Brokerage Brown & Brown ups Q1 net take on 11% revenue increase
US insurance brokerage Brown & Brown padded its first quarter net take by $20.6 million or 10% versus the prior year period for $220.3 million on the bottom line, then offered to put about 12% of the sum to shareholders via dividend.
Q1 GAAP revenues of $904.7 million rose by $89.4 million or 11% to largely match growth in the key line of commissions and fees. Organic revenues were said to have grown by 7.8%.
The group's core operating margin measure of adjusted EBITDAC rose 11.1% to $323.3 million with margin flat from the prior period at 35.7%.
J. Powell Brown (pictured), president and chief executive officer of the company, noted, “We are very pleased with the strong results achieved for the first quarter of 2022. Our teammates continue to perform at a high level, delivering innovative solutions to our customers.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
