Despite being trapped in a stubborn soft market and an economy with fewer insurable exposures, the country’s biggest commercial insurance brokers reported some positive results for the second quarter while bracing for “fierce” and “intense” competition ahead.

“We continue to operate in one of the toughest economic environments since my grandfather navigated his agency through the Great Depression,” said J. Patrick Gallagher Jr., chair, president and chief executive officer of Arthur J. Gallagher.

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