Brown & Brown (BRO) Q1 FY26 earnings call

Brown & Brown delivered solid Q1 FY26 results, driven by strong contingent commissions and disciplined expense management, despite flat organic growth ex-contingents. The company is navigating market headwinds, particularly in CAT property rates and a pharmacy consulting business model change, while actively integrating Accession and leveraging AI for future growth and efficiency. Management remains focused on deleveraging, strategic M&A, and capital returns.