Brown & Brown insurance brokerage's net income rose nearly 16 percent in the third quarter, and the company's chief executive said he sees insurers making nice profits in the soft market.
J. Hyatt Brown, chairman and chief executive officer of the Daytona Beach, Fla.-based brokerage, made his remarks during a conference call discussing the company's results.
Mr. Brown advised that insurance carriers are making a lot of money because there have been no large catastrophic losses and the market is competitive.
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