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Insurance broker Brown & Brown reported that, despite a challenging soft market, second-quarter net income increased 17 percent helped by new business, recent acquisitions and the sale of a long-term investment.

For the quarter, the Daytona Beach, Fla.-based broker reported net income grew $7.6 million to $52 million from the same period last year. Earnings per share increased 5 cents to 37 cents a share. Revenues rose 12 percent, or $26 million, to $247 million.

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