Daytona, Fla.-based insurance broker Brown & Brown reported fourth-quarter net income increased 1 percent, but the overall year-end results produced a drop in net income of 13 percent primarily on investment losses.

The soft market combined with the economic downturn took a toll on organic growth, the company said, with overall growth at negative 5 percent. Retail organic growth stood at negative 7 percent, while wholesale stood at negative 14 percent.

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