Income before income taxes for the second quarter of 2020 was $129.4m, compared to $123.5m for the same quarter of last year
Brown & Brown reports Q2 net income of $96.8m. (Credit: Pixabay/Free-Photos)
American insurance brokerage Brown & Brown has reported a net income of $96.8m, or $0.34 per diluted share, for the second quarter of 2020, compared to $92.6m, or $0.33 per diluted share, for the same period of last year.
Total revenues for the second quarter of this year were $598.2m, compared to $575.2m for the corresponding period of 2019.
Income before income taxes for the second quarter of 2020 was $129.4m, compared to $123.5m for the same quarter of last year.
Brown & Brown president and CEO Powell Brown said: “Our financial performance for the second quarter reflects the continued dedication and focus of our teammates to serve our customers through these unprecedented times.
“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 reports H1 net income of $249.2m in 2020
The insurance brokerage firm has reported a net income of $249.2m, or $0.88 per diluted share, for the six months ended 30 June 2020, compared to $206.5m, or $0.73 per diluted share, for the same period of 2019.
Revenues for the six months ended 30 June 2020 were $1.3bn, compared to $1.2bn for the same period of 2019.
Income before income taxes for the first half of this year was $334.7m, compared to $272m for the same period of the previous year.