DAYTONA BEACH, Fla. (AP) _ Brown & Brown Inc. (BRO) on Monday reported second-quarter net income of $96.8 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had net income of 34 cents.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The insurance company posted revenue of $598.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $574.7 million.
Brown & Brown shares have risen 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $45.49, an increase of 26% in the last 12 months.