Brown & Brown has announced that chief operating officer Steve Hearn (pictured above) will assume responsibility for all operations outside of North America, covering both the retail and specialty distribution segments. The appointment is effective immediately.
According to the company, Hearn’s new role will focus on overseeing international business activities and supporting the firm’s global strategy.
President and chief executive officer J Powell Brown said, “Steve brings extensive experience and deep relationships in the global market. Tapping him to lead operations beyond our North American footprint will enable our ability to leverage robust global capabilities, drive continued growth, further invest in the global marketplace and strengthen our position as an industry leader worldwide.”
Brown & Brown completed its acquisition of RSC Topco, Inc, the holding company for Accession Risk Management Group, Inc, earlier this month. The transaction, valued at approximately $9.83 billion, is one of the largest in the company’s history and adds more than 5,000 staff to Brown & Brown’s workforce, bringing the total to over 23,000 employees.
Brown & Brown described the deal as a major expansion driver for its capabilities in delegated underwriting and programme business, further strengthening its specialty insurance services portfolio.
In April, Brown & Brown (Europe) Limited also acquired BCM Acquisitions Limited, the parent of Sunderland-based insurance broker 1st UK Broking. The deal, which secured regulatory clearance, is part of Brown & Brown’s ongoing strategy to grow its presence in key UK regions. 1st UK Broking, which specialises in commercial motor insurance, will continue to operate under its existing management.
The company also reported its second-quarter 2025 results, with GAAP revenue increasing 9.1% year-over-year to $1.3 billion. Commissions and fees rose by 8.2%, organic revenue increased by 3.6%, and adjusted EBITDAC was up 12.1% with a margin of 36.7%.
What are your thoughts on this story? Please feel free to share your comments below.
