Brown & Brown Inc.
Brown & Brown, Inc. Announces 2024 Annual Cash Incentive Plan for Executives
Summary
On February 19, 2024, Brown & Brown, Inc.'s Compensation Committee adopted the annual cash incentive for 2024 for certain executive officers, including named executive officers. The incentive is based on organic revenue growth, adjusted EBITDAC margin, and personal objectives, with each component affecting 40%, 40%, and 20% of the cash incentive amount respectively. The target cash incentive amounts for the named executive officers range from $1,000,000 to $3,750,000.
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About Brown & Brown Inc.
Brown & Brown Inc. is a diversified insurance brokerage and service firm, primarily focused on delivering risk management solutions and insurance products. The company's core operations involve providing a range of insurance and reinsurance products and services, including property and casualty insurance, employee benefits, and personal insurance. Brown & Brown operates across various sectors such as aviation, health care, and technology, adjusting its offerings to meet the specific needs of different industries and clients. With a wide geographical footprint in the United States and select international markets, Brown & Brown Inc. holds a significant position in the insurance brokerage sector. Its role as a middleman between insurance providers and clients allows it to leverage industry knowledge and relationships to negotiate better terms and prices for policyholders, ultimately serving as an essential component in the management of organizational and personal risk. As the insurance industry continues to evolve with regulatory changes and market dynamics, Brown & Brown remains a notable player influencing market strategies and insurance practices.
Official SEC Documents
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