations and increase compliance costs.
• Liquidity and Debt Maturity Risk: While liquidity ratios are currently adequate, the company has significant debt maturities extending into the future that require ongoing management.

• Brown & Brown Inc operates in the Financial Services sector, specifically as an Insurance Broker.
• The company reported total revenues of $1.6 billion for the fourth quarter of 2025, representing a 35.7% increase year-over-year, with an organic revenue decrease of 2.8% [N2].
• Diluted net income per share for Q4 2025 was $0.59, with an adjusted diluted net income per share of $0.93 [N2].
• The company launched a fully integrated National Healthcare Practice in January 2026 [N2].
• Brown & Brown announced a quarterly cash dividend in January 2026 [N2].
• As of September 30, 2025, the company had cash and cash equivalents of approximately $1.19 billion and short-term investments of $10 million [S2].
• Current assets were $8.14 billion and current liabilities were $6.89 billion as of September 30, 2025, resulting in a current ratio of 1.18 and a cash ratio of 0.17 [S2].
• Net income for the quarter ending September 30, 2025, was $227 million [S2].
• The company operates multiple business segments including Wholesale Brokerage, Specialty Distribution, Programs, and Retail segments as per SEC filings [S2].
• Brown & Brown has a strategy of acquiring high-quality insurance intermediaries and service organizations, with acquisitions noted through 2025 [S1].
• The company has senior notes and term loan facilities with various maturity dates extending through 2055 [S2].
• The company mourned the passing of its Chief Legal Officer Robert Mathis in early 2026 [N8].