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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block] 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 new 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, 2022, 2021 and 2020, 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)
 
                 
2022
     6,741,633        (5,295,763     4,728,133        2,800,269      $ 147.41      $ 149.06      $ 671.8        8.1
                 
2021
     9,201,035        32,778,563       3,508,148        6,939,244      $ 180.65      $ 145.28      $ 587.1        10.4
                 
2020
     7,254,300        15,105,043       2,573,911        4,184,212      $ 121.00      $ 106.20      $ 480.5        3.8
 
(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, 2022, 2021 and 2020, 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
)
 
             
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  
             
2020
     7,254,300        2,948,008        10,798,751                     15,105,043  
 
  *
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
($)
 
               
2022
     2,506,468        (10,904,630            (685,586                   (9,083,748
               
2021
     7,989,712        18,728,632              (200,798                   26,517,545  
               
2020
     4,031,415        6,639,119              128,217                     10,798,751  
 
 
(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, 2022, 2021 and 2020, 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)
 
             
2022
     4,728,133        2,541,365        613,501        —          —          2,800,269  
             
2021
     3,508,148        575,709        4,006,805        —          —          6,939,244  
             
2020
     2,573,911        540,422        2,150,723        —          —          4,184,212  
 
  *
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
($)
 
               
2022
     2,080,633        (1,255,815     —          (211,317     —          —          613,501  
               
2021
     1,564,556        2,529,319       —          (87,070     —          —          4,006,805  
               
2020
     739,039        1,304,049       —          107,635       —          —          2,150,723  
 
 
(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 [Text Block] 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, 2022, 2021 and 2020, is calculated, as follows.    
Peer Group Issuers, Footnote [Text Block] Peer average among Arthur J. Gallagher & Co, Aon plc, Marsh & McLennan Companies, and Willis Towers Watson Public Limited Company.    
PEO Total Compensation Amount $ 6,741,633 $ 9,201,035 $ 7,254,300
PEO Actually Paid Compensation Amount $ 5,295,763 32,778,563 15,105,043
Adjustment To PEO Compensation, Footnote [Text Block]
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
)
 
             
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  
             
2020
     7,254,300        2,948,008        10,798,751                     15,105,043  
 
  *
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
($)
 
               
2022
     2,506,468        (10,904,630            (685,586                   (9,083,748
               
2021
     7,989,712        18,728,632              (200,798                   26,517,545  
               
2020
     4,031,415        6,639,119              128,217                     10,798,751  
   
Non-PEO NEO Average Total Compensation Amount $ 4,728,133 3,508,148 2,573,911
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,800,269 6,939,244 4,184,212
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
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)
 
             
2022
     4,728,133        2,541,365        613,501        —          —          2,800,269  
             
2021
     3,508,148        575,709        4,006,805        —          —          6,939,244  
             
2020
     2,573,911        540,422        2,150,723        —          —          4,184,212  
 
  *
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
($)
 
               
2022
     2,080,633        (1,255,815     —          (211,317     —          —          613,501  
               
2021
     1,564,556        2,529,319       —          (87,070     —          —          4,006,805  
               
2020
     739,039        1,304,049       —          107,635       —          —          2,150,723  
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
 

 
   
Compensation Actually Paid vs. Net Income [Text Block]
 

 
   
Tabular List [Table Text Block]
In accordance with the SEC’s new 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 $ 147.41 180.65 121
Peer Group Total Shareholder Return Amount 149.06 145.28 106.2
Net Income (Loss) $ 671,800,000 $ 587,100,000 $ 480,500,000
Company Selected Measure Amount 8.1 10.4 3.8
PEO Name J. Powell Brown    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Organic Revenue growth rate    
Non-GAAP Measure Description [Text Block] 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 [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDAC Margin    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EPS    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Total Shareholder Return    
PEO [Member] | Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 2,953,648 $ 2,940,017 $ 2,948,008
PEO [Member] | Equity award adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 9,083,748 26,517,545 10,798,751
Fair Value of Equity Awards Granted 2,506,468 7,989,712 4,031,415
Change in Fair Value of Outstanding and Unvested Equity Awards 10,904,630 18,728,632 6,639,119
Change in Fair Value of Equity Awards Granted in Prior Years that Vested 685,586 200,798 128,217
Non-PEO NEO [Member] | Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,541,365 575,709 540,422
Non-PEO NEO [Member] | Equity award adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 613,501 4,006,805 2,150,723
Fair Value of Equity Awards Granted 2,080,633 1,564,556 739,039
Change in Fair Value of Outstanding and Unvested Equity Awards 1,255,815 2,529,319 1,304,049
Change in Fair Value of Equity Awards Granted in Prior Years that Vested $ 211,317 $ 87,070 $ 107,635