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
Brown & Brown Today
The more things change, the more they remain the same. The fundamentals of the Brown & Brown culture are still the bedrock of our operations.
We continue to evolve and grow through our company-wide commitment to uncompromised integrity, our focus on what is best for our customers, and supporting our local communities.
Staying true to our roots, Brown & Brown is building a new, legacy campus in Daytona Beach, Florida – expected to be complete by the end of 2020.