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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
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 new 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, 2023, 2022 and 2021, 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
Rate
(4)
  
  
Total
Shareholder
Return
     
Peer Group
Total
Shareholder
Return
(3)
  
2023
      9,786,745        23,865,891       3,272,317        5,477,863      $ 153      $ 161      $ 870.5        10.2 % 
2022
      6,741,633        (5,295,763 )      4,728,133        2,800,269      $ 122      $ 145      $ 671.8        8.1 % 
2021
      9,201,035        32,778,563       3,508,148        6,939,244      $ 149      $ 142      $ 587.1        10.4 % 
 
(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, 2023, 2022 and 2021, 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)
  
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  
 
  *
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
($)
  
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  
PAY VERSUS PERFORMANCE
 
 
(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, 2023, 2022 and 2021, 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)
  
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  
 
  *
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
($)
  
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  
 
 
(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 OrganicRevenuegrowthRate    
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, 2023, 2022 and 2021, 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 $ 9,786,745 $ 6,741,633 $ 9,201,035
PEO Actually Paid Compensation Amount $ 23,865,891 (5,295,763) 32,778,563
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)
  
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  
 
  *
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
($)
  
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  
    
Non-PEO NEO Average Total Compensation Amount $ 3,272,317 4,728,133 3,508,148
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,477,863 2,800,269 6,939,244
Adjustment to Non-PEO NEO Compensation Footnote
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)
  
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  
 
  *
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
($)
  
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  
    
Compensation Actually Paid vs. Total Shareholder Return
LOGO
   
Compensation Actually Paid vs. Net Income
LOGO
   
Compensation Actually Paid vs. Company Selected Measure
LOGO
   
Total Shareholder Return Vs Peer Group
LOGO
   
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 rate
  
 
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 $ 153 122 149
Peer Group Total Shareholder Return Amount 161 145 142
Net Income (Loss) $ 870,500,000 $ 671,800,000 $ 587,100,000
Company Selected Measure Amount 0.102 0.081 0.104
PEO Name J. Powell Brown    
Measure:: 1      
Pay vs Performance Disclosure      
Name Organic Revenue(1) growth rate    
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 | Reported Value Of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 2,941,861 $ 2,953,648 $ 2,940,017
PEO | Equity Award Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 17,021,007 (9,083,748) 26,517,545
PEO | Year End Fair Value Of Equity Awards Granted During The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 6,473,499 2,506,468 7,989,712
PEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 10,621,261 (10,904,630) 18,728,632
PEO | Year Over Year Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (73,753) (685,586) (200,798)
Non-PEO NEO | Reported Value Of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 612,845 2,541,365 575,709
Non-PEO NEO | Equity Award Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,818,391 613,501 4,006,805
Non-PEO NEO | Year End Fair Value Of Equity Awards Granted During The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,348,566 2,080,633 1,564,556
Non-PEO NEO | Year Over Year Change In Fair Value Of Outstanding And Unvested Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,483,272 (1,255,815) 2,529,319
Non-PEO NEO | Year Over Year Change In Fair Value Of Equity Awards Granted In Prior Years That Vested In The Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (13,447) $ (211,317) $ (87,070)