Brown & Brown (BRO) revenue breakdown

Financial Services · Insurance Brokers · Market cap $22.1B

By segment, Retail is the largest at 59% of fiscal 2025 revenue; Specialty Distribution grew fastest, 19% a year over 2 years.

By region, U.S. is the largest at 86% of fiscal 2025 revenue; U.K. grew fastest, 52% a year over 3 years.

Revenue by segment

Fiscal years, as Brown & Brown reports them in its 10-K filings; fiscal 2025 total $5.8B.

Segments2016201720182019202020212022202320242025Share
Retail$917M$943M$1.0B$1.4B$1.5B$1.8B$2.2B$2.5B$2.7B$3.4B 59%
Specialty Distribution———————$1.7B$2.0B$2.4B 41%
Programs$449M$480M$494M$518M$611M$702M$958M——— —
Wholesale Brokerage$243M$272M$287M$310M$353M$403M$453M——— —
Services$156M$165M$189M$194M$174M$179M———— —

Revenue by region

Fiscal years, as Brown & Brown reports them in its 10-K filings; fiscal 2025 total $5.9B.

Regions202020212022202320242025Share
U.S.$2.6B$3.0B$3.3B$3.7B$4.1B$5.1B 86%
U.K.——$170M$433M$545M$599M 10%
Other——$9M$94M$120M$244M 4%
Bermuda, Canada, Cayman Islands, Ireland and the United Kingdom—$78M———— —
Republic of Ireland——$38M——— —
Canada——$23M——— —
Canada$16M————— —
U.K.$13M————— —
Other$6M————— —
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Questions

Where does Brown & Brown make its money?

In fiscal 2025, by segment: Retail $3.4B, Specialty Distribution $2.4B.

From Brown & Brown's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.