NU Online News Service, July 19, 2:49 p.m.EDT

Two of the three insurance-brokerage firms reporting secondquarter financial results this week showed increases in revenuesand organic growth as the economy improves and insurers push forpremium increases.

Brown & Brown reports second quarter net income rose 15percent over the same period last year, or more than $5 million, to$42.5 million. Revenues were up 18 percent, or $44 million, to $291million.

For the first six months of the year, net income is up 10percent, or $8.6 million, to $92 million. Revenues increased 17percent, or $84.4 million, to more than $593 million.

Organic growth for the second quarter is up 3.2 percent.

During a conference call with financial analysts, Cory Walker,Brown & Brown's chief financial officer notes that the firm hasnow seen two quarters of positive growth and says, “We now have atrend.”

J. Powell Brown, president and chief executive officer of thefirm, says, overall, insurers are pricing premiums upward with mostof the pressure on workers' compensation and property rates.

The wholesale markets are seeing some business move out of thestandard markets, says Brown, but “it's not a gusher yet.”

At Winston-Salem, N.C.-based bank-owned insurance brokerBB&T, insurance income rose in the second quarter by 31percent, or $94 million, to $393 million compared to the sameperiod a year ago. The primary driver for the increase was theacquisition of Crump insurance, which added approximately $77million in revenues to the results.

The bank says the insurance segment generated net income of $66million, an increase of $20 million over the second quarter of2011. The segment benefited from higher commissions on its propertyand casualty business, life insurance and employee-benefit business“as insurance pricing continues to firm.”

Kelly King, BB&T's chairman and CEO, told analysts thatinsurance showed strong results with 4 percent organic growth.

He calls the acquisition of Crump in April “a homerun.”

“Everything we see is better than we thought it would be,” saysKing, complimenting both the business and people who have joinedthe company.

San Francisco-based Wells Fargo says second quarter insuranceincome was down 8 percent, or $46 million, to $522 million comparedto the same period last year.

For the first six months, insurance income is down 3 percent, or$30 million, to $1.04 billion.

The company did not provide additional commentary on theinsurance segment and did not discuss the segment's result during aconference call with analysts.