Brown & Brown, Inc. reported significant financial growth in its first quarter of 2026, with total revenues reaching $1.901 billion, a 35.4% increase from $1.404 billion in the same period of 2025. The company's commissions and fees surged to $1.880 billion, up 35.7% year-over-year, driven by a combination of acquisitions and improved underwriting results. Net income attributable to the company also rose to $426 million, reflecting a 28.7% increase from $331 million in the prior year. Basic net income per share increased to $1.27, compared to $1.16 in the first quarter of 2025.
The company experienced notable changes in its operational metrics, particularly in its Retail and Specialty Distribution segments. The Retail segment's revenues increased by 33.4% to $1.210 billion, while the Specialty Distribution segment saw a 40.0% rise to $682 million. The growth in the Retail segment was primarily attributed to $270 million in core commissions and fees from acquisitions, while the Specialty Distribution segment benefited from favorable loss ratios and increased premiums, contributing to a $38 million rise in contingent commissions.
Strategically, Brown & Brown completed eight acquisitions during the first quarter, including the purchase of five insurance intermediaries and two books of business. This acquisition activity is part of the company's ongoing strategy to expand its market presence and enhance its service offerings. The company also reported a significant increase in employee compensation and benefits, which rose by 32.8% to $907 million, largely due to costs associated with these acquisitions.
Operationally, the company reported a total employee headcount increase, reflecting its growth strategy. The total cash and cash equivalents at the end of the quarter stood at $1.003 billion, a decrease from $1.079 billion at the end of 2025, primarily due to payments related to annual bonuses and contingent considerations. The company’s total debt increased to $7.822 billion, influenced by the drawdown of $225 million on its revolving credit facility to fund share repurchases.
Looking ahead, Brown & Brown remains optimistic about its growth trajectory, emphasizing its focus on organic revenue growth and strategic acquisitions. The company anticipates continued improvements in underwriting results and operational efficiencies, which are expected to drive further revenue growth in the upcoming quarters. The management's outlook reflects confidence in navigating market conditions and leveraging its diversified business model to enhance shareholder value.
About BROWN & BROWN, INC.
Brown & Brown, Inc. is a diversified insurance agency and brokerage firm offering property, casualty, and employee benefits insurance products and services. Operating primarily as an agent or broker, it serves commercial, public, professional, and individual clients through Retail, Programs, and Wholesale Brokerage segments. The company provides customized risk management solutions across the U.S. and internationally, generating revenue mainly from commissions and fees while leveraging specialized underwriting and captive insurance facilities.
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