Brown & Brown reports quarterly financials
Brown & Brown reports quarterly financials | Insurance Business America
Insurance News
Brown & Brown reports quarterly financials
President and chief executive cites “another outstanding quarter”
Insurance News
By
Terry Gangcuangco
Insurance brokerage Brown & Brown, Inc. has announced its financial results for the third quarter of 2023 – a period described by president and chief executive J. Powell Brown as outstanding.
Here’s how Brown & Brown performed in the three months and nine months ended September 30:
Metric
Q3 2023
Q3 2022
9M 2023
9M 2022
Total revenues
$1.1 billion
$927.6 million
$3.2 billion
$2.7 billion
Income before income taxes
$242.3 million
$218 million
$791 million
$681.8 million
Net income
$175.9 million
$161.1 million
$601.8 million
$526.6 million
Commenting on the numbers, the CEO said: “We had another outstanding quarter and are winning a substantial amount of net new business that drove organic revenue growth of 9.6% for the quarter and over 11% year to date.”
Earlier this month, the company announced that its board of directors declared a regular quarterly cash dividend of $0.13 per share, payable on November 15.
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