Brown & Brown saw net income rise 12 percent in 2012's third quarter, as an improving economic climate benefited the firm's middle market clients and a market of generally rising insurance rates boosting commissions.

The Dayton Beach, Fla.-based insurance broker says net income rose $5.33 million in the quarter to $49.5 million.

Revenues were up 17 percent, or $43.4 million to $303.8 million.

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