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B Brown & Brown INSURANCE® Brown & Brown , Inc. announces quarterly revenues of $ 770.3 million , an increase of 14.3 % , and diluted net income per share of $ 0.52 October 25 , 2021 DAYTONA BEACH , Fla . , Oct. 25 , 2021 ( GLOBE NEWSWIRE ) Brown & Brown , Inc. ( NYSE : BRO ) ( the " Company " ) today announced its unaudited financial results for the third quarter of 2021 . Revenues for the third quarter of 2021 under U.S. generally accepted accounting principles ( " GAAP " ) were $ 770.3 million , increasing $ 96.3 million , or 14.3 % , compared to the third quarter of the prior year , with commissions and fees increasing by 14.6 % and Organic Revenue ( 1 ) increasing by 8.5 % . Net income was $ 146.4 million , increasing $ 12.4 million , or 9.3 % , and diluted net income per share increased to $ 0.52 , or 10.6 % as compared to the third quarter of the prior year . Diluted Net Income Per Share - Adjusted ( 2 ) increased to $ 0.58 , or 11.5 % , compared to the third quarter of the prior year . Revenues for the nine months ended September 30 , 2021 under GAAP were $ 2,312.9 million , increasing $ 341.6 million , or 17.3 % , as compared to the same period in 2020 , with commissions and fees increasing by 17.5 % , and Organic Revenue increasing by 10.8 % . Net income was $ 485.4 million , increasing $ 102.2 million , or 26.7 % , and diluted net income per share for the period increased to $ 1.71 , or 26.7 % , each as compared to the same period of 2020. Diluted Net Income Per Share - Adjusted increased to $ 1.77 or 30.1 % compared to the same period of 2020 . J. Powell Brown , president and chief executive officer of the Company , noted , " We are very pleased with our growth and profitability in the third quarter . Our dedicated teammates continue to deliver for our existing and prospective customers . " Commissions and fees Reconciliation of Commissions and Fees to Organic Revenue Three and Nine Months Ended September 30 , 2021 and 2020 ( in millions , unaudited ) Profit - sharing contingent commissions Guaranteed supplemental commissions Core commissions and fees Acquisitions Dispositions Foreign currency translation Organic Revenue Organic Revenue growth Organic Revenue growth % Three Months Ended Nine Months Ended 09/30/2021 09/30/2020 09/30/2021 09/30/2020 $ 769.7 $ 671.4 $ 2,309.6 $ 1,966.1 Diluted net income per share ( 5.4 ) $ 746.7 $ ( 38.5 ) $ $ ( 17.6 ) ( 13.7 ) ( 4.4 ) 653.3 $ $ ( 1.0 ) 0.3 708.2 $ 652.6 $ 55.6 $ 8.5 % ( 63.2 ) ( 14.6 ) 2,231.8 ( 131.2 ) 2,100.6 205.5 10.8 % ( 56.3 ) ( 12.6 ) $ 1,897.2 ( 1 ) " Organic Revenue , " a non - GAAP measure , is our core commissions and fees less : ( i ) the core commissions and fees earned for the first 12 months by newly - acquired operations ; ( ii ) divested business ( core commissions and fees generated from offices , books of business or niches sold or terminated during the comparable period ) ; and ( iii ) the period - over - period impact of foreign currency translation , which is calculated by applying current - year foreign exchange rates to the same period in the prior year . The term " core commissions and fees " excludes profit - sharing contingent commissions and guaranteed supplemental commissions , and therefore represents the revenues earned directly from specific insurance policies sold and specific fee - based services rendered . Organic Revenue can be expressed as a dollar amount or a percentage rate when describing Organic Revenue growth . We have historically viewed Organic Revenue and Organic Revenue growth as important indicators when assessing and evaluating our performance on a consolidated basis and for each of our four segments , because it allows us to determine a comparable , but non - GAAP , measurement of revenue growth that is associated with the revenue sources that were a part of our business in both the current and prior year and that are expected to continue in the future . Three Months Ended 09/30/2021 09/30/2020 $ 0.52 $ 0.47 $ 0.05 ( 3.1 ) 1.0 $ 1,895.1 Reconciliation of Diluted Net Income Per Share to Diluted Net Income Per Share - Adjusted Three and Nine Months Ended September 30 , 2021 and 2020 ( unaudited ) Change Nine Months Ended 09/30/2021 09/30/2020 $ 1.71 $ 1.35 $ 0.36 Change % 10.6 % $ % 26.7 %