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Brown & Brown income, profit rise


DAYTONA BEACH, Fla.—Brown & Brown Inc. reported double-digit revenue and profit growth for 2006, the Daytona Beach, Fla.-based broker said Monday.

Total revenues increased 11.7% to $878.0 million for the year, while profits rose 14.5% to $172.4 million, the company said.

In a statement, J. Hyatt Brown, chairman and chief executive officer, pointed to solid internal revenue growth as being instrumental in the brokerage's overall growth in 2006. He also said Brown &Brown had a "lighter than normal year of completed acquisitions."

Organic growth was 4% in 2006, said Cory Walker, Brown & Brown's chief financial officer.

Completed acquisitions last year accounted for $56 million in annualized revenue, Brown & Brown said.