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Insurance broker Brown & Brown results up in first half of 2012


DAYTONA BEACH, Fla.—Brown & Brown Inc.’s total revenue for the first six months of 2012 was $593.4 million, an increase of 16.6% from the year-ago period, the insurance broker said Monday.

Net income for the period rose to $91.9 million, up 10.3% from the first half of 2011.

The company posted strong organic growth with retail brokerage revenues climbing 8% to 159.7 million and wholesale brokerage revenues climbing 9% to $46.3 million.

On a quarterly basis, total revenue for the second quarter was $290.0 million, compared with $246.0 million in the second quarter of last year. Net income for the quarter increased to $42.5 million, up from $37.0 million in the same period last year.

“We are pleased with our continued incremental revenue growth and the fact that each of our four business divisions reported positive organic growth in the second quarter of 2012,” said J. Powell Brown, president and CEO of the Daytona Beach, Fla.-based brokerage, in a statement.