Brown & Brown's 4Q Net Increases 21%, Year End Up 33%

Brown & Brown, Inc. (NYSE: BRO) yesterday announced record earnings for 2003, the eleventh consecutive year the Company has hit record highs in both revenues and income. Net income for 2003 rose to $110,322,000, or $1.60 per share, an increase of 32.7% over the $83,122,000, or $1.22 per share earned in 2002. Total revenues for the year rose to $551,040,000, up 20.9% compared with $455,742,000 attained in 2002. During the fourth quarter of 2003 net income increased to $25,800,000, or $0.37 per share, compared with 2002 fourth quarter net income of $21,380,000 or $0.31 per share, a ...