Brown & Brown Inc. insurance brokerage reported first-quarter net profits rose 16 percent to $50 million, compared with $43 million for the 2005 period.
Total revenue for the Daytona Beach, Fla.-based firm in the quarter rose 14 percent to $231 million, compared with $202 million for the same year-ago period.
Chairman J. Hyatt Brown said the windstorm capacity crunch from Texas to Virginia "is the most serious I have seen in my 47-year career. But that being said, all in all, we are pleased with the results this quarter."
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