Daytona Beach, Fla.-based insurance underwriting firm Brown & Brown has reported revenues of $599 million for the second quarter of 2020, a 4 percent increase over the same quarter the previous year.
Net income was $97 million, a 4.5 percent increase year-over-year.
“Our financial performance for the second quarter reflects the continued dedication and focus of our teammates to serve our customers through these unprecedented times,” said J. Powell Brown, president and CEO. “Despite the challenges of the current economic environment driven by the COVID-19 pandemic, we continue to invest in our business and expand our capabilities. I am pleased to welcome our new teammates at Loan Protector Insurance Services and the Sterling Group, and thank all of our teammates for their commitment and hard work.”
Brown & Brown Dealer Services is a division of the company that’s very active in the RV and automotive markets.