DAYTONA BEACH - Brown & Brown Inc. saw its revenues rise 5.4 percent year-over-year in the second quarter while generating a net income of $61 million, down slightly from $61.8 million the same period last year.CEO J. Powell Brown said in a news release that the Daytona Beach-based national insurance agency was particularly pleased that it had another quarter of "organic growth," i.e., increases in revenues from operations it had at least a full year, as opposed to revenue growth through acquisitions of other businesses. Revenues from existing operations of at least a full year rose 1.9 percent year-over-year in the three-month period that ended June 30.Revenues for the second quarter totaled $419.4 million, up from $394.7 million the same quarter last year.For the year to date, Brown & Brown has now generated $823.7 million in revenues, putting it on pace to generate nearly $1.65 billion in revenues in 2015 if it can match its first-half performance in the final six months.Brown & Brown generated a record $1.57 billion in revenues in 2014, just three years after reaching the $1 billion mark for the first time in its history.
Comment on Brown & Brown reports 5.4 percent jump in Q2 revenues
By Clayton Park
clayton.park@news-jrnl.com, The Daytona Beach News-Journal
Tue, 07/21/2015 - 11:48am
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