XML 34 R22.htm IDEA: XBRL DOCUMENT
v3.21.2

Insurance Company WNFIC | 9 Months Ended
--- | ---
Sep. 30, 2021
Reinsurance Disclosures [Abstract] |
Insurance Company WNFIC | NOTE 14 Insurance Company WNFIC Although the reinsurers are liable to the Company for amounts reinsured, our subsidiary, Wright National Flood Insurance Company (“WNFIC”) remains primarily liable to its policyholders for the full amount of the policies written whether or not the reinsurers meet their obligations to the Company when they become due. The effects of reinsurance on premiums written and earned are as follows:
|  | Nine months ended September 30, |
(in thousands) |  | Written |  |  | Earned |
Direct premiums |  | $ | 577,348 |  |  | $ | 543,712 |
Ceded premiums |  |  | (577,332 | ) |  |  | (543,696 | )
Net premiums |  | $ | 16 |  |  | $ | 16 |
All premiums written by WNFIC under the National Flood Insurance Program (“NFIP”) are 100% ceded to the Federal Emergency Management Agency, or FEMA, for which WNFIC received a 30.0% expense allowance from January 1, 2021 through September 30, 2021. For the period from January 1, 2021 through September 30, 2021, the Company ceded $575.5 million of written premiums to FEMA, with $1.8 million ceded to highly rated carriers for excess flood policies which are not within the NFIP. As of September 30, 2021 the Condensed Consolidated Balance Sheet contained reinsurance recoverable of $220.4 million and prepaid reinsurance premiums of $411.3 million. There was no change in the net balance in the reserve for losses and loss adjustment expense during the period January 1, 2021 through September 30, 2021, as WNFIC’s direct premiums written were 100% to two reinsurers. The balance of the reserve for losses and loss adjustment expense, excluding related reinsurance recoverable, as of September 30, 2021 was $220.4 million. WNFIC maintains capital in excess of the minimum statutory amount of $7.5 million as required by regulatory authorities. The unaudited statutory capital and surplus of WNFIC was $35.1 million at September 30, 2021 and $32.6 million as of December 31, 2020. For the period from January 1, 2021 through September 30, 2021, WNFIC generated statutory net income of $1.0 million. For the period from January 1, 2020 through December 31, 2020, WNFIC generated statutory net income of $0.8 million. The maximum amount of ordinary dividends that WNFIC can pay to shareholders in a rolling 12-month period is limited to the greater of 10% of statutory adjusted capital and surplus or 100% of adjusted net income. There was no dividend payout in 2020 and the maximum dividend payout that may be made in 2021 without prior approval is $3.3 million.

X
- Definition Reinsurance Loss, Loss Adjustment Expenses [Text Block] + References No definition available. + Details
Name: | bro_ReinsuranceLossLossAdjustmentExpensesTextBlock
Namespace Prefix: | bro_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReinsuranceDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration