Brown & Brown touches record high after Q2 profit beat
** Shares of insurance brokerage Brown & Brown BRO.N jump as much as 6.4% to a record high, last up 5.8%
** The company reported Q2 adjusted profit of 93 cents/share, higher than LSEG estimate of 88 cents/share, late on Monday
** The profit beat was driven by higher organic revenue growth, while investment income was also better than expected
** William Blair raised its 2024 earnings-per-share estimate for BRO, but warned organic growth could decelerate in the second half of the year
** YTD as of last close, the stock has gained 31%, outperforming rival Arthur J. Gallagher's AJG.N 21% jump
Reporting by Niket Nishant in Bengaluru
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