布朗保险 2024年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNoIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNoNote - Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Exchange Actfrom their obligations under those Sections. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”and “emerging growth company” in Rule 12b-2 of the Exchange Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo The aggregate market value of the voting common stock held by non-affiliates of the registrant, computed by reference to the price at whichthe stock was last sold on June 28, 2024 (the last business day of the registrant’s most recently completed second fiscal quarter) was$21,449,617,971. The number of shares of the Registrant’s common stock, $0.10 par value, outstanding as of February 10, 2025 was 285,931,978. DOCUMENTS INCORPORATED BY REFERENCE Portions of Brown & Brown, Inc.’s Proxy Statement for the 2025 Annual Meeting of Shareholders are incorporated by reference into Part IIIof this Report. Auditor Firm ID: 34Auditor Name: Deloitte & Touche LLPAuditor Location: Tampa, Florida, United States of America BROWN & BROWN, INC.ANNUAL REPORT ON FORM 10-KFOR THE FISCAL YEAR ENDEDDECEMBER 31,2024 INDEX Part I Item1.BusinessItem1A.Risk FactorsItem1B.Unresolved Staff CommentsItem1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety Disclosures Part II Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchasesof Equity Securities26Item6.Reserved28Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations29Item7A.Quantitative and Qualitative Disclosures About Market Risk45Item8.Financial Statements and Supplementary Data46Item9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure83Item9A.Controls and Procedures83Item9B.Other Information83Item9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections83 Part III Item10.Directors, Executive Officers and Corporate Governance84Item11.Executive Compensation84Item12.Security Ownership of Certain Beneficial Owners and Management and Related StockholderMatters85Item13.Certain Relationships and Related Transactions, and Director Independence85Item14.Principal Accounting Fees and Services85 Part IV Item15.Exhibits, Financial Statement SchedulesItem16.Form 10-K Summary 8688 Signatures89 Disclosure Regarding Forward-Looking StatementsBrown & Brown, Inc., together with its subsidiaries (collectively, “we,” “Brown & Brown” or the “Company”), makes “forward-looking statements” within the “safe harbor” provision of the Private Securities LitigationReform Act of 1995, as amended, throughout this report and in the documents we inc