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HRH profits increase to $65.6M in 2006


GLEN ALLEN, Va.--Hilb Rogal & Hobbs Co.'s net income for the first nine months of the year grew to $65.6 million, an increase of 78.9% over the brokerage's net income during the same period last year.

That included $19.1 million in net income during the third quarter of this year vs. a net loss of $6.8 million during the same period last year.

In a statement announcing the brokerage's financial performance thus far this year, the company noted that last year's results were affected by an aftertax charge of $26.3 million, primarily related to a regulatory settlement with the Connecticut attorney general over business practices.

HRH said Wednesday that total revenues for the first nine months of the year rose 5%, to $535.4 million, from the same period a year earlier.

HRH ranked 10th in the Business Insurance 2006 ranking of the world's largest brokerages.