Dayton Beach, Fla.-based insurance broker Brown & Brown sawits net income rise 12 percent ($5.33 million) in 2012's thirdquarter to $49.5 million. Revenues were up 17 percent ($43.4million) to $303.8 million.
|“We are pleased with our record earnings in the third quarter,”President & CEO J. Powell Brown says in a statement. “Ourretail division continues to show increasing organic growth, whichsuggests that economic conditions are improving for our clientsacross the country that are predominantly in the middlemarket.”
|Organic growth was up 1 percent in the quarter, with thewholesale and services segment showing the biggest gains.
|Total commissions and fees for the third quarter rose 18percent, or more than $45 million, to $302 million. For the firstnine months of the year, commissions and fees increased 16 percent,or more than $124 million, to $889 million.
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