Rising loss ratios hurt bottom line at Brown & Brown
Jul 18, 2011
he following article was published in the Tampa Bay Business Journal on July 18, 2011:
Rising loss ratios hurt bottom line at Brown & Brown
Brown & Brown reported net income for the three months ended June 30 of $37 million, or 26 cents a share, compared with $41.2 million, or 29 cents a share, in the same period in 2010.
The company received $4.2 million less in profit-sharing contingency commissions during the quarter, a reflection of rising loss ratios of property and casualty insurance carriers across the U.S., said J. Powell Brown, president and chief executive officer, in a company statement.
Brown & Brown (NYSE: BRO), headquartered in Tampa and in Daytona Beach, provides insurance and reinsurance products and services.
Find this article here: http://www.bizjournals.com/tampabay/news/2011/07/18/rising-loss-ratios-hurt-bottom-line-at.html