Brown & Brown, Inc. (BRO) is a leading global provider of insurance solutions, founded in 1939, with approximately 23,000 teammates as of December 31, 2025. The company operates globally in 16 countries with over 700 locations, specializing in property, casualty, employee benefits, and high-net-worth personal lines. A long-term track record of profitable revenue growth is maintained through both organic expansion and strategic acquisitions. The company boasts a highly diversified global revenue base, deep expertise, and a broad distribution network. Its operating model consistently generates industry-leading financial metrics, supported by a disciplined capital allocation strategy fueled by strong liquidity and cash flow conversion. Revenue distribution for 2025 was 59% from the Retail segment and 41% from the Specialty Distribution segment. Ownership breakdown shows 82% held by Institutional & Retail Investors and 18% by Brown & Brown Teammates (estimated as of December 31, 2025). Brown & Brown was added to the S&P 500 Index in 2021 and the S&P 500 Dividend Aristocrats in 2022, marking 32 consecutive years of dividend increases. Cash flow from operations for the year ended 2025 was $1.5 billion, representing a 24% increase over 2024. The company held $1.1 billion in cash on its balance sheet as of December 31, 2025. Access to an $800 million revolving credit facility is available, with $700 million of availability as of December 31, 2025, plus expansion features for an additional $900 million.