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Hilb Rogal & Hobbs Company reported 2006 fourth-quarter net income rose 10 percent thanks to increased new business, acquisitions and reduction in expenses.

The Richmond, Va.-based insurance broker reported net income rose $1.9 million, from $19.5 million to $21.4 million. Earnings per share rose from 54 cents to 59 cents. Revenues in the quarter rose 7 percent, or $11.5 million, from $164 million to $175.5 million.

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