Brown & Brown Management

Management criteria checks 2/4

Brown & Brown's CEO is J. Brown, appointed in Jan 2007, has a tenure of 17.25 years. total yearly compensation is $9.79M, comprised of 10.2% salary and 89.8% bonuses, including company stock and options. directly owns 1.92% of the company’s shares, worth €415.68M. The average tenure of the management team and the board of directors is 4.3 years and 15 years respectively.

Key information

J. Brown

Chief executive officer

US$9.8m

Total compensation

CEO salary percentage	10.2%
CEO tenure	17.3yrs
CEO ownership	1.9%
Management average tenure	4.3yrs
Board average tenure	15yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has J. Brown's remuneration changed compared to Brown & Brown's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$914m
Dec 31 2023	US$10m	US$1m	US$857m
Sep 30 2023	n/a	n/a	US$736m
Jun 30 2023	n/a	n/a	US$720m
Mar 31 2023	n/a	n/a	US$675m
Dec 31 2022	US$7m	US$1m	US$659m
Sep 30 2022	n/a	n/a	US$616m
Jun 30 2022	n/a	n/a	US$602m
Mar 31 2022	n/a	n/a	US$595m
Dec 31 2021	US$9m	US$1m	US$574m
Sep 30 2021	n/a	n/a	US$572m
Jun 30 2021	n/a	n/a	US$562m
Mar 31 2021	n/a	n/a	US$523m
Dec 31 2020	US$7m	US$1m	US$465m
Sep 30 2020	n/a	n/a	US$460m
Jun 30 2020	n/a	n/a	US$441m
Mar 31 2020	n/a	n/a	US$437m
Dec 31 2019	US$5m	US$1m	US$399m
Sep 30 2019	n/a	n/a	US$395m
Jun 30 2019	n/a	n/a	US$386m
Mar 31 2019	n/a	n/a	US$367m
Dec 31 2018	US$4m	US$1m	US$344m
Sep 30 2018	n/a	n/a	US$458m
Jun 30 2018	n/a	n/a	US$428m
Mar 31 2018	n/a	n/a	US$420m
Dec 31 2017	US$5m	US$1m	US$400m

Compensation vs Market: J.'s total compensation ($USD9.79M) is above average for companies of similar size in the German market ($USD5.66M).

Compensation vs Earnings: J.'s compensation has increased by more than 20% in the past year.

CEO

J. Brown (55 yo)

17.3yrs

Tenure

US$9,786,745

Compensation

Mr. J. Powell Brown, CPCU, is a Member of Board of Trustees at American Institute for Chartered Property Casualty Underwriters since June 15, 2022. He has been the Chief Executive Officer of Brown & Brown...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
J. Brown	CEO, President & Director	17.3yrs	US$9.79m	1.92% $ 415.7m
R. Watts	Executive VP	10.2yrs	US$3.27m	0.067% $ 14.4m
J. Penny	Executive VP & Chief Acquisitions Officer	13.3yrs	US$2.93m	0.24% $ 53.0m
Chris Walker	Executive VP & President of Programs Segment	10.3yrs	US$3.45m	0.072% $ 15.6m
P. Brown	Executive VP & President of Retail Segment	4.3yrs	US$3.44m	0.50% $ 108.3m
Kiet Tran	Chief Technology Officer	1.9yrs	no data	no data
Kenneth Nester	Executive VP & Chief Information Officer	3.2yrs	no data	0.015% $ 3.2m
C. Mathis	Senior VP & Chief Legal Officer	less than a year	no data	no data
Jenny Goco	Director of Communications	no data	no data	no data
Julie Turpin	Executive VP & Chief People Officer	4.1yrs	no data	0.025% $ 5.4m
Richard Knudson	Senior Vice President of Retail Segment	no data	no data	no data
H. Stoll	Senior VP & Director of Acquisitions	no data	no data	no data

4.3yrs

Average Tenure

54yo

Average Age

Experienced Management: BTW's management team is considered experienced (4.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
J. Brown	CEO, President & Director	16.5yrs	US$9.79m	1.92% $ 415.7m
Jaymin Patel	Independent Director	1.3yrs	US$217.47k	0.00065% $ 140.9k
J. Brown	Chairman of the Board	31.3yrs	US$218.74k	13.54% $ 2.9b
Theodore Hoepner	Independent Director	30.3yrs	US$217.47k	0.041% $ 8.9m
H. Proctor	Lead Independent Director	11.5yrs	US$247.47k	0.015% $ 3.3m
Lawrence Gellerstedt	Independent Director	5.3yrs	US$189.95k	0.0064% $ 1.4m
Toni Jennings	Independent Director	17.3yrs	US$189.95k	0.018% $ 4.0m
Paul Krump	Independent Director	less than a year	US$50.00k	no data
Chilton Varner	Independent Director	20.3yrs	US$189.95k	0.020% $ 4.3m
Wendell Reilly	Independent Director	16.5yrs	US$209.95k	0.082% $ 17.7m
Timothy R. Main	Independent Director	13.5yrs	US$237.47k	0.011% $ 2.3m
James Hunt	Independent Director	10.9yrs	US$209.95k	0.0077% $ 1.7m

15.0yrs

Average Tenure

66.5yo

Average Age

Experienced Board: BTW's board of directors are seasoned and experienced ( 15 years average tenure).

Brown & Brown Management

Management criteria checks 2/4

Key information

Recent management updates

Brown & Brown, Inc., Annual General Meeting, May 08, 2024

Chairman of the Board recently sold €18m worth of stock

Brown & Brown, Inc. Appoints Kathleen A. Savio as Director of the Company

Brown & Brown Promotes Mike Bruce to Chief Executive Officer of Brown & Brown Europe

Brown & Brown, Inc. Announces Board Changes

Brown & Brown, Inc. Announces Executives Appointments

Recent updates

First quarter dividend of US$0.13 announced

First quarter 2024 earnings released: EPS: US$1.04 (vs US$0.83 in 1Q 2023)

Brown & Brown, Inc. to Report Q1, 2024 Results on Apr 22, 2024

Brown & Brown, Inc., Annual General Meeting, May 08, 2024

Chairman of the Board recently sold €18m worth of stock

Full year 2023 earnings released: EPS: US$3.07 (vs US$2.38 in FY 2022)

Upcoming dividend of US$0.13 per share at 0.7% yield

Full year 2023 earnings released: EPS: US$3.11 (vs US$2.38 in FY 2022)

Brown & Brown, Inc. Appoints Kathleen A. Savio as Director of the Company

Davies Group Limited entered into an agreement to acquire American Claims Management, Inc., Preferred Governmental Claim Solutions, Inc., USIS, Inc. and ICA, LP from Brown & Brown, Inc. (NYSE:BRO) for approximately $210 million.

Third quarter 2023 earnings released: EPS: US$0.63 (vs US$0.57 in 3Q 2022)

Upcoming dividend of US$0.13 per share at 0.7% yield

Brown & Brown, Inc. Announces Increase in Quarterly Cash Dividend, Payable on November 15, 2023

Brown & Brown, Inc. (NYSE:BRO) acquired All of the assets of Pacific Underwriters Corporations.

Brown & Brown, Inc. (NYSE:BRO) acquired Kentro Capital Limited from B. P. Marsh & Company Limited.

Brown & Brown, Inc. to Report Q3, 2023 Results on Oct 23, 2023

Brown & Brown Promotes Mike Bruce to Chief Executive Officer of Brown & Brown Europe

Upcoming dividend of US$0.12 per share at 0.7% yield

Second quarter 2023 earnings released: EPS: US$0.68 (vs US$0.51 in 2Q 2022)

Brown & Brown, Inc. Announces Quarterly Cash Dividend, Payable on August 16, 2023

Brown & Brown, Inc. to Report Q2, 2023 Results on Jul 24, 2023

Brown & Brown, Inc. Announces Board Changes

Brown & Brown, Inc. Announces Executives Appointments

Brown & Brown, Inc. Appoints Pattysue Rauh as Chief Audit Officer, Effective July 2023

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire Kentro Capital Limited from B. P. Marsh & Company Limited.

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire Kentro Capital Limited

Brown & Brown, Inc. (NYSE:BRO) acquired substantially all of the assets from Brownlee Agency, Inc.

Upcoming dividend of US$0.12 per share at 0.7% yield

First quarter 2023 earnings released: EPS: US$0.84 (vs US$0.78 in 1Q 2022)

Vice Chairman recently bought €254k worth of stock

Full year 2022 earnings released: EPS: US$2.38 (vs US$2.08 in FY 2021)

Independent Director recently bought €184k worth of stock

Upcoming dividend of US$0.12 per share at 0.8% yield

Full year 2022 earnings released: EPS: US$2.42 (vs US$2.08 in FY 2021)

Brown & Brown, Inc. Announces Board Changes

Brown & Brown, Inc. Declares Regular Quarterly Cash Dividend, Payable on February 15, 2023

Brown & Brown, Inc. to Report Fiscal Year 2022 Results on Jan 23, 2023

Insufficient new directors

Upcoming dividend of US$0.12 per share

Brown & Brown, Inc. Declares Regular Quarterly Cash Dividend, Payable on November 16, 2022

Brown & Brown, Inc. to Report Q3, 2022 Results on Oct 24, 2022

Brown & Brown, Inc. (NYSE:BRO) acquired BDB Limited.

Upcoming dividend of US$0.10 per share

Second quarter 2022 earnings released: EPS: US$0.52 (vs US$0.49 in 2Q 2021)

Brown & Brown, Inc. Declares Quarterly Cash Dividend, Payable on August 17, 2022

Brown & Brown, Inc. (NYSE:BRO) completed the acquisition of Global Risk Partners Limited.

Brown & Brown, Inc. (NYSE:BRO) acquired General Insurance Operations of Patrick Quinlan Insurance Limited.

Brown & Brown, Inc. to Report Q2, 2022 Results on Jul 25, 2022

Independent Director recently bought €93k worth of stock

Brown & Brown, Inc. Announces the Appointment of Kiet Tran as Chief Technology Officer

Independent Director recently bought €95k worth of stock

Upcoming dividend of US$0.10 per share

First quarter 2022 earnings released: EPS: US$0.78 (vs US$0.71 in 1Q 2021)

Insufficient new directors

Brown & Brown, Inc. Declares Quarterly Cash Dividend, Payable on May 18, 2022

Brown & Brown, Inc. to Report Q1, 2022 Results on Apr 25, 2022

Brown & Brown, Inc. (NYSE:BRO) entered into an agreement to acquire BDB Limited.

Lead Independent Director recently bought €110k worth of stock

Upcoming dividend of US$0.10 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

Brown & Brown, Inc. (NYSE:BRO) acquired Substantially all of the assets of Corporate Insurance Advisors, L.L.C.

Insufficient new directors

Upcoming dividend of US$0.10 per share

Third quarter 2021 earnings released: EPS US$0.53 (vs US$0.47 in 3Q 2020)

Brown & Brown, Inc. (NYSE:BRO) acquired Substantially all of the assets from AGIS Network, Inc.

Insider recently sold €348k worth of stock

Upcoming dividend of US$0.092 per share

Lead Independent Director recently bought €92k worth of stock