Brown & Brown's two TacticalVC cases examine the same decentralized operating model from different measurement angles — a deliberate choice, because the model is the thesis. Each office runs as an autonomous profit center with local ownership incentives and direct accountability for results. The outcome: organic revenue growth of 10.4%, EBITDAC margins of 35.2%, and revenue of $4.81B — best-in-class among insurance brokers at this scale. For operators benchmarking decentralized versus integrated models in insurance distribution, these cases provide the most detailed documentation of what the decentralized approach delivers in practice.
Brown & Brown grew revenue 20x to $4.8B in 25 years by acquiring 500+ independent insurance agencies.
Revenue Growth Through Serial Insurance Agency Acquisitions
Brown & Brown grew revenue 12.9% to $4.81B with 35.2% EBITDAC margin — best-in-class among insurance brokers.
Brown & Brown: Decentralized Operating Model Driving Best-in-Class Margins
Brown & Brown grew organic revenue 10.4% and EBITDAC margins to 35.2% by running each office as its own P&L center.
Decentralized Operating Model Driving Organic Growth and Margin Expansion in Insurance Brokerage