Brown & Brown, Inc. is Born
Adrian Brown, an agent for Metropolitan Life Insurance Company, partnered with his cousin, Charles "Cov" Owen to open an insurance agency in Daytona Beach, Florida. The agency was named Brown & Owen.
Joining the Family Business
Adrian Brown's son, Hyatt, completed his double major in real estate and insurance at the University of Florida. He returned to help run the family business in 1959, immediately demonstrating his understanding of the interaction between relationships and sales. Using his college connections, Hyatt helped Brown & Brown land the contract for the University of Florida’s student accident insurance.
Agency Under New Ownership
Hyatt Brown buys the agency for $75,000 and his vision for the company begins to take shape. To grow the agency, Hyatt knew that he had to sell one account at a time, service it well, then build on that good reputation.
A History of Public Service
Hyatt Brown entered politics in 1972 as a part of the Florida House. He was elected Speaker of the House of Representatives in 1978. He used his business experience to bring reforms to the state’s pension fund, overhaul the state workers’ compensation fund, and create an early childhood education program.
Increasing Revenue and Margins
In an effort to increase revenue and margins, Brown & Brown reorganized to adopt a decentralized structure. All the while, they continued to acquire firms that fit the company culturally and focused on hiring highly talented teammates.
Brown & Brown Merges with Poe & Associates
In April 1993, the U.S. Securities and Exchange Commission approved the merger with Poe & Associates, which ultimately became Brown & Brown, Inc. The ability to use public stock for acquisitions fueled a methodical expansion strategy based on buying middle-market insurance brokers throughout the country.
Powell Brown Succeeds Hyatt Brown
Hyatt retires but remains with the company as Chairman. The path he blazed many years ago continues to be paved by his successor, his son, J. Powell Brown.
$1 Billion and Counting
Achieving $1 billion in revenues and growing, Chairman Hyatt Brown rings the opening bell.
Plans for New Headquarters Announced
Senior leaders announced plans to build an all-new headquarters in downtown Daytona Beach
Raising the Brown & Brown Flag
2019A flag-raising event was held to commemorate Brown & Brown’s new headquarters campus in Daytona Beach, Florida.
New Headquarters Campus Complete
2021The completion of our Daytona Beach, Florida headquarters campus signifies that Brown & Brown is Built to Last™ and will serve as a cultural center for our organization forever.
Brown & Brown Joins S&P 500
2021Brown & Brown achieves the honor of being included on the prestigious S&P 500 index, composed of the top 500 companies in leading industries of the U.S. economy. This distinction further demonstrates our long-standing history of proven success and company growth, both organically and through strategic acquisitions.
Brown & Brown Today
Brown & Brown has a long-standing history of commitment to our local communities.
The completion of our new Beach Street Campus marks an important milestone in helping to revitalize downtown Daytona Beach—where the Brown & Brown story began. Our new signature campus will serve as a cultural and training center for our organization.
We look forward to the day when teammates from across the organization can safely gather together to celebrate this historic moment.