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Brown & Brown, a insurance and reinsurance provider, has reported a net income of $41.18 million, or $0.29 per diluted share, for the second quarter ended June 30, 2010, compared to $40.66 million, or $0.29 per diluted share, for the corresponding quarter of 2009.
Total revenues for the second quarter of 2010 were $243.66 million, compared to $246.37 million for the same quarter of 2009.
Net income for the six months ended June 30, 2010 was $85.31 million, or $0.59 per diluted share, compared to $88.68 million, or $0.63 per diluted share, for the corresponding period of 2009.
Total revenues for the first half of 2010 were $495.94 million, compared to $509.95 million for the same period of 2009.
Powell Brown, president and CEO of Brown & Brown, said: “The insurance marketplace continues to bump around. 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.”
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