8-KEarnings & ResultsRegulation FDExhibits & Filings

BROWN & BROWN, INC. 8-K Report, Financial Results (Aug 22, 2025)

Filed August 22, 2025For Securities:BRO

Summary

Brown & Brown, Inc. (BRO) has filed an 8-K to announce a significant reorganization of its business segments, effective for reporting beginning in the third quarter of 2025. This change follows the recent acquisition of RSC Topco, Inc., which operates Accession Risk Management Group, Inc. The company will now report under two primary segments: Retail and Specialty Distribution, consolidating its former Programs and Wholesale Brokerage segments into the new Specialty Distribution segment. This streamlining is expected to provide a clearer operational structure and enhanced comparability for investors moving forward. The filing also includes supplemental information in Exhibit 99.1, which presents recast historical segment data from March 31, 2024, through the first quarter of 2025, as well as full-year data from 2020 to 2024, reflecting the new structure. It's important to note that this reorganization does not alter previously reported consolidated financial statements, as the company did not operate under this new structure in prior periods. Investors should utilize this recast information in conjunction with BRO's existing SEC filings for a comprehensive view of the company's performance and strategic evolution.

Key Highlights

  • 1Brown & Brown, Inc. (BRO) is reorganizing its business segments effective July 1, 2025.
  • 2The company will consolidate its 'Programs' and 'Wholesale Brokerage' segments into a new 'Specialty Distribution' segment.
  • 3Going forward, BRO will report financial results under two main segments: 'Retail' and 'Specialty Distribution'.
  • 4This segment reorganization is a direct result of the acquisition of RSC Topco, Inc. (Accession Risk Management Group, Inc.).
  • 5Supplemental historical segment data, recast under the new structure, is provided in Exhibit 99.1 for periods from Q1 2024 back to 2020.
  • 6The segment reorganization does not impact previously reported consolidated financial statements.
  • 7This filing is furnished under Items 2.02 and 7.01 and is not deemed 'filed' for purposes of Section 18 of the Exchange Act.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Brown & Brown, Inc.'s (BRO) reorganization of its business segments and to provide recast historical segment data reflecting these changes. This aligns with the company's operational adjustments following the acquisition of RSC Topco, Inc.

Effective July 1, 2025, Brown & Brown will report its financial results under two primary business segments: 'Retail' and 'Specialty Distribution'. The new 'Specialty Distribution' segment will consolidate the previous 'Programs' and 'Wholesale Brokerage' segments.

No, the segment reorganization does not affect previously reported consolidated statements of income, balance sheets, cash flows, comprehensive income, or shareholders' equity. The company did not operate under the new segment structure in prior periods; the provided historical data has been recast for comparability.

Exhibit 99.1, furnished with this Current Report on Form 8-K, contains unaudited historical business segment information recast to reflect the new 'Retail' and 'Specialty Distribution' structure. This recast data covers periods from the first quarter of 2024 back to the first quarter of 2024, as well as full years from 2020 to 2024.