Brown & Brown reorganizes segments, consolidating Programs and Wholesale Brokerage into Specialty Distribution

BROWN & BROWN, INC.

Effective Q3 2025 (July 1, 2025), the company will report under two segments: Retail and Specialty Distribution.
Specialty Distribution combines the former Programs and Wholesale Brokerage segments following the RSC Topco (Accession Risk Management) acquisition.
Historical segment financial data for 2020-2024 and recent quarters recast to align with the new structure; no impact on previously reported consolidated results.
Recast data shows FY 2024 Retail segment income before taxes of $602M and Specialty Distribution of $778M.

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