Brown & Brown’s quarterly profit jumps 35% on higher commissions, fees
Insurance brokerage Brown & Brown’s (BRO.N), opens new tab second-quarter profit increased about 35% on Monday as the company earned higher commissions and fees along with robust returns on its investments.
Hopes of a soft landing for the economy coupled with rising wages have prompted businesses to revive spending on insurance policies, boosting business for brokerages that earn commissions tied to premiums paid to insurers.
Source: REUTER