Brown & Brown Insurance 2016 Annual Report

Review of
Operations
Wholesale Brokerage
In pursuit of new talent and acquisitions.
14
Brown & Brown, Inc.
Brown & Brown’s Wholesale Brokerage
Segment generated approximately
14% of the Company’s total revenue in
2016, and led the Company in organic
revenue growth.
In 2016, Brown & Brown’s Wholesale Brokerage
Segment delivered overall revenue growth of
12% and organic revenue growth of 4.3%.
2016 was another good year for the Wholesale
Brokerage Segment. A key highlight was the
acquisition of the Morstan General Agency,
which positions us as one of the leading binding
authority brokers in the New York metro area.
During the year, we saw several offices stretching
into new areas and growing their revenue.
For example, an office in Atlanta, Georgia,
began operating as a binding authority broker,
which opened up new opportunities. Additionally,
our St. Petersburg, Florida, office has done
an outstanding job of assisting several offices
with expansion into personal lines, enabling
them to grow faster.
Recruiting is a key area of focus for the
Wholesale Brokerage Segment, and it’s a big
part of our growth strategy. Brown & Brown
University is designed to provide training and
development for new brokers. The programs
occur throughout the year, and we have
ongoing mentorship to help new brokers
grow together as a group.
In 2017 we will be increasing our focus on
acquiring companies that are a good fit for our
culture and growth strategy.