Retail was Brown & Brown’s largest segment in fiscal 2025, bringing in $3.41B of $5.90B (58%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Retail | $2.16B | $2.51B | $2.73B | $3.41B | |||||||||||||
| Specialty Distribution | — | $1.71B | $2.02B | $2.41B | |||||||||||||
| Programs | $958.00M | — | — | — | |||||||||||||
| National Programs | — | — | — | — | |||||||||||||
| Wholesale Brokerage | $453.00M | — | — | — | |||||||||||||
| Services | — | — | — | — | |||||||||||||
| Segment Reconciling Items | $5.00M | $35.00M | $60.00M | $87.00M | |||||||||||||
| Corporate, Non-Segment | — | — | — | — | |||||||||||||
| London Operation | — | — | — | — | |||||||||||||
| Other | — | — | — | — | |||||||||||||
| Total | $3.57B | $4.26B | $4.81B | $5.90B |
Brown & Brown brought in $5.90B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 22.8% from $4.81B in fiscal 2024. Retail was the largest at $3.41B (57.7%), ahead of Specialty Distribution at $2.41B (40.8%) and Segment Reconciling Items at $87.00M (1.5%).
Compared with fiscal 2024, Retail grew 24.8% to $3.41B and Specialty Distribution grew 19.5% to $2.41B.
Brown & Brown began breaking out Specialty Distribution in fiscal 2023, when it brought in $1.71B. Brown & Brown stopped reporting Programs ($958.00M in fiscal 2022) and Wholesale Brokerage ($453.00M in fiscal 2022) as separate segments.
U.S was Brown & Brown’s largest region in fiscal 2025, bringing in $5.06B of $5.90B (86%).
| Geography | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| U.S | $3.33B | $3.73B | $4.14B | $5.06B | ||
| U.K | $170.00M | $433.00M | $545.00M | $599.00M | ||
| Other | $9.00M | $94.00M | $120.00M | $244.00M | ||
| Bermuda, Canada, Cayman Islands, Ireland & The United Kingdom | — | — | — | — | ||
| Republic Of Ireland | $38.00M | — | — | — | ||
| England, Bermuda, Cayman Islands & Ireland | — | — | — | — | ||
| Canada | $23.00M | — | — | — | ||
| Total | $3.57B | $4.26B | $4.81B | $5.90B |
Brown & Brown brought in $5.90B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 22.8% from $4.81B in fiscal 2024. U.S was the largest at $5.06B (85.7%), ahead of U.K at $599.00M (10.1%) and Other at $244.00M (4.1%).
Compared with fiscal 2024, Other grew fastest, up 103.3% to $244.00M. Every region above 2% of revenue grew.
Brown & Brown stopped reporting Republic Of Ireland ($38.00M in fiscal 2022) and Canada ($23.00M in fiscal 2022) as separate regions.
Brown & Brown (BRO) reports its revenue by segment and by geography. In fiscal 2025, Retail was its largest segment, bringing in $3.41B (57.7% of the total), followed by Specialty Distribution at $2.41B (40.8%).
Retail was Brown & Brown's largest segment in fiscal 2025, bringing in $3.41B, or 57.7% of the $5.90B total across its three segments.
U.S was Brown & Brown's largest region in fiscal 2025, bringing in $5.06B, or 85.7% of the $5.90B total across its three regions.
Retail grew faster than Specialty Distribution in fiscal 2025, up 24.8% from $2.73B to $3.41B. Specialty Distribution grew 19.5% to $2.41B.
Every figure comes from Brown & Brown's annual financial filings, as reported. Each line keeps the name Brown & Brown gives it, and years follow its fiscal calendar.
Brown & Brown's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.