Brown & Brown steps up share repurchase pace

US intermediary Brown & Brown plans to accelerate the
repurchase of $50mn shares under an existing buyback authority
established two years ago.
Brown & Brown did not set a timeframe for the accelerated
buyback. The Daytona Beach, Florida-based broker said that its
directors authorised $400mn in repurchases in July 2015, adding to
$50mn that remained from a previous buyback plan.
The company has steadily returned cash to investors through
repurchases, buying 261,615 shares at an average p