Brown & Brown
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Having been notably more bearish than most in Q1, the Broker’s Q2 report looks more in line with increased market bullishness from early reporting RLI and BB&T. -
The result was driven by organic growth, $77.1mn in revenue from acquisitions and a light margin expansion.
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Terms of the deal were not disclosed.
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A firming rate environment and improved macro trends provided a dual tailwind in the quarter.
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The broker described rates as still competitive but pointed out that there are certain lines where increases are notably higher than others.
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The broker is back to growth following a disappointing 2.1 percent organic revenue drop in Q4.
