Brown & Brown insurance brokerage reported net income increased 20 percent in the second quarter of this year compared to last with a boost in contingent commissions that were above expectations.
The firm said it registered 7 percent organic growth, but capacity remains a difficult challenge on property.
For the quarter, the Daytona Beach, Fla.-based company reported net income rose $7.4 million, from $37 million or 27 cents a share, to $44.4 million or 32 cents a share this year. Revenues increased 13 percent, or $25 million, from $196 million to $221 million.
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