Brown & Brown announced its full-year results for 2025, with total revenue of $5.9 billion, an increase of $1.1 billion or 22.8% from 2024.
Income before income taxes increased to US$321 million, a year-on-year increase of 16.7%. Brown & Brown’s net profit increased to US$264 million, an increase of US$54 million, or 25.7%, from the previous year.
Adjusted EBITDAC reached $2.1 billion, an increase of 25.6%, and adjusted EBITDAC margin expanded to 35.9% from 35.2% in 2024.
In the fourth quarter of 2025 alone, Brown & Brown’s total revenue reached $1.6 billion, an increase of $423 million, or 35.7%, from the fourth quarter of 2024.
In the fourth quarter of 2025, the company’s attributable net profit was US$264 million, an increase of US$54 million, or 25.7%, compared with the same period last year.
Commenting on the results, President and CEO J. Powell Brown said: “2025 was another great year for the Brown & Brown team, highlighted by the acquisition of Accession, as well as strong revenue growth, double-digit adjusted net income per diluted share growth and good adjusted margin expansion.”
In August 2025, Kelso & Company, LP, a middle-market private equity firm focused on North America, sold its portfolio company Accession Risk Management Group to Brown & Brown in a primarily cash transaction valued at approximately $9.83 billion.
The deal, first announced in June 2025, is one of the largest complete private equity exits in insurance brokerage history.
Founded in 1997, Boston-based Accession is a national insurance services platform and the parent company of specialty brokerage Risk Strategies and insurance wholesaler and project management company One80 Intermediaries.
