Brown & Brown
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Orchid and CrossCover will report to Brown & Brown president of national programs Chris Walker. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.
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All of BdB’s subsidiaries and leadership team will join Brown & Brown’s roster following the acquisition.
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The firm reported positive earnings results, but the GDP outlook could pose tough comps.
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The broker sees slowing GDP, higher cost pressures on clients and rising loss costs that could be impediments to deals getting done as headwinds for the upcoming year.
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Consolidated Ebitdac margins expanded by 210bps, helped by 420bps of margin expansion in national programs and 120bps of improvement in retail brokerage.
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Mary Raveling becomes the second woman to join the now 14-member senior leadership team.
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With the acquisition, struck through its subsidiary Brown & Brown Lone Star Insurance, the broker will expand its operations in Texas.
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Lemonade, Root, and Metromile remain the focus of short sellers, as most firms see little short interest change.
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Following the transaction, Corporate Insurance founder Mark Schwartz and his team will join Brown & Brown’s operations in Ft Lauderdale, Florida.
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Lemonade and Root remain the focal points of short sellers, while Metromile’s stock loan fee rate increases (pending acquisition).
