US-based insurer Brown & Brown has reported a net income of $36.49m, or $0.25 diluted earnings per share, for the fourth quarter of 2011, compared to $32.15m, or $0.22 diluted earnings per share, for the same period in 2010.
The total revenue for the fourth quarter of 2011 rose 6.2% to $244.1m, compared to $229.94m for the same period a year ago.
Net income for the full year of 2011 was $164m, or $1.13 diluted earnings per share, compared to $161.75m, or $1.12 diluted earnings per share, for same period in 2010.
Brown & Brown chairman and acting president and CEO Hyatt Brown said they achieved $1bn goal shortly after the end of 2001 when they attained $365m in total revenues.
"To reach this goal and to nearly triple our revenues during this time period, given the overwhelming economic headwinds of the last four years, is I believe a testament to the strength, focus and dedication of each individual in our company," added Brown.