Brown & Brown Reports 9.1% Revenue Growth to $1.285 Billion in Q2 2025

Brown & Brown, Inc. reported a notable increase in financial performance for the second quarter of 2025, with total revenues reaching $1.285 billion, a 9.1% increase from $1.178 billion in the same period last year. The company's commissions and fees rose to $1.249 billion, up from $1.154 billion, driven by a 7.7% increase in core commissions and fees, which amounted to $1.204 billion. Net income attributable to the company for the quarter was $231 million, a decrease from $257 million in the prior year, resulting in a diluted earnings per share of $0.78 compared to $0.90 in the same quarter of 2024.

In comparison to the previous fiscal period, Brown & Brown's total revenues for the first half of 2025 also saw a significant increase, climbing to $2.689 billion from $2.435 billion in the first half of 2024, marking a 10.4% growth. The company attributed this growth to strong organic revenue, which increased by 3.6% in the second quarter and 5.1% in the first half of the year, alongside contributions from recent acquisitions. The company completed 29 acquisitions during the first half of 2025, which included nine insurance intermediaries and 13 asset purchases, further enhancing its market presence.

Operationally, Brown & Brown reported an increase in employee compensation and benefits, which rose to $640 million for the second quarter, reflecting a 9.4% increase from the previous year. Other operating expenses also increased by 22% to $211 million, driven by costs associated with acquisitions and integration efforts. The company’s total assets as of June 30, 2025, stood at $25.636 billion, a significant rise from $17.612 billion at the end of 2024, largely due to cash raised from a follow-on common stock offering and senior notes issuance.

The company’s strategic developments include a planned acquisition of RSC Topco, Inc., with an expected closing in the third quarter of 2025. The total purchase price for this transaction is approximately $9.825 billion, which will be funded through a combination of cash and stock. This acquisition is anticipated to enhance Brown & Brown's capabilities in specialty insurance and risk management. The company also reported a strong cash position, with cash and cash equivalents totaling $8.893 billion as of June 30, 2025, reflecting a substantial increase from $675 million at the end of 2024.

Looking ahead, Brown & Brown expressed optimism about its growth trajectory, supported by its recent acquisitions and strong operational performance. The company expects to continue leveraging its decentralized sales culture to adapt to market conditions and drive further revenue growth. However, it also acknowledged potential risks, including market fluctuations and integration challenges associated with its ongoing acquisition strategy.