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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
LOGO
In accordance with the SEC’s
disclosure
requirements regarding pay versus performance (“PVP”), this section presents the
SEC-defined
“Compensation Actually Paid” (“CAP”). Also required by SEC’s PVP rules, this section compares CAP to various measures used to gauge our performance.
Our compensation decisions are made independently of disclosure requirements. CAP is a supplemental measure to be viewed alongside performance measures described under “Compensation Discussion and Analysis,” not in replacement.
Pay Versus Performance Table
In accordance with the SEC’s PVP rules, the following table sets forth information concerning the compensation of our Named Executive Officers for each of the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020, and our financial performance for each such fiscal year:
 
Year
   
Summary
Compensation
Table Total for
CEO ($)
  
Compensation
Actually Paid
to CEO ($)
(1)
  
Average
Summary
Compensation
Table Total for
Non-CEO
NEOs ($)
  
Average
Compensation
Actually Paid
to Non-CEO
NEOs ($)
(2)
  
Value of Initial Fixed $100
Investment Based on:
     
Net
Income
(in millions)
     
Organic
Revenue
growth
(4)
  
 
Total
Shareholder
Return
     
Peer Group
Total
Shareholder
Return
(3)
  
2024
      11,678,777        39,126,284       4,018,493        8,443,857      $ 268      $ 222      $ 1,002        10.4 %
2023
      9,786,745       23,865,891       3,272,317       5,477,863     $ 185      $ 182      $ 871        10.3 %
2022
      6,741,633       (5,295,763 )     4,728,133       2,800,269     $ 148      $ 163      $ 672        8.1 %
2021
      9,201,035       32,778,563       3,508,148       6,939,244     $ 181      $ 158      $ 587        10.4 %
2020
      7,254,300       15,105,043       2,573,911       4,184,212     $ 121      $ 112      $ 481        3.8 % 
 
(1)
 
The Compensation Actually Paid to J. Powell Brown, President and Chief Executive Officer of the Company, for each of the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020, is calculated, as follows:
 
Year
   
Reported summary
compensation
table total for CEO
($) (a)
  
Reported value
of equity
awards ($) (b)
  
Equity
award
adjustments
($) (c)*
  
Reported change
in the actuarial
present value of
pension benefits
($) (d)
   
Pension benefit
adjustments
($) (e)
   
Compensation
actually paid to
CEO
($) (a - b + c - d + e)
2024
      11,678,777        2,952,920        30,400,427      —      —       39,126,284  
2023
      9,786,745       2,941,861       17,021,007      —      —       23,865,891  
2022
      6,741,633       2,953,648       (9,083,748 )    —      —       (5,295,763 )
2021
      9,201,035       2,940,017       26,517,545      —      —       32,778,563  
2020
      7,254,300       2,948,008       10,798,751      —      —       15,105,043  
 
 
  *
The equity award adjustments shown in this column are calculated as follows:
 
Year
   
Year end fair
value of equity
awards granted
during the year
($)
  
Year over year
change in
fair value
of outstanding
and unvested
equity awards
($)
  
Fair value as of
vesting date of
equity
awards granted
and vested in
the year
($)
   
Year over year
change in fair
value of equity
awards granted
in prior years
that vested in
the year
($)
    
Fair value at
the end of the
prior year of
equity awards
that failed to
meet vesting
conditions in
the year
($)
   
Value of
dividends or
other
earnings paid
on stock or
option awards
not otherwise
reflected in
fair value or
total
compensation
($)
   
Total equity
award
adjustments
($)
2024
      6,477,250        22,365,920      —       1,557,257      —      —       30,400,427  
2023
      6,473,499       10,621,261      —       (73,753 )    —      —       17,021,007  
2022
      2,506,468       (10,904,630 )    —       (685,586 )    —      —       (9,083,748 )
2021
      7,989,712       18,728,632      —       (200,798 )    —      —       26,517,545  
2020
      4,031,415       6,639,119      —       128,217      —      —       10,798,751  
 
 
(2)
 
The average Compensation Actually Paid to our Named Executive Officers, other than J. Powell Brown, President and Chief Executive Officer of the Company, for each of the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020, is calculated, as follows.
 
Year
   
Average
reported
summary
compensation
table total for
non-CEO NEOs

($) (a)
  
Average
reported
value of
equity awards
($) (b)
  
Average
equity award
adjustments
($) (c)*
  
Average
reported
change in
the actuarial
present value
of pension
benefits ($)
(d)
     
Average
pension benefit
adjustments ($)
(e)
     
Average
compensation
actually paid to
non-CEO NEOs
($) (a - b + c - d + e)
2024
      4,018,493        885,885        5,311,249         —          —         8,443,857   
2023
      3,272,317       612,845       2,818,391        —          —         5,477,863  
2022
      4,728,133       2,541,365       613,501        —          —         2,800,269  
2021
      3,508,148       575,709       4,006,805        —          —         6,939,244  
2020
      2,573,911       540,422       2,150,723    
 
 
 
   
 
 
 
      4,184,212  
 
  *
The equity award adjustments shown in this column are calculated as follows:
 
Year
  
Average year end
fair value of
equity awards
granted during
the year
($)
  
Average year over
year change in
fair value of
outstanding and
unvested equity
awards
($)
  
Average fair
value as of
vesting
date of
equity
awards
granted and
vested in
the year
($)
    
Average year
over year
change in
fair value of
equity
awards
granted in
prior years
that vested
in the year
($)
  
Average
fair value
at the end
of the
prior year
of equity
awards
that failed
to meet
vesting
conditions
in the
year
($)
    
Average
value of
dividends or
other
earnings paid
on stock or
option
awards not
otherwise
reflected in
fair value or
total
compensation
($)
    
Average
total equity
award
adjustments
($)
  
2024     1,934,274        3,046,026        —        330,949        —         —        5,311,249  
2023     1,348,566       1,483,272        —        (13,447 )      —         —        2,818,391  
2022     2,080,633       (1,255,815 )      —        (211,317 )      —         —        613,501  
2021     1,564,556       2,529,319        —        (87,070 )      —         —        4,006,805  
2020     739,039       1,304,049    
 
 
 
     107,635    
 
 
 
  
 
 
 
     2,150,723  
 
 
(3)
 
Peer average among Arthur J. Gallagher & Co, Aon plc, Marsh & McLennan Companies and Willis Towers Watson Public Limited Company.
 
(4)
 
See
Annex A
for additional information regarding Organic Revenue growth, which is a non-GAAP financial measure, including a reconciliation to the most closely comparable GAAP financial measure.
       
Company Selected Measure Name Organic Revenue growth        
Named Executive Officers, Footnote The average Compensation Actually Paid to our Named Executive Officers, other than J. Powell Brown, President and Chief Executive Officer of the Company, for each of the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020, is calculated, as follows.        
Peer Group Issuers, Footnote Peer average among Arthur J. Gallagher & Co, Aon plc, Marsh & McLennan Companies and Willis Towers Watson Public Limited Company.        
PEO Total Compensation Amount $ 11,678,777 $ 9,786,745 $ 6,741,633 $ 9,201,035 $ 7,254,300
PEO Actually Paid Compensation Amount $ 39,126,284 23,865,891 (5,295,763) 32,778,563 15,105,043
Adjustment To PEO Compensation, Footnote
Year
   
Reported summary
compensation
table total for CEO
($) (a)
  
Reported value
of equity
awards ($) (b)
  
Equity
award
adjustments
($) (c)*
  
Reported change
in the actuarial
present value of
pension benefits
($) (d)
   
Pension benefit
adjustments
($) (e)
   
Compensation
actually paid to
CEO
($) (a - b + c - d + e)
2024
      11,678,777        2,952,920        30,400,427      —      —       39,126,284  
2023
      9,786,745       2,941,861       17,021,007      —      —       23,865,891  
2022
      6,741,633       2,953,648       (9,083,748 )    —      —       (5,295,763 )
2021
      9,201,035       2,940,017       26,517,545      —      —       32,778,563  
2020
      7,254,300       2,948,008       10,798,751      —      —       15,105,043  
 
 
  *
The equity award adjustments shown in this column are calculated as follows:
 
Year
   
Year end fair
value of equity
awards granted
during the year
($)
  
Year over year
change in
fair value
of outstanding
and unvested
equity awards
($)
  
Fair value as of
vesting date of
equity
awards granted
and vested in
the year
($)
   
Year over year
change in fair
value of equity
awards granted
in prior years
that vested in
the year
($)
    
Fair value at
the end of the
prior year of
equity awards
that failed to
meet vesting
conditions in
the year
($)
   
Value of
dividends or
other
earnings paid
on stock or
option awards
not otherwise
reflected in
fair value or
total
compensation
($)
   
Total equity
award
adjustments
($)
2024
      6,477,250        22,365,920      —       1,557,257      —      —       30,400,427  
2023
      6,473,499       10,621,261      —       (73,753 )    —      —       17,021,007  
2022
      2,506,468       (10,904,630 )    —       (685,586 )    —      —       (9,083,748 )
2021
      7,989,712       18,728,632      —       (200,798 )    —      —       26,517,545  
2020
      4,031,415       6,639,119      —       128,217      —      —       10,798,751  
        
Non-PEO NEO Average Total Compensation Amount $ 4,018,493 3,272,317 4,728,133 3,508,148 2,573,911
Non-PEO NEO Average Compensation Actually Paid Amount $ 8,443,857 5,477,863 2,800,269 6,939,244 4,184,212
Adjustment to Non-PEO NEO Compensation Footnote
 
(2)
 
The average Compensation Actually Paid to our Named Executive Officers, other than J. Powell Brown, President and Chief Executive Officer of the Company, for each of the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020, is calculated, as follows.
 
Year
   
Average
reported
summary
compensation
table total for
non-CEO NEOs

($) (a)
  
Average
reported
value of
equity awards
($) (b)
  
Average
equity award
adjustments
($) (c)*
  
Average
reported
change in
the actuarial
present value
of pension
benefits ($)
(d)
     
Average
pension benefit
adjustments ($)
(e)
     
Average
compensation
actually paid to
non-CEO NEOs
($) (a - b + c - d + e)
2024
      4,018,493        885,885        5,311,249         —          —         8,443,857   
2023
      3,272,317       612,845       2,818,391        —          —         5,477,863  
2022
      4,728,133       2,541,365       613,501        —          —         2,800,269  
2021
      3,508,148       575,709       4,006,805        —          —         6,939,244  
2020
      2,573,911       540,422       2,150,723    
 
 
 
   
 
 
 
      4,184,212  
 
  *
The equity award adjustments shown in this column are calculated as follows:
 
Year
  
Average year end
fair value of
equity awards
granted during
the year
($)
  
Average year over
year change in
fair value of
outstanding and
unvested equity
awards
($)
  
Average fair
value as of
vesting
date of
equity
awards
granted and
vested in
the year
($)
    
Average year
over year
change in
fair value of
equity
awards
granted in
prior years
that vested
in the year
($)
  
Average
fair value
at the end
of the
prior year
of equity
awards
that failed
to meet
vesting
conditions
in the
year
($)
    
Average
value of
dividends or
other
earnings paid
on stock or
option
awards not
otherwise
reflected in
fair value or
total
compensation
($)
    
Average
total equity
award
adjustments
($)
  
2024     1,934,274        3,046,026        —        330,949        —         —        5,311,249  
2023     1,348,566       1,483,272        —        (13,447 )      —         —        2,818,391  
2022     2,080,633       (1,255,815 )      —        (211,317 )      —         —        613,501  
2021     1,564,556       2,529,319        —        (87,070 )      —         —        4,006,805  
2020     739,039       1,304,049    
 
 
 
     107,635    
 
 
 
  
 
 
 
     2,150,723  
        
Compensation Actually Paid vs. Total Shareholder Return

 
        
Compensation Actually Paid vs. Net Income

       
Compensation Actually Paid vs. Company Selected Measure

       
Total Shareholder Return Vs Peer Group

 
        
Tabular List, Table
List of Most Important Financial Performance Measures
In accordance with the SEC’s PVP rules, the following tabular list sets forth the financial performance measures the Company has determined are the most important financial performance measures used to link compensation actually paid to Company performance during the last fiscal year:
 
Financial Performance Measure
     
Organic Revenue
(1)
growth
  
 
Adjusted EBITDAC Margin
(1)
  
 
Adjusted EPS
(1)
  
 
Total Shareholder Return
(2)
  
 
 
(1)
For additional information related to how we link our executive compensation programs to Adjusted EBITDAC Margin, Organic Revenue growth and Adjusted EPS, see “Compensation Discussion and Analysis.”
 
(2)
While Total Shareholder Return is not used as one of the metrics tied to the payouts under our incentive plans, the actual value realized under our equity incentive awards is based upon the Company’s Total Shareholder Return (i.e., stock price and dividends paid) over the applicable performance and vesting periods.
       
Total Shareholder Return Amount $ 268 185 148 181 121
Peer Group Total Shareholder Return Amount 222 182 163 158 112
Net Income (Loss) $ 1,002,000,000 $ 871,000,000 $ 672,000,000 $ 587,000,000 $ 481,000,000
Company Selected Measure Amount 0.104 0.103 0.081 0.104 0.038
PEO Name J. Powell Brown        
Measure:: 1          
Pay vs Performance Disclosure          
Name Organic Revenue growth        
Non-GAAP Measure Description See
Annex A
for additional information regarding Organic Revenue growth, which is a non-GAAP financial measure, including a reconciliation to the most closely comparable GAAP financial measure. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EBITDAC Margin        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted EPS        
Measure:: 4          
Pay vs Performance Disclosure          
Name Total Shareholder Return        
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 30,400,427 $ 17,021,007 $ (9,083,748) $ 26,517,545 $ 10,798,751
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,477,250 6,473,499 2,506,468 7,989,712 4,031,415
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 22,365,920 10,621,261 (10,904,630) 18,728,632 6,639,119
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,557,257 (73,753) (685,586) (200,798) 128,217
PEO | Reported Value Of Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,952,920) (2,941,861) (2,953,648) (2,940,017) (2,948,008)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,311,249 2,818,391 613,501 4,006,805 2,150,723
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,934,274 1,348,566 2,080,633 1,564,556 739,039
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,046,026 1,483,272 (1,255,815) 2,529,319 1,304,049
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 330,949 (13,447) (211,317) (87,070) 107,635
Non-PEO NEO | Reported Value Of Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (885,885) $ (612,845) $ (2,541,365) $ (575,709) $ (540,422)