Brown & Brown has announced the appointment of Stephen P. Hearn as its new executive vice president and chief operating officer. Hearn, who joined the company’s board of directors in August 2024, has stepped down from his board position to become a member of the company’s operating committee.
In his new role, Hearn will focus on scaling operations, driving innovation, and overseeing talent development. With a career spanning more than three decades in the insurance industry, he brings extensive leadership experience to Brown & Brown.
A Distinguished Career in Insurance
Hearn began his insurance career in 1989 and has held several executive leadership positions throughout his tenure. Most recently, he was with The Ardonagh Group, where he served as chief executive officer of Ardonagh Specialty Holdings Limited from November 2021 to September 2022. Following that, he took on the role of CEO at Ardonagh Capital Solutions Holdings, overseeing reinsurance broking, captives, and MGA businesses from February 2023 to July 2024.
Additionally, Hearn led Inver Re, Ardonagh’s reinsurance broking unit, from November 2021 to July 2024 and served as a director of Ardonagh International from May 2023 to July 2024.
Before his tenure at The Ardonagh Group, Hearn was the chief executive officer of Corant Global, a subsidiary of BGC Partners, Inc., from February 2019 until BGC’s insurance brokerage division was sold to Ardonagh in November 2021. Prior to that, he served as CEO of Ed Broking Group Limited from 2015 until its acquisition by BGC in February 2019.
Between 2008 and 2015, Hearn held key leadership positions at Willis Group Holdings plc, including president and deputy chief executive officer, CEO of Willis Re, chairman and CEO of Willis Global, and CEO of Willis Limited. His career also includes senior roles at Hilb, Rogal & Hobbs, Glencairn Limited, Marsh Affinity Europe & Middle East, Marsh Affinity UK, and Sedgwick Affinity Group Services.
Brown & Brown’s Growth and Retail Expansion
Hearn’s appointment follows Brown & Brown’s recent expansion of its senior leadership team. In September 2024, the company named Mike Neal and Mark Abate to key leadership roles within its retail segment. Neal, a 30-year industry veteran, was appointed executive vice president and president of Brown & Brown Dealer Services. Abate, who joined the company in 2015 through the acquisition of Strategic Benefit Advisors, leads the Southborough, Massachusetts office and oversees pharmacy and audit solutions operations.
Earlier this year, Brown & Brown reported a 15.4% increase in total revenues for the fourth quarter of 2024, reaching $1.2 billion. The company achieved an organic revenue growth rate of 13.8%, with diluted net income per share at $0.73. For the full year, total revenues rose by 12.9% to $4.8 billion, while net income increased by 14% to $1 billion.
With Hearn’s leadership and extensive experience, Brown & Brown aims to continue its strong trajectory of growth and operational excellence in the insurance brokerage sector.
