Brown & Brown, Inc. has released its historical business segment information for the twelve months ended December 31, 2023, and the last few years. The data provides a detailed breakdown of revenues and expenses for its Retail, Programs, Wholesale Brokerage, and Other segments.
For the Retail segment, commissions and fees have seen a significant increase from $1,457 million in 2019 to $2,503 million in 2023. Similarly, the Programs segment has also experienced substantial growth in commissions and fees, rising from $620 million in 2019 to $1,160 million in 2023.
On the expense side, Employee compensation and benefits have increased in both segments. In the Retail segment, these expenses rose from $799 million in 2019 to $1,336 million in 2023, while in the Programs segment, they increased from $274 million in 2019 to $425 million in 2023.
The Wholesale Brokerage segment saw commissions and fees climb from $309 million in 2019 to $539 million in 2023. However, the segment reported a loss on disposal of $143 million in 2023, which is a significant change from the $10 million gain in 2019.
In the Other segment, investment income rose from $6 million in 2019 to $37 million in 2023, while total revenues for this segment increased from $5 million in 2019 to $35 million in 2023.
If you want to know more, read the company's complete 8-K report here.
