Brown & Brown is a decentralized insurance brokerage firm founded in 1939 that has grown organically and through acquisitions. It has a highly competitive culture focused on entrepreneurship and local leadership. The company provides property/casualty insurance, employee benefits, wholesale brokerage, and other services through over 175 offices nationwide.
3. Company History Brown & Owen 1939 1980-1982 1993 2004 1955 1999 2002 2001 2009 2005 Acquired Riedman Insurance agency with $54 Million in revenue Changed name back to Brown & Brown 2009 revenues of $967.9 million Acquired Hull & Co with $63 million in revenue Brown & Owen founded in Daytona Beach, FL 1st Defining Moment: Focus on service and growing financial capital 1980 - $2mm-1982 - $4mm 2nd Defining Moment: Becoming a public company. Merger with Poe & Assoc. to form Poe & Brown; revenue $86.1 million Raised $150 million of equity for acquisitions Raised $200 million in debt for acquisitions 2010 2010 revenues of $973.5 million $45,821 - Revenue
4. -5- 2010 Revenue - $973.5 Million Product and Service Offerings Middle Market Retail Revenue: $579.2M Services Revenue: $46.4M National Programs Revenue: $189.2M Wholesale Brokerage Revenue: $158.7M
5. Nationwide Footprint 37 States, 176 Offices 20.8 294.9 36.0 66.7 4.4 17.0 7.7 15.1 35.8 15.2 21.2 5.3 3.3 2.1 77.8 27.5 2.7 47.1 60.5 20.6 6.3 70.0 13.2 4.6 17.7 8.6 8.7 17.7 4.2 1.3 1.0 2.3 0.4 3.2 6.1 11.9 U.K. 9.9 2010 revenues = $973.5 million (Revenue by state in $ million) 4.7 FLORIDA $294.9 TOTAL $4.2 Other $14.3 Prof. Programs $29.5 Spec. Programs $32.7 Services $61.7 Wholesale $152.5 Retail CALIFORNIA $66.7 TOTAL $6.7 Wholesale $26.4 Prof. Programs $33.6 Retail
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7. TALENT “SPAWNING” POOLS Financial OPS Review FTL Tampa Phoenix Seattle Ft. Myers Tampa Indy Winter Haven Peachtree MacDuff Novato Orlando USIS LaCrosse Norfolk Nat. Prgms. Toledo Leesburg Clearwater St. Pete Bethlehem Florham Park Syracuse Washington Clark Toledo Clearwater St. Pete Prescott Albuquerque Las Vegas Novato Tucson Tampa Orlando West Palm Beach Jacksonville Orange Leesburg Tallahassee Hartford Little Rock Little Rock Greenville Pt. Charlotte Boca Raton Buckhead New Orleans Charlotte Lake Mary MacDuff-Daytona Peachtree Atlanta Daytona Beach
8. What Defines Brown & Brown ► Performance driven organization with an entrepreneurial culture ► Disciplined executive leadership focused on “good” growth ► Talented local leaders and staff that thrive on freedom and opportunity ► A strong balance sheet used to invest in resources, reward stakeholders and ensure the future- We are Built to Last ► Decentralized decisions encouraging individual creativity and innovation that drops client costs and increases customer satisfaction ► Like encountering a skunk, an “ivory tower” organizational mentality is to be avoided at all costs. Local leaders know best what they need in order to compete and grow ► We are a Meritocracy
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12. ECENTRALIZATION D 176 OFFICES AND 5,250 CLIENT SERVICE PROFESSIONALS NATIONWIDE AS OF 12/31/2010 LOCAL INSURANCE MARKET SELECTION + NATIONAL SCOPE HIGH-QUALITY LEADERS AND VALUED TEAM MEMBERS IN EACH OFFICE LOW CORPORATE OVERHEAD PROVIDING LOCAL LEADERS INCREASED FLEXIBILITY RESOURCES AND CAPABILITIES FOCUSED EFFECTIVELY ON REDUCING THE COST OF RISK FOR YOU WE DO NOT OPERATE ON A “ONE SIZE FITS ALL” MINDSET OUR FOUR PILLARS OF LASTING SUCCESS: MARKETING- SERVICING- ACCOUNTING- LEADERSHIP
13. DOGGED DISCIPLINE NOTHING IS FOREVER THREE YARDS AND A CLOUD OF DUST, AD INFINITUM The Power Of Our Culture THE ONLY CONSTANT IS CHANGE THE POWER OF WE There is no I in We
![Culture Statement ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)