DAYTONA BEACH, Fla.—Brown & Brown Inc.'s net income for the first half of 2010 dropped about 3.8% to $85.3 million from first-half 2009, the Daytona Beach, Fla.-based broker announced after the close of trading Monday.

Total revenue for the six months that ended June 30 was $495.9 million, a decline of about 2.7% from that of the same period in 2009.

Net income for the second quarter of this year rose 1.3% to $41.2 million, though total revenue for the quarter dropped about 1% to $243.7 million from the same period last year.

“The insurance marketplace continues to bump around,” said Brown & Brown President and CEO J. Powell Brown, in a statement. “Exposure units and insurance premium rates remain ‘soft' with no significant changes anticipated in the foreseeable future. The increase in our quarterly earnings in the face of such a challenging environment is a tribute to the dedication and ability of our decentralized local office teams.”

Brown & Brown ranked seventh on Business Insurance's list of the world's largest brokers, published Monday.