Brown & Brown sees meagre profit growth as revenue falls
US insurance intermediary Brown & Brown Inc has booked second quarter net income of $41.2mn, up 1.3 percent on Q2 2009, as it pushes against falling revenues and low investment yields.
In the first six months of 2010, the broker's net income dropped slightly to $85.3mn from $88.7mn over the same period in 2009.
The Florida-headquartered company did not publish organic growth figures, but revealed that total unadjusted revenues fell 3 percent in the first half to $492mn, against $509mn...
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