Brown & Brown

Founder‑influenced, owner‑oriented stewardship is a core strength. Chairman J. Hyatt Brown and CEO J. Powell Brown have cultivated a decentralized, performance‑driven culture that has compounded value for decades.

Management’s communication is conservative, with clear disclosures on organic growth, integration costs, and cash conversion, and a track record of integrating numerous acquisitions across cycles. The team has deep industry credibility and recently broadened leadership with seasoned operators in key segments.

Risks include key‑person dependence and the need to maintain culture as scale expands, but the organization’s bench and incentives appear aligned with long‑term compounding.