NU Online News Service, Feb. 17, 10:26 a.m. EST
Citing the effects of the recession and continued soft market conditions, Daytona Beach, Fla.-based insurance broker Brown & Brown Inc. reported net income in the fourth quarter dropped 29 percent.
During a conference call yesterday with financial analysts, J. Powell Brown, president and chief executive officer of Brown & Brown, said this was the first time in the history of the firm that it did not grow its top and bottom line.
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