Mohamad Faizal Bin Ramli Brown & Brown (NYSE:BRO) is the sixth-largest independent insurance brokerage in the U.S., with more than 90% of revenue generated in the states. They released robust quarterly results on January 22. I am initiating a 'Strong Buy' recommendation with a fair value of $105 per share. Rate Increase in Insurance During the Q4 FY23 earnings call, they indicated that rates in the admitted market were up 5-10% for most insurance lines, and they anticipate this rate increase to remain r ...