Brown & Brown Management

Management criteria checks 2/4

Brown & Brown's CEO is J. Brown, appointed in Jan 2007, has a tenure of 17.83 years. total yearly compensation is $9.79M, comprised of 10.2% salary and 89.8% bonuses, including company stock and options. directly owns 1.91% of the company’s shares, worth MX$12.77B. The average tenure of the management team and the board of directors is 4.8 years and 15.6 years respectively.

Key information

J. Brown

Chief executive officer

US$9.8m

Total compensation

CEO salary percentage	10.2%
CEO tenure	17.8yrs
CEO ownership	1.9%
Management average tenure	4.8yrs
Board average tenure	15.6yrs

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
Sep 30 2024	n/a	n/a	US$1b
Jun 30 2024	n/a	n/a	US$982m
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 ($USD9.79M) is above average for companies of similar size in the MX market ($USD5.72M).

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

CEO

J. Brown (56 yo)

17.8yrs

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	17.8yrs	US$9.79m	1.91% MX$ 12.8b
R. Watts	Executive VP	10.8yrs	US$3.27m	0.066% MX$ 437.9m
J. Penny	Executive VP & Chief Acquisitions Officer	13.8yrs	US$2.93m	0.24% MX$ 1.6b
Chris Walker	Executive VP & President of Programs Segment	10.8yrs	US$3.45m	0.072% MX$ 480.5m
P. Brown	Executive VP & President of Retail Segment	4.8yrs	US$3.44m	0.50% MX$ 3.3b
Kiet Tran	Chief Technology Officer	2.5yrs	no data	no data
Kenneth Nester	Executive VP & Chief Information Officer	3.8yrs	no data	0.015% MX$ 99.8m
C. Mathis	Senior VP & Chief Legal Officer	1.6yrs	no data	no data
Jenny Goco	Director of Communications	no data	no data	no data
Julie Turpin	Executive VP & Chief People Officer	4.7yrs	no data	0.024% MX$ 157.8m
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

4.8yrs

Average Tenure

55yo

Average Age

Experienced Management: BRO *'s management team is considered experienced (4.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
J. Brown	CEO, President & Director	17.1yrs	US$9.79m	1.91% MX$ 12.8b
Jaymin Patel	Independent Director	1.8yrs	US$217.47k	0.0011% MX$ 7.6m
J. Brown	Chairman of the Board	31.8yrs	US$218.03k	13.45% MX$ 89.8b
Theodore Hoepner	Independent Director	30.8yrs	US$217.47k	0.041% MX$ 276.5m
H. Proctor	Lead Independent Director	12.1yrs	US$247.47k	0.016% MX$ 103.5m
Lawrence Gellerstedt	Independent Director	5.9yrs	US$237.47k	0.0068% MX$ 45.6m
Toni Jennings	Independent Director	17.8yrs	US$217.47k	0.019% MX$ 126.4m
Paul Krump	Independent Director	1.4yrs	US$50.00k	0.00049% MX$ 3.3m
Chilton Varner	Independent Director	20.8yrs	US$217.47k	0.020% MX$ 135.1m
Wendell Reilly	Independent Director	17.1yrs	US$217.47k	0.082% MX$ 547.0m
Timothy R. Main	Independent Director	14.1yrs	US$237.47k	0.011% MX$ 75.4m
James Hunt	Independent Director	11.5yrs	US$237.47k	0.0082% MX$ 54.7m

15.6yrs

Average Tenure

67.5yo

Average Age

Experienced Board: BRO *'s board of directors are seasoned and experienced ( 15.6 years average tenure).

Brown & Brown Management

Management criteria checks 2/4

Key information

Recent management updates

Chairman of the Board recently sold Mex$280m worth of stock

Brown & Brown, Inc. Appoints Stephen P. Hearn to Board of Directors

Executive VP recently sold Mex$4.8m worth of stock

Executive VP & Chief People Officer recently sold Mex$5.5m worth of stock

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

Chairman of the Board recently sold Mex$338m worth of stock

Recent updates

Brown & Brown, Inc. (NYSE:BRO) completed the acquisition of Quintes Holding B.V. from Aquiline Capital Partners LLC, Gijsbert van de Nieuwegiessen and the shareholders of Quintes Holding BV.

Third quarter 2024 earnings released: EPS: US$0.82 (vs US$0.62 in 3Q 2023)

Second quarter dividend of US$0.15 announced

Brown & Brown, Inc. Declares Quarterly Cash Dividend, Payable on November 13, 2024

Brown & Brown, Inc. (NYSE:BRO) acquired The assets of The Canopy Group.

Brown & Brown, Inc. to Report Q3, 2024 Results on Oct 28, 2024

Chairman of the Board recently sold Mex$280m worth of stock

Brown & Brown, Inc. Appoints Stephen P. Hearn to Board of Directors

Executive VP recently sold Mex$4.8m worth of stock

Brown & Brown, Inc. (NYSE:BRO)entered into an agreement to acquire Quintes Holding B.V. from Aquiline Capital Partners LLC, Gijsbert van de Nieuwegiessen and the shareholders of Quintes Holding BV.

Brown & Brown, Inc. (NYSE:BRO)entered into an agreement to acquire Quintes Holding B.V. from Aquiline Capital Partners LLC, Gijsbert van de Nieuwegiessen and the shareholders of Quintes Holding BV.

Second quarter 2024 earnings released: EPS: US$0.90 (vs US$0.67 in 2Q 2023)

First quarter dividend of US$0.13 announced

Brown & Brown, Inc. Declares Regular Quarterly Cash Dividend, Payable on August 14, 2024

Brown & Brown, Inc. to Report Q2, 2024 Results on Jul 22, 2024

Executive VP & Chief People Officer recently sold Mex$5.5m worth of stock

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 Mex$338m 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

Insider recently sold Mex$3.1m worth of stock

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.

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

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$0.67 (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

Insufficient new directors

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.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age