----

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|   |                                                                                     |
|--------|------------------------------------------------------------------------------------------|
| x      | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|   |                                                                                     |
|   | For the quarterly period ended September 30, 2009                                   |
|   |                                                                                     |
|   | or                                                                                       |
|   |                                                                                     |
| o      | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|   |                                                                                     |
|   | For the transition period from _____________ to ________________                         |

|                                     |                                 |   |
|------------------------------------------|--------------------------------------|--------|
| Florida                                  | 59-0864469                           |
| (State or other jurisdiction of          | (I.R.S. Employer Identification No.) |
| incorporation or organization)           |                                 |
|                                     |                                 |
|                                     |                                 |
| 220 South Ridgewood Avenue,              | 32114                                |
| Daytona Beach, FL                        | (Zip Code)                           |
| (Address of principal executive offices) |                                 |

|                                                        |                                          |                                |
|-------------------------------------------------------------|-----------------------------------------------|-------------------------------------|
| Large accelerated filer     x           |                                          | Accelerated filer o                 |
|                                                        |                                          |                                |
| Non-accelerated filer       o | (Do not check if a smaller reporting company) | Smaller reporting company o |

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|                          |    |                                                                                                                 |     |
|-------------------------------|---------|----------------------------------------------------------------------------------------------------------------------|----------|
|                          |    |                                                                                                                 | PAGE NO. |
| PART I. FINANCIAL INFORMATION |    |                                                                                                                 |
|                          |    |                                                                                                                 |     |   |
|                          | Item 1. | Financial Statements (Unaudited):                                                                                    |     |   |
|                          |    | Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2009 and 2008     |     | 4 |
|                          |    | Condensed Consolidated Balance Sheets as of September 30, 2009 and December 31, 2008                            |     | 5 |
|                          |    | Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2009 and 2008 |     | 6 |
|                          |    | Notes to Condensed Consolidated Financial Statements                                                                 |     | 7 |
|                          | Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations                     |     | 17 |
|                          | Item 3. | Quantitative and Qualitative Disclosures About Market Risk                                                           |     | 32 |
|                          | Item 4. | Controls and Procedures                                                                                              |     | 32 |
|                          |    |                                                                                                                 |     |
| PART II. OTHER INFORMATION    |    |                                                                                                                 |
|                          |    |                                                                                                                 |     |   |
|                          | Item 1. | Legal Proceedings                                                                                                    |     | 33 |
|                          | Item1A. | Risk Factors                                                                                                         |     | 33 |
|                          | Item 6. | Exhibits                                                                                                             |     | 33 |
|                          |    |                                                                                                                 |     |
| SIGNATURE                     |    | 34                                                                                                                   |

----

|    |                                                                                                                                                                                                                                                                                                                                                                              |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ● | Material adverse changes in economic conditions in the markets we serve and in the general economy;                                                                                                                                                                                                                                                                               |
|    |                                                                                                                                                                                                                                                                                                                                                                              |
| ● | Future regulatory actions and conditions in the states in which we conduct our business;                                                                                                                                                                                                                                                                                          |
|    |                                                                                                                                                                                                                                                                                                                                                                              |
| ● | Competition from others in the insurance agency, wholesale brokerage, insurance programs and service business;                                                                                                                                                                                                                                                                    |
|    |                                                                                                                                                                                                                                                                                                                                                                              |
| ● | A significant portion of business written by Brown & Brown is for customers located in California, Florida, Indiana, Michigan, New Jersey, New York, Pennsylvania, Texas and Washington. Accordingly, the occurrence of adverse economic conditions, an adverse regulatory climate, or a disaster in any of these states could have a materialadverse effect on our business; |
|    |                                                                                                                                                                                                                                                                                                                                                                              |
| ● | The integration of our operations with those of businesses or assets we have acquired or may acquire in the future and the failure to realize the expected benefits of such integration; and                                                                                                                                                                                      |
|    |                                                                                                                                                                                                                                                                                                                                                                              |
| ● | Other risks and uncertainties as may be detailed from time to time in our public announcements and Securities and Exchange Commission (“SEC”) filings.                                                                                                                                                                                                                |

----

PART I -FINANCIAL INFORMATION

ITEM 1 – FINANCIAL STATEMENTS (UNAUDITED)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |
|------------------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|---------|--------|--------|--------|---------|--------|
| (in thousands, except per share data)          |   | For the three monthsended September 30, |    |   | For the nine monthsended September 30, |   |
|                                           |   | 2009                                    |    |   | 2008                                   |   |    | 2009   |   |   | 2008    |   |
| REVENUES                                       |   |                                    |    |   |                                   |   |    |   |   |   |    |   |
| Commissions and fees                           |   | $                                       | 243,016 |   |                                   | $      | 243,766 |   |   | $      | 751,575 |   |   | $ | 736,129 |   |
| Investment income                              |   |                                    | 175     |   |                                   |   | 1,228   |   |   |   | 945     |   |   |   | 5,136 |   |
| Other income, net                              |   |                                    | 575     |   |                                   |   | 2,035   |   |   |   | 1,195   |   |   |   | 4,199 |   |
| Total revenues                                 |   |                                    | 243,766 |   |                                   |   | 247,029 |   |   |   | 753,715 |   |   |   | 745,464 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| EXPENSES                                       |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Employee compensation and benefits             |   |                                    | 119,607 |   |                                   |   | 122,172 |   |   |   | 369,573 |   |   |   | 363,873 |   |
| Non-cash stock-based compensation              |   |                                    | 1,732   |   |                                   |   | 1,819   |   |   |   | 5,243   |   |   |   | 5,563 |   |
| Other operating expenses                       |   |                                    | 35,523  |   |                                   |   | 36,405  |   |   |   | 107,007 |   |   |   | 101,993 |   |
| Amortization                                   |   |                                    | 12,468  |   |                                   |   | 12,281  |   |   |   | 37,372  |   |   |   | 34,789 |   |
| Depreciation                                   |   |                                    | 3,323   |   |                                   |   | 3,391   |   |   |   | 9,955   |   |   |   | 9,929 |   |
| Interest                                       |   |                                    | 3,622   |   |                                   |   | 3,867   |   |   |   | 10,888  |   |   |   | 11,045 |   |
| Total expenses                                 |   |                                    | 176,275 |   |                                   |   | 179,935 |   |   |   | 540,038 |   |   |   | 527,192 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Income before income taxes                     |   |                                    | 67,491  |   |                                   |   | 67,094  |   |   |   | 213,677 |   |   |   | 218,272 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Income taxes                                   |   |                                    | 26,530  |   |                                   |   | 26,501  |   |   |   | 84,036  |   |   |   | 85,521 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Net income                                     |   | $                                       | 40,961  |   |                                   | $      | 40,593  |   |   | $      | 129,641 |   |   | $ | 132,751 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Net income per share:                          |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Basic                                          |   | $                                       | 0.29    |   |                                   | $      | 0.29    |   |   | $      | 0.92    |   |   | $ | 0.94 |   |
| Diluted                                        |   | $                                       | 0.29    |   |                                   | $      | 0.29    |   |   | $      | 0.91    |   |   | $ | 0.94 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Weighted average number of shares outstanding: |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Basic                                          |   |                                    | 137,279 |   |                                   |   | 136,409 |   |   |   | 137,052 |   |   |   | 136,157 |   |
| Diluted                                        |   |                                    | 137,671 |   |                                   |   | 136,941 |   |   |   | 137,403 |   |   |   | 136,718 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Dividends declared per share                   |   | $                                       | 0.075   |   |                                   | $      | 0.07    |   |   | $      | 0.225   |   |   | $ | 0.21 |   |

----

CONDENSED CONSOLIDATED

|                                                                                                                           |   |              |      |   |             |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|------------------|--------|
| (in thousands, except per share data)                                                                                          |   | September 30,2009 |      |   | December 31,2008 |   |
|                                                                                                                           |   |              |      |   |             |   |
| ASSETS                                                                                                                         |   |              |      |   |             |   |
| Current Assets:                                                                                                                |   |              |      |   |             |   |
| Cash and cash equivalents                                                                                                      |   | $                 | 186,247   |   |             | $      | 78,557 |   |
| Restricted cash and investments                                                                                                |   |              | 158,843   |   |             |   | 144,750 |   |
| Short-term investments                                                                                                         |   |              | 8,219     |   |             |   | 7,511 |   |
| Premiums, commissions and fees receivable                                                                                      |   |              | 238,525   |   |             |   | 244,515 |   |
| Deferred income taxes                                                                                                          |   |              | —   |   |             |   | 14,171 |   |
| Other current assets                                                                                                           |   |              | 36,487    |   |             |   | 33,528 |   |
| Total current assets                                                                                                           |   |              | 628,321   |   |             |   | 523,032 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Fixed assets, net                                                                                                              |   |              | 62,324    |   |             |   | 63,520 |   |
| Goodwill                                                                                                                       |   |              | 1,063,357 |   |             |   | 1,023,372 |   |
| Amortizable intangible assets, net                                                                                             |   |              | 477,541   |   |             |   | 495,627 |   |
| Other assets                                                                                                                   |   |              | 6,579     |   |             |   | 14,029 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Total assets                                                                                                                   |   | $                 | 2,238,122 |   |             | $      | 2,119,580 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                     |   |              |      |   |             |   |   |   |
| Current Liabilities:                                                                                                           |   |              |      |   |             |   |   |   |
| Premiums payable to insurance companies                                                                                        |   | $                 | 349,777   |   |             | $      | 357,707 |   |
| Premium deposits and credits due customers                                                                                     |   |              | 48,224    |   |             |   | 43,577 |   |
| Accounts payable                                                                                                               |   |              | 14,987    |   |             |   | 18,872 |   |
| Accrued expenses                                                                                                               |   |              | 83,493    |   |             |   | 96,325 |   |
| Current portion of long-term debt                                                                                              |   |              | 11,464    |   |             |   | 6,162 |   |
| Total current liabilities                                                                                                      |   |              | 507,945   |   |             |   | 522,643 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Long-term debt                                                                                                                 |   |              | 250,589   |   |             |   | 253,616 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Deferred income taxes, net                                                                                                     |   |              | 107,996   |   |             |   | 90,143 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Other liabilities                                                                                                              |   |              | 16,898    |   |             |   | 11,437 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Shareholders’ Equity:                                                                                                    |   |              |      |   |             |   |   |   |
| Common stock, par value $0.10 per share; authorized 280,000 shares; issued and outstanding 142,046 at 2009 and 141,544 at 2008 |   |              | 14,205    |   |             |   | 14,154 |   |
| Additional paid-in capital                                                                                                     |   |              | 265,324   |   |             |   | 250,167 |   |
| Retained earnings                                                                                                              |   |              | 1,075,161 |   |             |   | 977,407 |   |
| Accumulated other comprehensive income, net of related income tax effect of $3 at 2009 and $8 at 2008                          |   |              | 4         |   |             |   | 13 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Total shareholders’ equity                                                                                               |   |              | 1,354,694 |   |             |   | 1,241,741 |   |
|                                                                                                                           |   |              |      |   |             |   |   |   |
| Total liabilities and shareholders’ equity                                                                               |   | $                 | 2,238,122 |   |             | $      | 2,119,580 |   |

----

CONDENSED CONSOLIDATED STATEMENTS OF

|                                                                                           |   |                                   |    |    |   |   |
|------------------------------------------------------------------------------------------------|--------|----------------------------------------|---------|---------|--------|--------|
|                                                                                           |   | For the nine monthsended September 30, |    |
| (in thousands)                                                                                 |   | 2009                                   |    |    | 2008   |   |
|                                                                                           |   |                                   |    |    |   |   |
| Cash flows from operating activities:                                                          |   |                                   |    |    |   |   |
| Net income                                                                                     |   | $                                      | 129,641 |    |   | $      | 132,751 |   |
| Adjustments to reconcile net income to net cash provided by operating activities:              |   |                                   |    |    |   |   |   |   |
| Amortization                                                                                   |   |                                   | 37,372  |    |   |   | 34,789 |   |
| Depreciation                                                                                   |   |                                   | 9,955   |    |   |   | 9,929 |   |
| Non-cash stock-based compensation                                                              |   |                                   | 5,243   |    |   |   | 5,563 |   |
| Deferred income taxes                                                                          |   |                                   | 32,029  |    |   |   | 33,750 |   |
| Net loss (gain) on sales of investments, fixed assets and customer accounts                    |   |                                   | 499     |    |   |   | (235 | )  |
| Changes in operating assets and liabilities, net of effect from acquisitions and divestitures: |   |                                   |    |    |   |   |   |   |
| Restricted cash and investments (increase) decrease                                            |   |                                   | (14,093 | )       |   |   | 13,788 |   |
| Premiums, commissions and fees receivable decrease (increase)                                  |   |                                   | 7,633   |    |   |   | (12,010 | )  |
| Other assets decrease                                                                          |   |                                   | 3,323   |    |   |   | 9,432 |   |
| Premiums payable to insurance companies (decrease)                                             |   |                                   | (8,916  | )  |   |   | (6,826 | )  |
| Premium deposits and credits due customers increase                                            |   |                                   | 4,518   |    |   |   | 7,067 |   |
| Accounts payable (decrease)                                                                    |   |                                   | (3,830  | )  |   |   | (7,758 | )  |
| Accrued expenses (decrease)                                                                    |   |                                   | (13,346 | )       |   |   | (14,503 | ) |
| Other liabilities (decrease)                                                                   |   |                                   | (770    | )  |   |   | (1,672 | )  |
| Net cash provided by operating activities                                                      |   |                                   | 189,258 |    |   |   | 204,065 |   |
|                                                                                           |   |                                   |    |    |   |   |   |   |
| Cash flows from investing activities:                                                          |   |                                   |    |    |   |   |   |   |
| Additions to fixed assets                                                                      |   |                                   | (8,734  | )       |   |   | (11,115 | ) |
| Payments for businesses acquired, net of cash acquired                                         |   |                                   | (42,272 | )       |   |   | (221,616 | ) |
| Proceeds from sales of fixed assets and customer accounts                                      |   |                                   | 886     |    |   |   | 3,881 |   |
| Purchases of investments                                                                       |   |                                   | (5,601  | )       |   |   | (7,874 | ) |
| Proceeds from sales of investments                                                             |   |                                   | 4,879   |    |   |   | 4,080 |   |
| Net cash used in investing activities                                                          |   |                                   | (50,842 | )       |   |   | (232,644 | ) |
|                                                                                           |   |                                   |    |    |   |   |   |   |
| Cash flows from financing activities:                                                          |   |                                   |    |    |   |   |   |   |
| Proceeds from long-term debt                                                                   |   |                                   | — |    |   |   | 25,000 |   |
| Payments on long-term debt                                                                     |   |                                   | (8,804  | )       |   |   | (15,672 | ) |
| Borrowings on revolving credit facility                                                        |   |                                   | 12,670  |    |   |   | 2,180 |   |
| Payments on revolving credit facility                                                          |   |                                   | (12,670 | )       |   |   | (2,180 | )  |
| Income tax benefit from exercise of stock options                                              |   |                                   | 110     |    |   |   | — |   |
| Issuances of common stock for employee stock benefit plans                                     |   |                                   | 9,855   |    |   |   | 10,611 |   |
| Cash dividends paid                                                                            |   |                                   | (31,887 | )       |   |   | (29,594 | ) |
| Net cash used in financing activities                                                          |   |                                   | (30,726 | )       |   |   | (9,655 | )  |
| Net increase (decrease) in cash and cash equivalents                                           |   |                                   | 107,690 |    |   |   | (38,234 | ) |
| Cash and cash equivalents at beginning of period                                               |   |                                   | 78,557  |    |   |   | 38,234 |   |
| Cash and cash equivalents at end of period                                                     |   | $                                      | 186,247 |    |   | $      | - |   |

----

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |
|----------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|---------|---------|----------------------------------------|---------|---------|---------|--------|----------|---------|---------|
|                                                                                                           |   | For the three monthsended September 30, |    |    | For the nine monthsended September 30, |    |
| (in thousands, except per share data)                                                                     |   | 2009                                    |    |    | 2008                                   |    |    | 2009    |   |     | 2008    |    |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |
| Net income                                                                                                     |   |  $                                 | 40,961  |    |                                   |  $ | 40,593  |    |   |  $  | 129,641 |    |   |  $ | 132,751 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Net income attributable to unvested awarded performance stock                                                  |   |                                    | (1,310  | )  |                                   |    | (1,342  | )  |   |     | (4,194  | )       |   |   | (4,409 | )  |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Net income attributable to common shares                                                                       |   |  $                                 | 39,651  |    |                                   |  $ | 39,251  |    |   |  $$ | 125,447 |    |   |  $ | 128,342 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Weighted average basic number of common shares outstanding                                                     |   |                                    | 141,817 |    |                                   |    | 141,073 |    |   |     | 141,634 |    |   |   | 140,834 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
|    Less unvested awarded performance stock included in weighted average basic share outstanding |   |                                    | (4,538  |  ) |                                   |    | (4,664  | )  |   |     | (4,582  |  ) |   |   | (4,677 | )  |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Weighted average number of common shares outstanding for basic earning per common share                        |   |                                    | 137,279 |    |                                   |    | 136,409 |    |   |     | 137,052 |    |   |   | 136,157 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Dilutive effect of stock options                                                                               |   |                                    | 392     |    |                                   |    | 532     |    |   |     | 351     |    |   |   | 561 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Weighted average number of shares outstanding                                                                  |   |                                    | 137,671 |    |                                   |    | 136,941 |    |   |     | 137,403 |    |   |   | 136,718 |   |
|                                                                                                           |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Net income per share:                                                                                          |   |                                    |    |    |                                   |    |    |    |   |     |    |    |   |   |   |   |
| Basic                                                                                                          |   | $                                       | 0.29    |    |                                   | $       | 0.29    |    |   | $        | 0.92    |    |   | $ | 0.94 |   |
| Diluted                                                                                                        |   | $                                       | 0.29    |    |                                   | $       | 0.29    |    |   | $        | 0.91    |    |   | $ | 0.94 |   |

----

----

|                          |   |            |   |                   |   |        |   |        |   |                    |   |                  |    |                            |   |   |   |   |    |   |
|-------------------------------|--------|-----------------|--------|------------------------|--------|-------------|--------|-------------|--------|-------------------------|--------|-----------------------|---------|---------------------------------|--------|--------|--------|--------|---------|--------|
| (in thousands) Name      |   | BusinessSegment |   | 2009Date ofAcquisition |   | NetCashPaid |   | NotePayable |   | RecordedEarn-outPayable |   | RecordedPurchasePrice |    | MaximumPotentialEarn-outPayable |   |
| Conner Strong Companies, Inc. |   | Retail          |   | January 2              |   | $           | 22,748 |        | $      | —                 |   | $                     | — |                            | $      | 22,748 |   | $      | — |   |
| Other                         |   | Various         |   | Various                |   |        | 16,032 |        |   | 340                     |   |                  | 6,261   |                            |   | 22,633 |   |   | 13,169  |   |
| Total                         |   |            |   |                   |   | $           | 38,780 |        | $      | 340                     |   | $                     | 6,261   |                            | $      | 45,381 |   | $      | 13,169  |   |

|                        |   |         |    |   |   |   |    |   |   |
|-----------------------------|--------|--------------|---------|--------|--------|--------|---------|--------|--------|
| (in thousands)              |   | ConnerStrong |    |   | Other  |   |    | Total  |   |
| Fiduciary cash              |   | $            | — |   |   | $      | — |   |   | $ | — |   |
| Other current assets        |   |         | 556     |   |   |   | 1,087   |   |   |   | 1,643 |   |
| Fixed assets                |   |         | 52      |   |   |   | 122     |   |   |   | 174 |   |
| Goodwill                    |   |         | 13,591  |   |   |   | 12,218  |   |   |   | 25,809 |   |
| Purchased customer accounts |   |         | 8,698   |   |   |   | 10,531  |   |   |   | 19,229 |   |
| Noncompete agreements       |   |         | — |   |   |   | 103     |   |   |   | 103 |   |
| Other assets                |   |         | — |   |   |   | (2      | )      |   |   | (2 | ) |
| Total assets acquired       |   |         | 22,897  |   |   |   | 24,059  |   |   |   | 46,956 |   |
|                        |   |         |    |   |   |   |    |   |   |   |   |   |
| Other current liabilities   |   |         | (149    | )      |   |   | (1,426  | )      |   |   | (1,575 | ) |
| Total liabilities assumed   |   |         | (149    | )      |   |   | (1,426  | )      |   |   | (1,575 | ) |
| Net assets acquired         |   | $            | 22,748  |   |   | $      | 22,633  |   |   | $ | 45,381 |   |

----

|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |
|------------------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|---------|--------|--------|--------|---------|--------|
|                                           |   | For the three monthsended September 30, |    |   | For the nine monthsended September 30, |   |
| (in thousands, except per share data)          |   | 2009                                    |    |   | 2008                                   |   |    | 2009   |   |   | 2008    |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Total revenues                                 |   | $                                       | 244,067 |   |                                   | $      | 252,505 |   |   | $      | 757,921 |   |   | $ | 761,460 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Income before income taxes                     |   |                                    | 67,607  |   |                                   |   | 68,916  |   |   |   | 215,112 |   |   |   | 223,623 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Net income                                     |   |                                    | 41,031  |   |                                   |   | 41,695  |   |   |   | 130,512 |   |   |   | 136,006 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Net income per share:                          |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Basic                                          |   | $                                       | 0.29    |   |                                   | $      | 0.30    |   |   | $      | 0.92    |   |   | $ | 0.97 |   |
| Diluted                                        |   | $                                       | 0.29    |   |                                   | $      | 0.29    |   |   | $      | 0.92    |   |   | $ | 0.96 |   |
|                                           |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Weighted average number of shares outstanding: |   |                                    |    |   |                                   |   |    |   |   |   |    |   |   |   |   |   |
| Basic                                          |   |                                    | 137,279 |   |                                   |   | 136,409 |   |   |   | 137,052 |   |   |   | 136,157 |   |
| Diluted                                        |   |                                    | 137,671 |   |                                   |   | 136,941 |   |   |   | 137,403 |   |   |   | 136,718 |   |

| (in thousands) Name              |   | BusinessSegment |   | 2008Date ofAcquisition |   | NetCashPaid |    |   | NotesPayable |   |   | RecordedPurchasePrice |   |
|---------------------------------------|--------|-----------------|--------|------------------------|--------|-------------|---------|--------|--------------|--------|--------|-----------------------|--------|
| LDP Consulting Group, Inc.            |   | Retail          |   | January 24             |   |        | 39,241  |   |         |   | -      |                  |   |   | 39,241 |   |
| Powers & Effler Insurance Brokers |   | Retail          |   | April 1                |   |        | 25,036  |   |         |   | -      |                  |   |   | 25,036 |   |
| HBA Insurance Group, Inc.             |   | Retail          |   | June 1                 |   |        | 48,306  |   |         |   | 2,000  |                  |   |   | 50,306 |   |
| Fullerton & Company, Inc.         |   | Retail          |   | August 1               |   |        | 17,399  |   |         |   | -      |                  |   |   | 17,399 |   |
| Other                                 |   | Various         |   | Various                |   |        | 85,144  |   |         |   | 3,213  |                  |   |   | 88,357 |   |
| Total                                 |   |            |   |                   |   | $           | 215,126 |   |         | $      | 5,213  |                  |   | $ | 220,339 |   |

----

| (in thousands)                                                                                                                                                                                                                                                                  |   | LDP    |   |   | Powers |   |   | HBA    |   |   | Fullerton |   |   | Other  |   |   | Total  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|--------|--------|--------|--------|--------|--------|
| Fiduciary cash                                                     |   | $      | 173    |   |   | $      | -      |   |   | $      | -         |   |   | $      | 1,541  |   |   | $      | - |   |   | $ | 1,714 |   |
| Other current assets                                               |   |   | 1,121  |   |   |   | 75     |   |   |   | -         |   |   |   | 1,242  |   |   |   | 1,804 |   |   |   | 4,242 |   |
| Fixed assets                                                       |   |   | 19     |   |   |   | 353    |   |   |   | 652       |   |   |   | 41     |   |   |   | 504 |   |   |   | 1,569 |   |
| Goodwill                                                           |   |   | 21,857 |   |   |   | 17,227 |   |   |   | 35,158    |   |   |   | 15,029 |   |   |   | 49,128 |   |   |   | 138,399 |   |
| Purchased customer accounts                                                                                                                                                                                                                                                     |   |   | 21,225 |   |   |   | 7,545  |   |   |   | 14,390    |   |   |   | 5,105  |   |   |   | 38,421 |   |   |   | 86,686 |   |
| Noncompete agreements                                                                                                                                                                                                                                                           |   |   | 55     |   |   |   | 11     |   |   |   | 141       |   |   |   | 80     |   |   |   | 420 |   |   |   | 707 |   |
| Other assets                                                                                                                                                                                                                                                                    |   |   | 11     |   |   |   | -      |   |   |   | -         |   |   |   | 644    |   |   |   | 16 |   |   |   | 671 |   |
| Total assets acquired                                                                                                                                                                                                                                                           |   |   | 44,461 |   |   |   | 25,211 |   |   |   | 50,341    |   |   |   | 23,682 |   |   |   | 90,293 |   |   |   | 233,988 |   |
| Other current liabilities                                          |   |   | (5,220 | )      |   |   | (175   | )      |   |   | (35       | )      |   |   | (4,589 | )      |   |   | (1,936 | ) |   |   | (11,955 | ) |
| Deferred income taxes                                              |   |   | -      |   |   |   | -      |   |   |   | -         |   |   |   | (1,694 | )      |   |   | - |   |   |   | (1,694 | ) |
| Total liabilities assumed                                                                                                                                                                                                                                                       |   |   | (5,220 | )      |   |   | (175   | )      |   |   | (35       | )      |   |   | (6,283 | )      |   |   | (1,936 | ) |   |   | (13,649 | ) |
| Net assets acquired                                                |   | $      | 39,241 |   |   | $      | 25,036 |   |   | $      | 50,306    |   |   | $      | 17,399 |   |   | $      | 88,357 |   |   | $ | 220,339 |   |

|                                           |   | For the three months |    |   | For the nine months |   |
|------------------------------------------------|--------|----------------------|---------|--------|---------------------|--------|
|                                           |   | ended September 30,  |    |   | ended September 30, |   |
| (in thousands, except per share data)          |   | 2008                 |    |   | 2007                |   |   | 2008 |   |   | 2007 |   |
|                                           |   |                 |    |   |                |   |   |   |   |   |   |   |
| Total revenues                                 |   | $                    | 248,448 |   |                | $      | 260,223 |   |   | $ | 775,833 |   |   | $ | 813,676 |   |
|                                           |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes                     |   |                 | 67,561  |   |                |   | 83,081 |   |   |   | 228,296 |   |   |   | 281,641 |   |
|                                           |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                     |   |                 | 40,875  |   |                |   | 50,901 |   |   |   | 138,847 |   |   |   | 172,408 |   |
|                                           |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Net income per share:                          |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                          |   | $                    | 0.29    |   |                | $      | 0.36 |   |   | $ | 0.99 |   |   | $ | 1.23 |   |
| Diluted                                        |   | $                    | 0.29    |   |                | $      | 0.36 |   |   | $ | 0.98 |   |   | $ | 1.22 |   |
|                                           |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares outstanding: |   |                 |    |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                          |   |                 | 136,409 |   |                |   | 135,728 |   |   |   | 136,157 |   |   |   | 135,455 |   |
| Diluted                                        |   |                 | 136,941 |   |                |   | 136,423 |   |   |   | 136,718 |   |   |   | 136,263 |   |

----

|                                                 |   |   |    |   |               |   |    |             |   |   |     |   |   |   |    |
|------------------------------------------------------|--------|--------|---------|--------|--------------------|--------|---------|------------------|--------|--------|----------|--------|--------|--------|---------|
| (in thousands)                                       |   | Retail |    |   | WholesaleBrokerage |   |    | NationalPrograms |   |   | Services |   |   | Total  |    |
| Balance as of January 1, 2009                        |   | $      | 620,588 |   |               | $      | 246,216 |             |   | $      | 147,298  |   |   | $      | 9,270   |   |   | $ | 1,023,372 |   |
| Goodwill of acquired businesses                      |   |   | 27,255  |   |               |   | 8,241   |             |   |   | 4,489    |   |   |   | — |   |   |   | 39,985 |   |
| Goodwill disposed of relating to sales of businesses |   |   | — |   |               |   | — |             |   |   | —  |   |   |   | — |   |   |   | — |   |
| Balance as of September 30, 2009                     |   | $      | 647,843 |   |               | $      | 254,457 |             |   | $      | 151,787  |   |   | $      | 9,270   |   |   | $ | 1,063,357 |   |

|                        |   |               |    |   |                    |   |     |             |   |   |                       |   |   |               |   |   |                    |   |    |             |   |   |                       |   |   |
|-----------------------------|--------|--------------------|---------|--------|-------------------------|--------|----------|------------------|--------|--------|----------------------------|--------|--------|--------------------|--------|--------|-------------------------|--------|---------|------------------|--------|--------|----------------------------|--------|--------|
|                        |   | September 30, 2009 |    |   | December 31, 2008       |   |
| (in thousands)              |   | GrossCarryingValue |    |   | AccumulatedAmortization |   |     | NetCarryingValue |   |   | WeightedAverageLife(years) |   |   | GrossCarryingValue |   |   | AccumulatedAmortization |   |    | NetCarryingValue |   |   | WeightedAverageLife(years) |   |   |
|                        |   |               |    |   |                    |   |     |             |   |   |                       |   |   |               |   |   |                    |   |    |             |   |   |                       |   |   |
| Purchased customer accounts |   | $                  | 744,044 |   |                    | $      | (268,232 | )                |   | $      | 475,812                    |   |   |               | 14.9   |   |                    | $      | 724,953 |             |   | $      | (231,748                   | )      |   | $ | 493,205 |   |   |   | 14.9 |   |   |
| Noncompete agreements       |   |               | 24,589  |   |                    |   | (22,860  | )                |   |   | 1,729                      |   |   |               | 7.3    |   |                    |   | 24,455  |             |   |   | (22,033                    | )      |   |   | 2,422 |   |   |   | 7.3 |   |   |
| Total                       |   | $                  | 768,633 |   |                    | $      | (291,092 | )                |   | $      | 477,541                    |   |   |               |   |   |                    | $      | 749,408 |             |   | $      | (253,781                   | )      |   | $ | 495,627 |   |   |   |   |   |   |

|                                                              |   |               |   |   |              |   |    |    |   |   |        |   |
|-------------------------------------------------------------------|--------|--------------------|--------|--------|-------------------|--------|---------|---------|--------|--------|-------------|--------|
|                                                              |   | September 30, 2009 |   |   | December 31, 2008 |   |
|                                                              |   | Carrying Value     |   |   | Carrying Value    |   |
| (in thousands)                                                    |   | Current            |   |   | Non-Current       |   |    | Current |   |   | Non-Current |   |
| Available-for-sale marketable equity securities                   |   | $                  | 32     |   |              | $      | — |    |   | $      | 46          |   |   | $ | — |   |
| Non-marketable equity securities and certificates of deposit |   |               | 8,187  |   |              |   | 115     |    |   |   | 7,465       |   |   |   | 287 |   |
| Total investments                                                 |   | $                  | 8,219  |   |              | $      | 115     |    |   | $      | 7,511       |   |   | $ | 287 |   |

|                          |   |   |   |   |                 |   |   |                  |   |   |               |   |
|-------------------------------|--------|--------|--------|--------|----------------------|--------|--------|-----------------------|--------|--------|--------------------|--------|
| (in thousands)                |   | Cost   |   |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses |   |   | EstimatedFairValue |   |
| Marketable equity securities: |   |   |   |   |                 |   |   |                  |   |   |               |   |
| September 30, 2009            |   | $      | 25     |   |                 | $      | 7      |                  |   | $      | —            |   |   | $ | 32 |   |
| December 31, 2008             |   | $      | 25     |   |                 | $      | 21     |                  |   | $      | —            |   |   | $ | 46 |   |

----

|                        |   |     |   |   |               |   |    |                |   |
|-----------------------------|--------|----------|--------|--------|--------------------|--------|---------|---------------------|--------|
| (in thousands)              |   | Proceeds |   |   | GrossRealizedGains |   |    | GrossRealizedLosses |   |
| For the three months ended: |   |     |   |   |               |   |    |                |   |
| September 30, 2009          |   | $        | 781    |   |               | $      | — |                |   | $ | (207 | )  |
| September 30, 2008          |   | $        | 3,269  |   |               | $      | — |                |   | $ | — |   |
|                        |   |     |   |   |               |   |    |                |   |   |   |   |
| For the nine months ended:  |   |     |   |   |               |   |    |                |   |   |   |   |
| September 30, 2009          |   | $        | 4,879  |   |               | $      | — |                |   | $ | (207 | )  |
| September 30, 2008          |   | $        | 3,976  |   |               | $      | 542     |                |   | $ | (9 | ) |

|                      |   |          |    |   |         |   |
|---------------------------|--------|---------------|---------|--------|--------------|--------|
|                      |   | September 30, |    |   | December 31, |   |
| (in thousands)            |   | 2009          |    |   | 2008         |   |
| Unsecured senior notes    |   | $             | 250,000 |   |         | $      | 250,000 |   |
| Acquisition notes payable |   |          | 11,996  |   |         |   | 9,665 |   |
| Revolving credit facility |   |          | — |   |         |   | — |   |
| Other notes payable       |   |          | 57      |   |         |   | 113 |   |
| Total debt                |   |          | 262,053 |   |         |   | 259,778 |   |
| Less current portion      |   |          | (11,464 | )      |         |   | (6,162 | ) |
| Long-term debt            |   | $             | 250,589 |   |         | $      | 253,616 |   |

----

|                             |   |                                   |   |   |   |   |
|----------------------------------|--------|----------------------------------------|--------|--------|--------|--------|
|                             |   | For the nine monthsended September 30, |   |
| (in thousands)                   |   | 2009                                   |   |   | 2008   |   |
| Cash paid during the period for: |   |                                   |   |   |   |   |
| Interest                         |   | $                                      | 13,494 |   |   | $      | 13,332 |   |
| Income taxes                     |   | $                                      | 56,889 |   |   | $      | 48,624 |   |

|                                                                                                                                  |   |                                   |   |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|--------|--------|--------|--------|
|                                                                                                                                  |   | For the nine monthsended September 30, |   |
| (in thousands)                                                                                                                        |   | 2009                                   |   |   | 2008   |   |
|                                                                                                                                  |   |                                   |   |   |   |   |
| Unrealized holding (loss) gain on available-for-sale securities, net of tax benefit of $5 for 2009; net of tax benefit of $0 for 2008 |   | $                                      | (9     | )      |   | $      | - |   |
| Notes payable issued or assumed for purchased customer accounts                                                                       |   | $                                      | 17,340 |   |   | $      | 12,897 |   |
| Notes receivable on the sale of fixed assets and customer accounts                                                                    |   | $                                      | (958   | )      |   | $      | 2,916 |   |

|                                                                |   |                                    |   |   |                                   |   |   |   |   |   |    |   |
|---------------------------------------------------------------------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|--------|--------|--------|--------|---------|--------|
|                                                                |   | For the three monthsended September 30, |   |   | For the nine monthsended September 30, |   |
| (in thousands)                                                      |   | 2009                                    |   |   | 2008                                   |   |   | 2009   |   |   | 2008    |   |
|                                                                |   |                                    |   |   |                                   |   |   |   |   |   |    |   |
| Net income                                                          |   | $                                       | 40,961 |   |                                   | $      | 40,593 |   |   | $      | 129,641 |   |   | $ | 132,751 |   |
| Net unrealized holding gain (loss) on available-for-sale securities |   |                                    | 4      |   |                                   |   | 5      |   |   |   | (9      | )      |   |   | - |   |
| Comprehensive income                                                |   | $                                       | 40,965 |   |                                   | $      | 40,598 |   |   | $      | 129,632 |   |   | $ | 132,751 |   |

----

----

|                       |   |                                         |      |   |               |   |    |             |   |   |     |   |   |   |   |   |   |   |     |
|----------------------------|--------|----------------------------------------------|-----------|--------|--------------------|--------|---------|------------------|--------|--------|----------|--------|--------|--------|--------|--------|--------|--------|----------|
|                       |   | For the nine months ended September 30, 2009 |      |
| (in thousands)             |   | Retail                                       |      |   | WholesaleBrokerage |   |    | NationalPrograms |   |   | Services |   |   | Other  |   |   | Total  |   |     |
| Total revenues             |   | $                                            | 451,966   |   |               | $      | 126,517 |             |   | $      | 148,656  |   |   | $      | 24,655 |   |   | $      | 1,921    |   |   | $ | 753,715 |   |   |
| Investment income          |   |                                         | 221       |   |               |   | 56      |             |   |   | 3        |   |   |   | 18     |   |   |   | 647      |   |   |   | 945 |   |   |
| Amortization               |   |                                         | 22,448    |   |               |   | 7,679   |             |   |   | 6,870    |   |   |   | 346    |   |   |   | 29       |   |   |   | 37,372 |   |   |
| Depreciation               |   |                                         | 4,567     |   |               |   | 2,164   |             |   |   | 2,030    |   |   |   | 263    |   |   |   | 931      |   |   |   | 9,955 |   |   |
| Interest                   |   |                                         | 24,214    |   |               |   | 10,932  |             |   |   | 4,209    |   |   |   | 514    |   |   |   | (28,981  | ) |   |   | 10,888 |   |   |
| Income before income taxes |   |                                         | 101,257   |   |               |   | 18,587  |             |   |   | 58,575   |   |   |   | 5,483  |   |   |   | 29,775   |   |   |   | 213,677 |   |   |
| Total assets               |   |                                         | 1,754,160 |   |               |   | 618,801 |             |   |   | 697,402  |   |   |   | 46,396 |   |   |   | (878,637 | ) |   |   | 2,238,122 |   |   |
| Capital expenditures       |   |                                         | 2,722     |   |               |   | 2,538   |             |   |   | 3,238    |   |   |   | 120    |   |   |   | 116      |   |   |   | 8,734 |   |   |

|                       |   | For the nine months ended September 30, 2008 |      |
|----------------------------|--------|----------------------------------------------|-----------|
| (in thousands)             |   | Retail                                       |      |   | WholesaleBrokerage |   |   | NationalPrograms |   |   | Services |   |   | Other |   |   | Total |   |   |
| Total revenues             |   | $                                            | 450,959   |   |   | $ | 137,469 |   |   | $ | 128,141 |   |   | $ | 23,831 |   |   | $ | 5,064 |   |   | $ | 745,464 |   |   |
| Investment income          |   |                                         | 878       |   |   |   | 1,223 |   |   |   | 263 |   |   |   | 6 |   |   |   | 2,766 |   |   |   | 5,136 |   |   |
| Amortization               |   |                                         | 19,943    |   |   |   | 7,646 |   |   |   | 6,825 |   |   |   | 346 |   |   |   | 29 |   |   |   | 34,789 |   |   |
| Depreciation               |   |                                         | 4,518     |   |   |   | 2,169 |   |   |   | 2,017 |   |   |   | 317 |   |   |   | 908 |   |   |   | 9,929 |   |   |
| Interest                   |   |                                         | 21,864    |   |   |   | 13,756 |   |   |   | 5,890 |   |   |   | 559 |   |   |   | (31,024 | ) |   |   | 11,045 |   |   |
| Income before income taxes |   |                                         | 115,229   |   |   |   | 19,634 |   |   |   | 42,565 |   |   |   | 5,346 |   |   |   | 35,498 |   |   |   | 218,272 |   |   |
| Total assets               |   |                                         | 1,636,519 |   |   |   | 629,145 |   |   |   | 615,028 |   |   |   | 43,238 |   |   |   | (816,629 | ) |   |   | 2,107,301 |   |   |
| Capital expenditures       |   |                                         | 3,218     |   |   |   | 4,148 |   |   |   | 1,980 |   |   |   | 160 |   |   |   | 1,609 |   |   |   | 11,115 |   |   |

----

ITEM 2

----

----

----

|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |
|------------------------------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|---------|---------|--------|--------|--------|--------|--------|--------|-----------|--------|---------|--------|-----------|
|                                                       |   | For the three monthsended September 30, |    |   | For the nine monthsended September 30, |   |
|                                                       |   | 2009                                    |    |   | 2008                                   |   |    | %Change |   |   | 2009   |   |   | 2008   |      |   | %Change |   |      |
| REVENUES                                                   |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |
| Commissions and fees                                       |   | $                                       | 232,595 |   |                                   | $      | 234,036 |    |   |   | (0.6   | )%     |   | $      | 704,422   |   |    | $      | 684,640   |   |   |   | 2.9 | % |   |
| Profit-sharing contingent commissions                      |   |                                    | 10,421  |   |                                   |   | 9,730   |    |   |   | 7.1    | %      |   |   | 47,153    |   |    |   | 51,489    |   |   |   | (8.4 | )% |   |
| Investment income                                          |   |                                    | 175     |   |                                   |   | 1,228   |    |   |   | (85.7  | )%     |   |   | 945       |   |    |   | 5,136     |   |   |   | (81.6 | )% |   |
| Other income, net                                          |   |                                    | 575     |   |                                   |   | 2,035   |    |   |   | (71.1  | )%     |   |   | 1,195     |   |    |   | 4,199     |   |   |   | (71.5 | )% |   |
| Total revenues                                             |   |                                    | 243,766 |   |                                   |   | 247,029 |    |   |   | (1.3   | )%     |   |   | 753,715   |   |    |   | 745,464   |   |   |   | 1.1 | % |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| EXPENSES                                                   |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| Employee compensation and benefits                         |   |                                    | 119,607 |   |                                   |   | 122,172 |    |   |   | (2.1   | )%     |   |   | 369,573   |   |    |   | 363,873   |   |   |   | 1.6 | % |   |
| Non-cash stock-based compensation                          |   |                                    | 1,732   |   |                                   |   | 1,819   |    |   |   | (4.8   | )%     |   |   | 5,243     |   |    |   | 5,563     |   |   |   | (5.8 | )% |   |
| Other operating expenses                                   |   |                                    | 35,523  |   |                                   |   | 36,405  |    |   |   | (2.4   | )%     |   |   | 107,007   |   |    |   | 101,993   |   |   |   | 4.9 | % |   |
| Amortization                                               |   |                                    | 12,468  |   |                                   |   | 12,281  |    |   |   | 1.5    | %      |   |   | 37,372    |   |    |   | 34,789    |   |   |   | 7.4 | % |   |
| Depreciation                                               |   |                                    | 3,323   |   |                                   |   | 3,391   |    |   |   | (2.0   | )%     |   |   | 9,955     |   |    |   | 9,929     |   |   |   | 0.3 | % |   |
| Interest                                                   |   |                                    | 3,622   |   |                                   |   | 3,867   |    |   |   | (6.3   | )%     |   |   | 10,888    |   |    |   | 11,045    |   |   |   | (1.4 | )% |   |
| Total expenses                                             |   |                                    | 176,275 |   |                                   |   | 179,935 |    |   |   | (2.0   | )%     |   |   | 540,038   |   |    |   | 527,192   |   |   |   | 2.4 | % |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| Income before income taxes                                 |   |                                    | 67,491  |   |                                   |   | 67,094  |    |   |   | 0.6    | %      |   |   | 213,677   |   |    |   | 218,272   |   |   |   | (2.1 | )% |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| Income taxes                                               |   |                                    | 26,530  |   |                                   |   | 26,501  |    |   |   | 0.1    | %      |   |   | 84,036    |   |    |   | 85,521    |   |   |   | (1.7 | )% |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| NET INCOME                                                 |   | $                                       | 40,961  |   |                                   | $      | 40,593  |    |   |   | 0.9    | %      |   | $      | 129,641   |   |    | $      | 132,751   |   |   |   | (2.3 | )% |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| Net internal growth rate – core commissions and fees |   |                                    | (5.2    | )%     |                                   |   | (5.1    | )%      |   |   |   |   |   |   | (4.1      | )%     |    |   | (5.8      | )% |   |   |   |   |   |
| Employee compensation and benefits ratio                   |   |                                    | 49.1    | %      |                                   |   | 49.5    | %       |   |   |   |   |   |   | 49.0      | %      |    |   | 48.8      | % |   |   |   |   |   |
| Other operating expenses ratio                             |   |                                    | 14.6    | %      |                                   |   | 14.7    | %       |   |   |   |   |   |   | 14.2      | %      |    |   | 13.7      | % |   |   |   |   |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |      |   |   |   |   |   |   |
| Capital expenditures                                       |   | $                                       | 2,472   |   |                                   | $      | 2,921   |    |   |   |   |   |   | $      | 8,734     |   |    | $      | 11,115    |   |   |   |   |   |   |
| Total assets at September 30, 2009 and 2008                |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   | $      | 2,238,122 |   |    | $      | 2,107,301 |   |   |   |   |   |   |

----

----

----

|                            |   |                                    |    |   |   |   |    |            |   |   |              |    |   |                    |   |   |                |   |    |                |   |   |
|---------------------------------|--------|-----------------------------------------|---------|--------|--------|--------|---------|-----------------|--------|--------|-------------------|---------|--------|-------------------------|--------|--------|---------------------|--------|---------|---------------------|--------|--------|
| 2009                            |   | For the three monthsended September 30, |    |   |   |   |    |            |   |   |              |    |   |                    |   |   |                |   |
|                            |   | 2009                                    |    |   | 2008   |   |    | Total NetChange |   |   | Total NetGrowth % |    |   | LessAcquisitionRevenues |   |   | InternalNetGrowth $ |   |    | InternalNetGrowth % |   |
| Florida Retail                  |   | $                                       | 35,008  |   |   | $      | 40,025  |            |   | $      | (5,017            | )       |   |                    | (12.5  | )%     |                | $      | — |                |   | $      | (5,017 | ) |   |   | (12.5 | )% |
| National Retail                 |   |                                    | 80,962  |   |   |   | 77,217  |            |   |   | 3,745             |    |   |                    | 4.8    | %      |                |   | 7,394   |                |   |   | (3,649 | ) |   |   | (4.7 | )% |
| Western Retail                  |   |                                    | 26,279  |   |   |   | 26,774  |            |   |   | (495              | )       |   |                    | (1.8   | )%     |                |   | 2,725   |                |   |   | (3,220 | ) |   |   | (12.0 | )% |
| Total Retail(1)                 |   |                                    | 142,249 |   |   |   | 144,016 |            |   |   | (1,767            | )  |   |                    | (1.2   | )%     |                |   | 10,119  |                |   |   | (11,886 | ) |   |   | (8.3 | )% |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |    |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Wholesale Brokerage             |   |                                    | 34,809  |   |   |   | 36,491  |            |   |   | (1,682            | )       |   |                    | (4.6   | )%     |                |   | 277     |                |   |   | (1,959 | ) |   |   | (5.4 | )% |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |    |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Professional Programs           |   |                                    | 12,451  |   |   |   | 11,582  |            |   |   | 869               |    |   |                    | 7.5    | %      |                |   | — |                |   |   | 869 |   |   |   | 7.5 | % |
| Special Programs                |   |                                    | 34,790  |   |   |   | 33,433  |            |   |   | 1,357             |    |   |                    | 4.1    | %      |                |   | 892     |                |   |   | 465 |   |   |   | 1.4 | % |
| Total National Programs         |   |                                    | 47,241  |   |   |   | 45,015  |            |   |   | 2,226             |    |   |                    | 4.9    | %      |                |   | 892     |                |   |   | 1,334 |   |   |   | 3.0 | % |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |    |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Services                        |   |                                    | 8,296   |   |   |   | 7,917   |            |   |   | 379               |    |   |                    | 4.8    | %      |                |   | — |                |   |   | 379 |   |   |   | 4.8 | % |
| Total Core Commissions and Fees |   | $                                       | 232,595 |   |   | $      | 233,439 |            |   | $      | (844              | )  |   |                    | (0.4   | )%     |                | $      | 11,288  |                |   | $      | (12,132 | ) |   |   |   (5.2 |   )% |

|   | (1) | The Retail segment includes commissions and fees reported in the “Other” column of the Segment Information in Note 13 which includes corporate and consolidation items. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                  |   |                                    |    |   |   |   |
|--------|---------------------------------------|--------|-----------------------------------------|---------|--------|--------|--------|
|   |                                  |   | For the three monthsended September 30, |    |
|   |                                  |   | 2009                                    |    |   | 2008   |   |
|   | Total core commissions and fees       |   | $                                       | 232,595 |   |   | $      | 233,439 |   |
|   | Profit-sharing contingent commissions |   |                                    | 10,421  |   |   |   | 9,730 |   |
|   | Divested business                     |   |                                    | — |   |   |   | 597 |   |
|   | Total commission and fees        |   | $                                       | 243,016 |   |   | $      | 243,766 |   |

----

| 2008                            |   | For the three monthsended September 30, |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |
|---------------------------------|--------|-----------------------------------------|---------|--------|--------|--------|---------|-----------------|--------|--------|-------------------|--------|--------|-------------------------|--------|--------|---------------------|--------|
|                            |   | 2008                                    |    |   | 2007   |   |    | Total NetChange |   |   | Total NetGrowth % |   |   | LessAcquisitionRevenues |   |   | InternalNetGrowth $ |   |   | InternalNetGrowth % |   |
| Florida Retail                  |   | $                                       | 40,087  |   |   | $      | 39,088  |            |   | $      | 999               |   |   |                    | 2.6    | %      |                | $      | 4,620 |   |   | $ | (3,621 | ) |   |   | (9.3 | )% |
| National Retail                 |   |                                    | 77,172  |   |   |   | 60,958  |            |   |   | 16,214            |   |   |                    | 26.6   | %      |                |   | 16,802 |   |   |   | (588 | ) |   |   | (1.0 | )% |
| Western Retail                  |   |                                    | 27,293  |   |   |   | 23,752  |            |   |   | 3,541             |   |   |                    | 14.9   | %      |                |   | 5,473 |   |   |   | (1,932 | ) |   |   | (8.1 | )% |
| Total Retail(1)                 |   |                                    | 144,552 |   |   |   | 123,798 |            |   |   | 20,754            |   |   |                    | 16.8   | %      |                |   | 26,895 |   |   |   | (6,141 | ) |   |   | (5.0 | )% |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Wholesale Brokerage             |   |                                    | 36,491  |   |   |   | 39,328  |            |   |   | (2,837            | )      |   |                    | (7.2   | )%     |                |   | 3,831 |   |   |   | (6,668 | ) |   |   | (17.0 | )% |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Professional Programs           |   |                                    | 11,643  |   |   |   | 11,200  |            |   |   | 443               |   |   |                    | 4.0    | %      |                |   | - |   |   |   | 443 |   |   |   | 4.0 | % |
| Special Programs                |   |                                    | 33,433  |   |   |   | 30,411  |            |   |   | 3,022             |   |   |                    | 9.9    | %      |                |   | 210 |   |   |   | 2,812 |   |   |   | 9.2 | % |
| Total National Programs         |   |                                    | 45,076  |   |   |   | 41,611  |            |   |   | 3,465             |   |   |                    | 8.3    | %      |                |   | 210 |   |   |   | 3,255 |   |   |   | 7.8 | % |
|                            |   |                                    |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Services                        |   |                                    | 7,917   |   |   |   | 9,390   |            |   |   | (1,473            | )      |   |                    | (15.7  | )%     |                |   | - |   |   |   | (1,473 | ) |   |   | (15.7 | )% |
| Total Core Commissions and Fees |   | $                                       | 234,036 |   |   | $      | 214,127 |            |   | $      | 19,909            |   |   |                    | 9.3    | %      |                | $      | 30,936 |   |   | $ | (11,027 | ) |   |   | (5.1 | )% |

|   | (1) | The Retail segment includes commissions and fees reported in the “Other” column of the Segment Information in Note 13 which includes corporate and consolidation items. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                  |   |                                    |    |   |   |   |
|--------|---------------------------------------|--------|-----------------------------------------|---------|--------|--------|--------|
|   |                                  |   | For the three monthsended September 30, |    |
|   |                                  |   | 2008                                    |    |   | 2007   |   |
|   | Total core commissions and fees       |   | $                                       | 234,036 |   |   | $      | 214,127 |   |
|   | Profit-sharing contingent commissions |   |                                    | 9,730   |   |   |   | 8,875 |   |
|   | Divested business                     |   |                                    | — |   |   |   | 2,419 |   |
|   | Total commission and fees        |   | $                                       | 243,766 |   |   | $      | 225,421 |   |

----

|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |    |                |   |
|---------------------------------|--------|----------------------------------------|---------|--------|--------|--------|---------|-----------------|--------|--------|-------------------|--------|--------|-------------------------|--------|--------|---------------------|--------|---------|---------------------|--------|
| 2009                            |   | For the nine monthsended September 30, |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |
|                            |   | 2009                                   |    |   | 2008   |   |    | Total NetChange |   |   | Total NetGrowth % |   |   | LessAcquisitionRevenues |   |   | InternalNetGrowth $ |   |    | InternalNetGrowth % |   |
| Florida Retail                  |   | $                                      | 119,130 |   |   | $      | 126,586 |            |   | $      | (7,456            | )      |   |                    | (5.9   | )%     |                | $      | 6,203   |                |   | $ | (13,659 | ) |   |   | (10.8 | )% |
| National Retail                 |   |                                   | 237,346 |   |   |   | 220,976 |            |   |   | 16,370            |   |   |                    | 7.4    | %      |                |   | 28,182  |                |   |   | (11,812 | ) |   |   | (5.3 | )% |
| Western Retail                  |   |                                   | 76,218  |   |   |   | 71,549  |            |   |   | 4,669             |   |   |                    | 6.5    | %      |                |   | 14,758  |                |   |   | (10,089 | ) |   |   | (14.1 | )% |
| Total Retail(1)                 |   |                                   | 432,694 |   |   |   | 419,111 |            |   |   | 13,583            |   |   |                    | 3.2    | %      |                |   | 49,143  |                |   |   | (35,560 | ) |   |   | (8.5 | )% |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Wholesale Brokerage             |   |                                   | 110,680 |   |   |   | 117,739 |            |   |   | (7,059            | )      |   |                    | (6.0   | )%     |                |   | 1,359   |                |   |   | (8,418 | ) |   |   | (7.1 | )% |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Professional Programs           |   |                                   | 32,554  |   |   |   | 31,162  |            |   |   | 1,392             |   |   |                    | 4.5    | %      |                |   | — |                |   |   | 1,392 |   |   |   | 4.5 | % |
| Special Programs                |   |                                   | 103,854 |   |   |   | 88,645  |            |   |   | 15,209            |   |   |                    | 17.2   | %      |                |   | 1,206   |                |   |   | 14,003 |   |   |   | 15.8 | % |
| Total National Programs         |   |                                   | 136,408 |   |   |   | 119,807 |            |   |   | 16,601            |   |   |                    | 13.9   | %      |                |   | 1,206   |                |   |   | 15,395 |   |   |   | 12.8 | % |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |    |                |   |   |   |   |   |   |   |   |
| Services                        |   |                                   | 24,640  |   |   |   | 23,832  |            |   |   | 808               |   |   |                    | 3.4    | %      |                |   | — |                |   |   | 808 |   |   |   | 3.4 | % |
| Total Core Commissions and Fees |   | $                                      | 704,422 |   |   | $      | 680,489 |            |   | $      | 23,933            |   |   |                    | 3.5    | %      |                | $      | 51,708  |                |   | $ | (27,775 | ) |   |   | (4.1 | )% |

|   | (1) | The Retail segment includes commissions and fees reported in the “Other” column of the Segment Information in Note 13 which includes corporate and consolidation items. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                  |   |                                   |    |   |   |   |
|--------|---------------------------------------|--------|----------------------------------------|---------|--------|--------|--------|
|   |                                  |   | For the nine monthsended September 30, |    |
|   |                                  |   | 2009                                   |    |   | 2008   |   |
|   | Total core commissions and fees       |   | $                                      | 704,422 |   |   | $      | 680,489 |   |
|   | Profit-sharing contingent commissions |   |                                   | 47,153  |   |   |   | 51,489 |   |
|   | Divested business                     |   |                                   | — |   |   |   | 4,151 |   |
|   | Total commission and fees        |   | $                                      | 751,575 |   |   | $      | 736,129 |   |

----

| 2008                            |   | For the nine monthsended September 30, |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |
|---------------------------------|--------|----------------------------------------|---------|--------|--------|--------|---------|-----------------|--------|--------|-------------------|--------|--------|-------------------------|--------|--------|---------------------|--------|
|                            |   | 2008                                   |    |   | 2007   |   |    | Total NetChange |   |   | Total NetGrowth % |   |   | LessAcquisitionRevenues |   |   | InternalNetGrowth $ |   |   | InternalNetGrowth % |   |
| Florida Retail                  |   | $                                      | 127,528 |   |   | $      | 133,837 |            |   | $      | (6,309            | )      |   |                    | (4.7   | )%     |                | $      | 8,368 |   |   | $ | (14,677 | ) |   |   | (11.0 | )% |
| National Retail                 |   |                                   | 221,777 |   |   |   | 176,506 |            |   |   | 45,271            |   |   |                    | 25.6   | %      |                |   | 51,037 |   |   |   | (5,766 | ) |   |   | (3.3 | )% |
| Western Retail                  |   |                                   | 73,585  |   |   |   | 70,076  |            |   |   | 3,509             |   |   |                    | 5.0    | %      |                |   | 9,322 |   |   |   | (5,813 | ) |   |   | (8.3 | )% |
| Total Retail(1)                 |   |                                   | 422,890 |   |   |   | 380,419 |            |   |   | 42,471            |   |   |                    | 11.2   | %      |                |   | 68,727 |   |   |   | (26,256 | ) |   |   | (6.9 | )% |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Wholesale Brokerage             |   |                                   | 117,892 |   |   |   | 121,964 |            |   |   | (4,072            | )      |   |                    | (3.3   | )%     |                |   | 14,104 |   |   |   | (18,176 | ) |   |   | (14.9 | )% |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Professional Programs           |   |                                   | 31,381  |   |   |   | 30,718  |            |   |   | 663               |   |   |                    | 2.2    | %      |                |   | - |   |   |   | 663 |   |   |   | 2.2 | % |
| Special Programs                |   |                                   | 88,645  |   |   |   | 77,494  |            |   |   | 11,151            |   |   |                    | 14.4   | %      |                |   | 488 |   |   |   | 10,663 |   |   |   | 13.8 | % |
| Total National Programs         |   |                                   | 120,026 |   |   |   | 108,212 |            |   |   | 11,814            |   |   |                    | 10.9   | %      |                |   | 488 |   |   |   | 11,326 |   |   |   | 10.5 | % |
|                            |   |                                   |    |   |   |   |    |            |   |   |              |   |   |                    |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Services                        |   |                                   | 23,832  |   |   |   | 27,528  |            |   |   | (3,696            | )      |   |                    | (13.4  | )%     |                |   | - |   |   |   | (3,696 | ) |   |   | (13.4 | )% |
| Total Core Commissions and Fees |   | $                                      | 684,640 |   |   | $      | 638,123 |            |   | $      | 46,517            |   |   |                    | 7.3    | %      |                | $      | 83,319 |   |   | $ | (36,802 | ) |   |   | (5.8 | )% |

|   | (1) | The Retail segment includes commissions and fees reported in the “Other” column of the Segment Information in Note 13 which includes corporate and consolidation items. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                  |   |                                   |    |   |   |   |
|--------|---------------------------------------|--------|----------------------------------------|---------|--------|--------|--------|
|   |                                  |   | For the nine monthsended September 30, |    |
|   |                                  |   | 2008                                   |    |   | 2007   |   |
|   | Total core commissions and fees       |   | $                                      | 684,640 |   |   | $      | 638,123 |   |
|   | Profit-sharing contingent commissions |   |                                   | 51,489  |   |   |   | 55,678 |   |
|   | Divested business                     |   |                                   | — |   |   |   | 7,655 |   |
|   | Total commission and fees        |   | $                                      | 736,129 |   |   | $      | 701,456 |   |

----

|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |
|------------------------------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|---------|---------|--------|--------|--------|--------|--------|--------|-----------|--------|---------|--------|
|                                                       |   | For the three monthsended September 30, |    |   | For the nine monthsended September 30, |   |
|                                                       |   | 2009                                    |    |   | 2008                                   |   |    | %Change |   |   | 2009   |   |   | 2008   |      |   | %Change |   |
| REVENUES                                                   |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |
| Commissions and fees                                       |   | $                                       | 142,199 |   |                                   | $      | 144,909 |    |   |   | (1.9   | )%     |   | $      | 431,921   |   |    | $      | 422,599 |   |   |   | 2.2 | % |
| Profit-sharing contingent commissions                      |   |                                    | 2,198   |   |                                   |   | 1,795   |    |   |   | 22.5   | %      |   |   | 19,632    |   |    |   | 25,704 |   |   |   | (23.6 | )% |
| Investment income                                          |   |                                    | 69      |   |                                   |   | 129     |    |   |   | (46.5  | )%     |   |   | 221       |   |    |   | 878 |   |   |   | (74.8 | )% |
| Other income (loss), net                                   |   |                                    | 337     |   |                                   |   | (330    | )  |   |   | (202.1 | )%     |   |   | 192       |   |    |   | 1,778 |   |   |   | (89.2 | )% |
| Total revenues                                             |   |                                    | 144,803 |   |                                   |   | 146,503 |    |   |   | (1.2   | )%     |   |   | 451,966   |   |    |   | 450,959 |   |   |   | 0.2 | % |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |   |   |   |   |   |   |
| EXPENSES                                                   |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |   |   |   |   |   |   |
| Employee compensation and benefits                         |   |                                    | 72,045  |   |                                   |   | 73,604  |    |   |   | (2.1   | )%     |   |   | 222,605   |   |    |   | 217,961 |   |   |   | 2.1 | % |
| Non-cash stock-based compensation                          |   |                                    | 1,164   |   |                                   |   | 900     |    |   |   | 29.3   | %      |   |   | 3,533     |   |    |   | 2,719 |   |   |   | 29.9 | % |
| Other operating expenses                                   |   |                                    | 23,548  |   |                                   |   | 22,310  |    |   |   | 5.5    | %      |   |   | 73,342    |   |    |   | 68,725 |   |   |   | 6.7 | % |
| Amortization                                               |   |                                    | 7,473   |   |                                   |   | 7,268   |    |   |   | 2.8    | %      |   |   | 22,448    |   |    |   | 19,943 |   |   |   | 12.6 | % |
| Depreciation                                               |   |                                    | 1,506   |   |                                   |   | 1,559   |    |   |   | (3.4   | )%     |   |   | 4,567     |   |    |   | 4,518 |   |   |   | 1.1 | % |
| Interest                                                   |   |                                    | 7,703   |   |                                   |   | 8,285   |    |   |   | (7.0   | )%     |   |   | 24,214    |   |    |   | 21,864 |   |   |   | 10.7 | % |
| Total expenses                                             |   |                                    | 113,439 |   |                                   |   | 113,926 |    |   |   | (0.4   | )%     |   |   | 350,709   |   |    |   | 335,730 |   |   |   | 4.5 | % |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |   |   |   |   |   |   |
| Income before income taxes                                 |   | $                                       | 31,364  |   |                                   | $      | 32,577  |    |   |   | (3.7   | )%     |   | $      | 101,257   |   |    | $      | 115,229 |   |   |   | (12.1 | )% |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |   |   |   |   |   |   |
| Net internal growth rate – core commissions and fees |   |                                    | (8.3    | )%     |                                   |   | (5.0    | )%      |   |   |   |   |   |   | (8.5      | )%     |    |   | (6.9 | )% |   |   |   |   |
| Employee compensation and benefits ratio                   |   |                                    | 49.8    | %      |                                   |   | 50.2    | %       |   |   |   |   |   |   | 49.3      | %      |    |   | 48.3 | % |   |   |   |   |
| Other operating expenses ratio                             |   |                                    | 16.3    | %      |                                   |   | 15.2    | %       |   |   |   |   |   |   | 16.2      | %      |    |   | 15.2 | % |   |   |   |   |
|                                                       |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   |   |      |   |    |   |   |   |   |   |   |   |
| Capital expenditures                                       |   | $                                       | 621     |   |                                   | $      | 1,061   |    |   |   |   |   |   | $      | 2,722     |   |    | $      | 3,218 |   |   |   |   |   |
| Total assets at September 30, 2009 and 2008                |   |                                    |    |   |                                   |   |    |    |   |   |   |   |   | $      | 1,754,160 |   |    | $      | 1,636,519 |   |   |   |   |   |

----

|                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |
|------------------------------------------------------------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|---------|--------|---------|--------|
|                                                       |   | For the three monthsended September 30, |   |   | For the nine monthsended September 30, |   |
|                                                       |   | 2009                                    |   |   | 2008                                   |   |   | %Change |   |   | 2009   |   |   | 2008   |    |   | %Change |   |
| REVENUES                                                   |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |
| Commissions and fees                                       |   | $                                       | 34,809 |   |                                   | $      | 36,491 |    |   |   | (4.6   | )%     |   | $      | 110,680 |   |    | $      | 117,892 |   |   |   | (6.1 | )% |
| Profit-sharing contingent commissions                      |   |                                    | 8,130  |   |                                   |   | 7,833  |    |   |   | 3.8    | %      |   |   | 15,284  |   |    |   | 17,969 |   |   |   | (14.9 | )% |
| Investment income                                          |   |                                    | 9      |   |                                   |   | 399    |    |   |   | (97.7  | )%     |   |   | 56      |   |    |   | 1,223 |   |   |   | (95.4 | )% |
| Other income, net                                          |   |                                    | 128    |   |                                   |   | 64     |    |   |   | 100.0  | %      |   |   | 497     |   |    |   | 385 |   |   |   | 29.1 | % |
| Total revenues                                             |   |                                    | 43,076 |   |                                   |   | 44,787 |    |   |   | (3.8   | )%     |   |   | 126,517 |   |    |   | 137,469 |   |   |   | (8.0 | )% |
|                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |   |   |   |   |   |   |
| EXPENSES                                                   |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Employee compensation and benefits                         |   |                                    | 20,612 |   |                                   |   | 21,819 |    |   |   | (5.5   | )%     |   |   | 62,077  |   |    |   | 67,358 |   |   |   | (7.8 | )% |
| Non-cash stock-based compensation                          |   |                                    | 243    |   |                                   |   | 220    |    |   |   | 10.5   | %      |   |   | 744     |   |    |   | 617 |   |   |   | 20.6 | % |
| Other operating expenses                                   |   |                                    | 8,429  |   |                                   |   | 9,603  |    |   |   | (12.2  | )%     |   |   | 24,334  |   |    |   | 26,289 |   |   |   | (7.4 | )% |
| Amortization                                               |   |                                    | 2,562  |   |                                   |   | 2,613  |    |   |   | (2.0   | )%     |   |   | 7,679   |   |    |   | 7,646 |   |   |   | 0.4 | % |
| Depreciation                                               |   |                                    | 728    |   |                                   |   | 725    |    |   |   | 0.4    | %      |   |   | 2,164   |   |    |   | 2,169 |   |   |   | (0.2 | )% |
| Interest                                                   |   |                                    | 3,483  |   |                                   |   | 4,443  |    |   |   | (21.6  | )%     |   |   | 10,932  |   |    |   | 13,756 |   |   |   | (20.5 | )% |
| Total expenses                                             |   |                                    | 36,057 |   |                                   |   | 39,423 |    |   |   | (8.5   | )%     |   |   | 107,930 |   |    |   | 117,835 |   |   |   | (8.4 | )% |
|                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Income before income taxes                                 |   | $                                       | 7,019  |   |                                   | $      | 5,364  |    |   |   | 30.9   | %      |   | $      | 18,587  |   |    | $      | 19,634 |   |   |   | (5.3 | )% |
|                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Net internal growth rate – core commissions and fees |   |                                    | (5.4   | )%     |                                   |   | (17.0  | )%      |   |   |   |   |   |   | (7.1    | )%     |    |   | (14.9 | )% |   |   |   |   |
| Employee compensation and benefits ratio                   |   |                                    | 47.9   | %      |                                   |   | 48.7   | %       |   |   |   |   |   |   | 49.1    | %      |    |   | 49.0 | % |   |   |   |   |
| Other operating expenses ratio                             |   |                                    | 19.6   | %      |                                   |   | 21.4   | %       |   |   |   |   |   |   | 19.2    | %      |    |   | 19.1 | % |   |   |   |   |
|                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Capital expenditures                                       |   | $                                       | 654    |   |                                   | $      | 886    |    |   |   |   |   |   | $      | 2,538   |   |    | $      | 4,148 |   |   |   |   |   |
| Total assets at September 30, 2009 and 2008                |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   | $      | 618,801 |   |    | $      | 629,145 |   |   |   |   |   |

----

|                                                                           |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |
|--------------------------------------------------------------------------------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|--------|---------|--------|--------|--------|--------|--------|--------|---------|--------|---------|--------|---------|
|                                                                           |   | For the three monthsended September 30, |   |   | For the nine monthsended September 30, |   |
|                                                                           |   | 2009                                    |   |   | 2008                                   |   |   | %Change |   |   | 2009   |   |   | 2008   |    |   | %Change |   |    |
| REVENUES                                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |
| Commissions and fees                                                           |   | $                                       | 47,241 |   |                                   | $      | 45,076 |    |   |   | 4.8    | %      |   | $      | 136,408 |   |    | $      | 120,026 |   |   |   | 13.6 | % |   |
| Profit-sharing contingent commissions                                          |   |                                    | 93     |   |                                   |   | 102    |    |   |   | (8.8   | )%     |   |   | 12,237  |   |    |   | 7,816   |   |   |   | 56.6 | % |   |
| Investment income                                                              |   |                                    | 1      |   |                                   |   | 77     |    |   |   | (98.7  | )%     |   |   | 3       |   |    |   | 263     |   |   |   | (98.9 | )% |   |
| Other income (loss), net                                                       |   |                                    | 8      |   |                                   |   | (15    | )  |   |   | (153.3 | )%     |   |   | 8       |   |    |   | 36      |   |   | (77.8 | )% |   |
| Total revenues                                                                 |   |                                    | 47,343 |   |                                   |   | 45,240 |    |   |   | 4.6    | %      |   |   | 148,656 |   |    |   | 128,141 |   |   |   | 16.0 | % |   |
|                                                                           |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |   |   |   |   |   |   |
| EXPENSES                                                                       |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |   |   |   |   |   |   |
| Employee compensation and benefits                                             |   |                                    | 18,319 |   |                                   |   | 17,678 |    |   |   | 3.6    | %      |   |   | 55,379  |   |    |   | 50,229  |   |   |   | 10.3 | % |   |
| Non-cash stock-based compensation                                              |   |                                    | 259    |   |                                   |   | 198    |    |   |   | 30.8   | %      |   |   | 772     |   |    |   | 600     |   |   |   | 28.7 | % |   |
| Other operating expenses                                                       |   |                                    | 7,506  |   |                                   |   | 6,882  |    |   |   | 9.1    | %      |   |   | 20,821  |   |    |   | 20,015  |   |   |   | 4.0 | % |   |
| Amortization                                                                   |   |                                    | 2,308  |   |                                   |   | 2,275  |    |   |   | 1.5    | %      |   |   | 6,870   |   |    |   | 6,825   |   |   |   | 0.7 | % |   |
| Depreciation                                                                   |   |                                    | 706    |   |                                   |   | 695    |    |   |   | 1.6    | %      |   |   | 2,030   |   |    |   | 2,017   |   |   |   | 0.6 | % |   |
| Interest                                                                       |   |                                    | 1,348  |   |                                   |   | 1,834  |    |   |   | (26.5  | )%     |   |   | 4,209   |   |    |   | 5,890   |   |   |   | (28.5 | )% |   |
| Total expenses                                                                 |   |                                    | 30,446 |   |                                   |   | 29,562 |    |   |   | 3.0    | %      |   |   | 90,081  |   |    |   | 85,576  |   |   |   | 5.3 | % |   |
|                                                                           |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |   |   |   |   |   |   |
| Income before income taxes                                                     |   | $                                       | 16,897 |   |                                   | $      | 15,678 |    |   |   | 7.8    | %      |   | $      | 58,575  |   |    | $      | 42,565  |   |   |   | 37.6 | % |   |
|                                                                           |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |   |   |   |   |   |   |
| Net internal growth rate – core commissions and fees                     |   |                                    | 3.0    | %      |                                   |   | 7.8    | %       |   |   |   |   |   |   | 12.8    | %      |    |   | 10.5    | % |   |   |   |   |   |
| Employee compensation and benefits ratio                                       |   |                                    | 38.7   | %      |                                   |   | 39.1   | %       |   |   |   |   |   |   | 37.3    | %      |    |   | 39.2    | % |   |   |   |   |   |
| Other operating expenses ratio                                                 |   |                                    | 15.9   | %      |                                   |   | 15.2   | %       |   |   |   |   |   |   | 14.0    | %      |    |   | 15.6    | % |   |   |   |   |   |
|                                                                           |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   |   |    |   |    |   |    |   |   |   |   |   |   |
| Capital expenditures                                                           |   | $                                       | 1,045  |   |                                   | $      | 612    |    |   |   |   |   |   | $      | 3,238   |   |    | $      | 1,980   |   |   |   |   |   |   |
| Total assets at September 30,      2009 and 2008 |   |                                    |   |   |                                   |   |   |    |   |   |   |   |   | $      | 697,402 |   |    | $      | 615,028 |   |   |   |   |   |   |

----

|                                                       |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |
|------------------------------------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|--------|---------|--------|--------|---------|--------|--------|--------|---------|--------|---------|--------|
|                                                       |   | For the three monthsended September 30, |    |   | For the nine monthsended September 30, |   |
|                                                       |   | 2009                                    |    |   | 2008                                   |   |   | %Change |   |   | 2009    |   |   | 2008   |    |   | %Change |   |
| REVENUES                                                   |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |
| Commissions and fees                                       |   | $                                       | 8,296   |   |                                   | $      | 7,917  |    |   |   | 4.8     | %      |   | $      | 24,640  |   |    | $      | 23,832 |   |   |   | 3.4 | % |
| Profit-sharing contingent commissions                      |   |                                    | — |   |                                   |   | -      |    |   |   | — | %      |   |   | — |   |    |   | - |   |   |   | — | % |
| Investment income                                          |   |                                    | 6       |   |                                   |   | 7      |    |   |   | (14.3   | )%     |   |   | 18      |   |    |   | 6 |   |   | 200.0 | %  |
| Other income (loss), net                                   |   |                                    | (2      | )      |                                   |   | (4     | )  |   |   | (50.0   | )%     |   |   | (3      | )      |    |   | (7 | )  |   |   | (57.1 | )% |
| Total revenues                                             |   |                                    | 8,300   |   |                                   |   | 7,920  |    |   |   | 4.8     | %      |   |   | 24,655  |   |    |   | 23,831 |   |   |   | 3.5 | % |
|                                                       |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |   |   |   |   |   |   |
| EXPENSES                                                   |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Employee compensation and benefits                         |   |                                    | 4,767   |   |                                   |   | 4,437  |    |   |   | 7.4     | %      |   |   | 14,221  |   |    |   | 13,474 |   |   |   | 5.5 | % |
| Non-cash stock-based compensation                          |   |                                    | 41      |   |                                   |   | 35     |    |   |   | 17.1    | %      |   |   | 123     |   |    |   | 105 |   |   |   | 17.1 | % |
| Other operating expenses                                   |   |                                    | 1,289   |   |                                   |   | 1,270  |    |   |   | 1.5     | %      |   |   | 3,705   |   |    |   | 3,684 |   |   |   | 0.6 | % |
| Amortization                                               |   |                                    | 115     |   |                                   |   | 115    |    |   |   | — | %      |   |   | 346     |   |    |   | 346 |   |   |   | — | % |
| Depreciation                                               |   |                                    | 75      |   |                                   |   | 97     |    |   |   | (22.7   | )%     |   |   | 263     |   |    |   | 317 |   |   |   | (17.0 | )% |
| Interest                                                   |   |                                    | 155     |   |                                   |   | 193    |    |   |   | (19.7   | )%     |   |   | 514     |   |    |   | 559 |   |   |   | (8.1 | )% |
| Total expenses                                             |   |                                    | 6,442   |   |                                   |   | 6,147  |    |   |   | 4.8     | %      |   |   | 19,172  |   |    |   | 18,485 |   |   |   | 3.7 | % |
|                                                       |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Income before income taxes                                 |   | $                                       | 1,858   |   |                                   | $      | 1,773  |    |   |   | 4.8     | %      |   | $      | 5,483   |   |    | $      | 5,346 |   |   |   | 2.6 | % |
|                                                       |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Net internal growth rate – core commissions and fees |   |                                    | 4.8     | %      |                                   |   | (15.7  | )%      |   |   |    |   |   |   | 3.4     | %      |    |   | (13.4 | )% |   |   |   |   |
| Employee compensation and benefits ratio                   |   |                                    | 57.4    | %      |                                   |   | 56.0   | %       |   |   |    |   |   |   | 57.7    | %      |    |   | 56.5 | % |   |   |   |   |
| Other operating expenses ratio                             |   |                                    | 15.5    | %      |                                   |   | 16.0   | %       |   |   |    |   |   |   | 15.0    | %      |    |   | 15.5 | % |   |   |   |   |
|                                                       |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   |   |    |   |    |   |   |   |   |   |   |   |
| Capital expenditures                                       |   | $                                       | 33      |   |                                   | $      | 34     |    |   |   |    |   |   | $      | 120     |   |    | $      | 160 |   |   |   |   |   |
| Total assets at September 30, 2009 and 2008                |   |                                    |    |   |                                   |   |   |    |   |   |    |   |   | $      | 46,396  |   |    | $      | 43,238 |   |   |   |   |   |

----

|                                            |   |                   |    |   |            |   |    |      |   |   |      |   |   |         |    |   |
|-------------------------------------------------|--------|------------------------|---------|--------|-----------------|--------|---------|-----------|--------|--------|-----------|--------|--------|--------------|---------|--------|
|                                            |   | Payments Due by Period |    |
| (in thousands)                                  |   | Total                  |    |   | Less Than1 Year |   |    | 1-3 Years |   |   | 4-5 Years |   |   | After 5Years |    |   |
|                                            |   |                   |    |   |            |   |    |      |   |   |      |   |   |         |    |   |   |   |   |   |   |
| Long-term debt                                  |   | $                      | 262,051 |   |            | $      | 11,462  |      |   | $      | 100,589   |   |   | $            | 100,000 |   |   | $ | 50,000 |   |   |
| Capital lease obligations                       |   |                   | 2       |   |            |   | 2       |      |   |   | —   |   |   |         | — |   |   |   | — |   |   |
| Other long-term liabilities                     |   |                   | 16,898  |   |            |   | 9,225   |      |   |   | 5,678     |   |   |         | 763     |   |   |   | 1,232 |   |   |
| Operating leases                                |   |                   | 92,472  |   |            |   | 26,171  |      |   |   | 36,478    |   |   |         | 17,923  |   |   |   | 11,900 |   |   |
| Interest obligations                            |   |                   | 57,411  |   |            |   | 14,448  |      |   |   | 23,014    |   |   |         | 16,408  |   |   |   | 3,541 |   |   |
| Unrecognized tax benefits                       |   |                   | 635     |   |            |   | — |      |   |   | 635       |   |   |         | — |   |   |   | — |   |   |
| Maximum future acquisition contingency payments |   |                   | 182,966 |   |            |   | 67,933  |      |   |   | 114,684   |   |   |         | 349     |   |   |   | — |   |   |
| Total contractual cash obligations              |   | $                      | 612,435 |   |            | $      | 129,241 |      |   | $      | 281,078   |   |   | $            | 135,443 |   |   | $ | 66,673 |   |   |

----

ITEM 3. QUANTITATIVE

ITEM 4. CONTROLS AND PROCEDURES

----

PART II

ITEM 1. LEGAL PROCEEDINGS

ITEM 1A. RISK FACTORS

ITEM 6. EXHIBITS

|   |                                                                                                                                                                                                                                                                                                                     |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1    | Articles of Amendment to Articles of Incorporation (adopted April 24, 2003) (incorporated by reference to Exhibit 3a to Form 10-Q for the quarter ended March 31, 2003), and Amended and Restated Articles of Incorporation (incorporated by reference to Exhibit 3a to Form 10-Q for the quarter ended March 31, 1999). |
|   |                                                                                                                                                                                                                                                                                                                     |
| 3.2    | Bylaws (incorporated by reference to Exhibit 3b to Form 10-K for the year ended December 31, 2002).                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                     |
| 10.1   | Employment Agreement with J. Hyatt Brown, dated and effective as of July 1, 2009 (incorporated by reference to Exhibit 10.1 to Form 10-Q for the quarter ended June 30, 2009).                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                     |
| 10.2   | Registrant’s Stock Performance Plan, as amended.                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                     |
| 10.3   | Letter Amendment, dated September 30, 2009, to the Master Agreement (incorporated by reference to Exhibit 10.1 from Form 8-K filed on October 5, 2009).                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                     |
| 31.1   | Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer of the Registrant.                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                     |
| 31.2   | Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer of the Registrant.                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                     |
| 32.1   | Section 1350 Certification by the Chief Executive Officer of the Registrant.                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                     |
| 32.2   | Section 1350 Certification by the Chief Financial Officer of the Registrant.                                                                                                                                                                                                                                             |

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SIGNATURE

|                   |                                                                                    |   |
|------------------------|-----------------------------------------------------------------------------------------|--------|
|                   | BROWN & BROWN, INC.                                                                 |
|                   |                                                                                    |
|                   | /s/ CORY T. WALKER                                                                      |   |
| Date: November 6, 2009 | Cory T. Walker                                                                          |
|                   | Sr. Vice President, Chief Financial Officer and Treasurer                               |
|                   | (duly authorized officer, principal financial officer and principal accounting officer) |