Brown & Brown Inc.
Brown & Brown Appoints New Chief Operating Officer
Summary
Brown & Brown, Inc. announced on February 23, 2025, the appointment of Stephen P. Hearn as its new Executive Vice President and Chief Operating Officer, effective March 3, 2025. Hearn, who previously held senior executive positions with The Ardonagh Group, will receive an annual salary of £588,800, a target cash incentive of £1,213,000 for 2025, long-term equity incentives, and participation in various benefit schemes. The Compensation Committee also adopted an annual cash incentive for 2025 for certain executive officers, with performance metrics based on organic revenue growth, EBITDAC margin, and personal objectives.
Profitelligence Alerts
Get alerts for BRO
Be first to know when Brown & Brown Inc. files with the SEC.
Filing Categories
Advertisement
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
Advertisement