Brown & Brown Price Target Raised to $85, Acquires American Adventure Insurance Assets
Mizuho upgraded Brown & Brown to Outperform from Neutral and raised its price target to $85 from $84, citing low AI disruption risk for brokers serving middle-market and large accounts. On February 17, Brown & Brown Dealer Services acquired American Adventure Insurance’s assets, adding dealership F&I and specialty coverage services.
1. Mizuho Upgrade and Rationale
On February 27, Mizuho upgraded Brown & Brown to Outperform from Neutral, raising the price target to $85 from $84. The firm highlighted low AI disruption risk for brokers serving middle-market and large accounts, noting disintermediation threats are concentrated in mass-market personal lines and smaller SMEs.
2. Acquisition of American Adventure Insurance Assets
On February 17, Brown & Brown Dealer Services acquired the assets of American Adventure Insurance, a provider of coverage for motor homes, trailers, campers, boats, personal watercraft, motorcycles, F&I products, and commercial insurance solutions for automotive dealers. The American Adventure team, led by Paul Bender, will report to Dealer Services president Mike Neal and continue operating nationwide.
3. Company Profile
Brown & Brown is an insurance brokerage firm operating over 700 locations globally with more than 23,000 professionals. The company delivers customized property & casualty, retail, wholesale and national program solutions across diverse industries.