Brown & Brown has announced that chief operating officer Steve Hearn will take charge of all operations outside North America, spanning both its retail and specialty distribution businesses. The appointment takes immediate effect.
In his expanded role, Hearn will oversee the group’s international activities and play a key part in driving its global growth strategy.
The leadership change follows a landmark acquisition earlier this month, with Brown & Brown completing its $9.83 billion purchase of RSC Topco, Inc, the parent company of Accession Risk Management Group, Inc. The deal, among the largest in the company’s history, adds more than 5,000 employees to its workforce, bringing the total headcount to over 23,000. Brown & Brown said the acquisition significantly strengthens its delegated underwriting and programme business capabilities, further expanding its specialty insurance portfolio.
The company has also been active in the UK market. In April, its European arm acquired BCM Acquisitions Limited, parent of Sunderland-based broker 1st UK Broking. Specialising in commercial motor insurance, the firm will continue to operate under its existing leadership team. The acquisition, which received regulatory approval, supports Brown & Brown’s strategy to build scale across key UK regions.
Financially, the company reported solid second-quarter 2025 results. GAAP revenue rose 9.1% year-on-year to $1.3 billion, driven by an 8.2% increase in commissions and fees. Organic revenue grew 3.6%, while adjusted EBITDAC climbed 12.1%, delivering a margin of 36.7%.
