Brown & Brown

Inside P&C’s research team examines some of the areas that will be closely watched during the results season.

The Irish broker was founded in 1961 and has around 200 employees writing both commercial and personal insurance.

CoverHound has raised a total of $111mn since it was founded in 2010 from the likes of RRE, Route 66, Chubb and Hiscox.

The broker beat analysts’ consensus of $0.43 per share, as compiled by SNL.

Other recent acquisitions include the company's takeover of New England wholesaler Amity Insurance Agency in August.

The former target’s managing partner last week pleaded guilty to fraud charges related to his daughter’s college entrance exams.

The transaction is Brown & Brown’s third this month and tenth deal in 2020.

Insurance CEOs say a narrative of economic disruption helped to achieve double-digit rate rises in lines such as commercial property and D&O.

Private equity interest has also returned “full steam”, the executive said.

Yesterday, the broker reported Q2 results that included positive data points and provided further evidence that more acute revenue pressures appear not to have materialized.

The broker highlighted “material” exposure declines and lower new business volume, but higher P&C rates across the board.

Brown & Brown’s Q1 conference call suggested that Covid-19 is more than just a recession for brokers.