You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Q2 was a very strong quarter, and it's the best in the history of Brown & Brown.
Our performance for the first six months of 2021 is due to the tremendous effort of our talented 11,000-plus teammates that deliver creative risk management solutions for our customers.
Each of our segments delivered impressive results with strong top and bottom line growth due to more new business, good customer retention, increased premium rates across most lines of coverage, and higher exposure units driven by continued economic expansion.
These results reflect the strength and diversity of our operating model as well as the power of a performance-based culture.
Now let's transition to the results for the quarter.
I'm on slide number three.
We delivered $727 million of revenue, growing 21.5% in total and 14.7% organically.
This is the strongest organic growth that we've ever delivered.
I'll get into more details in a few minutes about the performance of our segments.
Our EBITDAC margin was 32.9%, which is up 340 basis points from the second quarter of 2020.
Our net income per share for the second quarter was $0.49, increasing 44% on an as-reported and adjusted basis, with the latter excluding the change in estimated acquisition earn-out payables.
In summary, we're very pleased with our strong performance and believe we're well-positioned to continue delivering best-in-class solutions for our customers.
I'm on slide four.
Let's start with the economy and what we saw during the quarter.
As companies continue to reopen and strengthen, business confidence is improving.
However, not all companies are back at 100%, and we continue to hear about struggles with certain customer segments in hiring workers.
We think this will work itself out over the coming months and quarters, but these open roles are serving as a bit of a governor on the speed of recovery.
Due to this uncertainty, customers remain very focused on their insurance spend and therefore managing their deductibles and aggregate limits.
Rates were generally in line with what we experienced in the first quarter.
However, we started to see some moderation to the level of increases in certain admitted and non-admitted lines.
Certain customers and industries with high losses remain a placement challenge.
However, we continue to see carriers seeking higher rate increases on renewal business while quoting at or below expiring rates for new business of a similar risk profile.
Admitted rates continue to be up 3% to 7% across most lines.
the outliers are workers' compensation rates which remain down 1% to 3% and commercial auto rates which were up 5% to 10%.
From an E&S perspective, most rates are up 10% to 20%.
Coastal property, both wind and quake, are up 15% to 25%.
However, near the end of the quarter, we started to see less upward rate pressure on renewals.
Professional liability for most accounts remains challenging, the SPAC market in particular.
Professional liability rates are generally up 10% to 25%-plus, cyber rates are generally up 10% to 20%-plus, with increased underwriting questions and some reduction in coverage availability.
Also, excess umbrella coverage remains very difficult to place.
For both of these lines, we're seeing carriers reduce overall limits while seeking significant rate increases.
In the E&S space, California and Florida personal lines continues to be the most challenging.
The appetite for personal lines in CAT areas will continue to be constrained through at least the end of '21.
From an M&A perspective, we closed two transactions during the quarter with the annual revenues of, approximately, $11 million.
Our pipeline remains full, and we feel good about the level of activity engagement with prospective sellers.
Slide five, let's discuss the performance of our four segments.
Retail delivered an outstanding organic growth of 17.6% for the second quarter.
The performance was driven by growth across all lines of business and most customer segment through a combination of strong new business, good retention, rate increases, and higher exposure units as a result of the economic recovery.
National Programs grew 13.3% organically, delivering another great quarter.
Our growth was driven by strong performance from most programs due to robust new business, good retention, and rate increases.
The Wholesale Brokerage segment delivered a solid quarter with 12.3% organic growth.
Brokerage continues to perform very well, delivering strong growth in new business and realizing continued rate increases for most lines of coverage.
Binding Authority had a good quarter, driven by new business and continued economic recovery and personal lines in California and Florida remain very difficult to place, and we don't expect carrier appetite to change in the second half of the year.
The Services segment had a good quarter and delivered organic revenue growth of 4.6%, primarily driven by claims processing revenue.
The growth for the quarter was partially offset by continued headwinds within the Advocacy businesses, primarily the Social Security space.
Overall, it was a very strong quarter across the board.
Like previous quarters, we'll discuss our GAAP results and certain non-GAAP financial highlights.
We're on slide number six.
For the second quarter, we delivered total revenue growth of $128.5 million or 21.5% and organic revenue growth of 14.7%.
EBITDAC increased by 35.4%, which expanded EBITDAC margin by 340 basis points, despite lower margin associated with certain acquisitions completed in the past few quarters and slightly higher travel costs.
The EBITDAC growth was driven by the continued leveraging of our expense base and lower non-cash stock-based compensation.
Income before income taxes increased by 44%, growing faster than EBITDAC due to a lower growth rate in amortization and interest expense, as well as a decrease in acquisition earn-out payables.
Net income increased by $42.5 million or 43.9% and our diluted net income per share increased by 44.1% to $0.49.
The effective tax rate for the second quarter of this year and last year was 25.2%.
We continue to anticipate our full-year effective tax rate for 2021 will be in the 23% to 24% range.
Our weighted average number of shares increased slightly compared to the prior year and our dividends per share increased to $0.093 or 9.4% compared to the second quarter of 2020.
Moving over on slide number seven.
This slide presents our results after the adjustment to remove the change in estimated acquisition earn-out payables for both years.
For the second quarter of this year and last year, the impact was minimal with the adjusted and as-reported diluted net income per share of $0.49 growing 44.1% over the prior year.
Moving over to slide number eight.
This slide presents the key components of our revenue performance.
For the quarter, our total commissions and fees increased by 21.3% and our contingent commissions and GSCs increased by 2.2%.
Organic revenue, which excludes the net impact of M&A activity and changes in foreign exchange rates, increased by 14.7%.
Over to slide number nine.
The Retail segment delivered total revenue growth of 28.3%, driven by acquisition activity over the past 12 months and organic revenue growth of 17.6%, which was driven by growth across all lines of business.
Organic growth for the quarter was positively impacted by, approximately, 300 basis points due to the $8 million adjustment recorded in the second quarter of last year for the economic disruption associated with the pandemic.
EBITDAC margin for the quarter increased by 510 basis points and EBITDAC grew 55.1% due to the leveraging of higher organic revenue along with a gain on disposal associated with the sale of certain books of business.
The growth was partially offset by recent acquisitions that have margins lower than the average, higher non-cash stock-based compensation, and slightly higher travel cost.
Income before income tax margin increased 580 basis points, growing faster than EBITDAC, driven primarily by amortization and intercompany interest expense growing at a slower rate than EBITDAC.
Moving over to slide number 10.
Our National Programs segment increased total revenue by 14% and organic revenue by 13.3%.
Regarding outlook for the last two quarters of 2021, we wanted to highlight that we anticipate approximately $4 million to $6 million of revenue shifting from the third quarter to the fourth quarter due to renewal timing for certain accounts.
EBITDAC increased by $7.9 million or 12.6%, growing slightly slower than total revenues due to incremental costs associated with onboarding new customers, increased non-cash stock-based compensation, and slightly higher variable cost.
Income before income taxes increased by $18.4 million or 38%, growing faster than EBITDAC, primarily due to lower estimated acquisition earn-outs payable and lower intercompany interest expense.
Over to slide number 11.
The Wholesale Brokerage segment delivered total revenue growth of 17.7% driven by acquisitions in the past 12 months and organic revenue growth of 12.3%.
EBITDAC grew by 19.1% with a margin increase of 40 basis points, even with lower guaranteed supplemental commissions, slightly higher variable operating expenses, and incremental non-cash stock-based compensation.
Income before income taxes grew by 6.9%, which was slower than total revenue growth primarily due to higher intercompany interest expense and a change in estimated acquisition earn-out payables.
Over on Slide 12.
Our Services segment increased total revenue and organic revenue by 4.6%.
Regarding outlook, we anticipate organic revenue growth to be flat or down slightly for the second half of the year due to continued headwinds in processing claims by the Social Security Administration.
For the quarter, EBITDAC grew by 9.8% driven primarily by leveraging organic revenue growth.
Income before income taxes increased by 19.8%, growing faster than EBITDAC due to lower intercompany interest expense and amortization.
A few comments regarding liquidity and cash conversion for the quarter.
We experienced another strong quarter of cash flow generation and have delivered $466 million of cash flow from operations through the first six months of 2021, growing $50 million or 12% as compared to the first six months of 2020.
Our ratio of cash flow from operations as a percentage of total revenue remained strong at 30.2% for the first six months of 2021.
With the combination of our cash generation and capital availability, we are well positioned to fund continued growth.
From an economic standpoint, we continue to believe the economy will improve over the coming quarters.
This should drive increased confidence among business owners and how they invest in their companies.
A few items we believe will impact the speed and trajectory of the economy are, in no particular order: one, the ability to hire workers in certain industries; two, supply chain issues that continue to constrain production and sales; three, the spread of and response to the delta variant; and four, the impact of inflation.
How these play out will influence the bumps in the road to recovery.
At this stage, we believe there should be further economic improvement throughout the remainder of '21 and into 2022 but not at the same pace experienced in the second quarter.
As a result, we anticipate some moderation of our organic revenue growth during the back half of the year compared to what we delivered in the first half.
As it relates to the underwriting process, we continue to anticipate our carrier partners to be competitive for new business and accounts with low losses.
We also expect rate increases will be fairly similar to the first half of the year with maybe some moderation.
From an M&A perspective, we believe the market will remain very active.
There are a lot of companies looking to do transactions, and we feel that we are well positioned with a good pipeline to attract great companies to join the Brown & Brown team.
We will continue to follow our disciplined approach of focusing on culture and financial alignment as these have been the key to our long-term success in delivering shareholder value.
We've been talking over the last few earnings calls about our technology initiatives and how these are advancing.
We're very pleased with our progress and the teams are doing a great job.
Our holistic focus is to improve the experience for our customers, carrier partners, and teammates.
To achieve this goal, we have prioritized the following areas: optimize and enhance our utilization of data and analytics; expand our digital delivery capabilities around products and services; and engage in initiatives designed to drive greater efficiency and velocity through our underwriting processes.
In summary, we couldn't be happier with the financial performance of the second quarter and the first half of the year.
The results are just outstanding.
Our team is doing an incredible job of leveraging our wide-ranging capabilities to win new customers and retain our existing customers.
We're well positioned to continue delivering good profitable growth.

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compname announces quarterly revenues of $727.3 million, an increase of 21.5%, and diluted net income per share of $0.49.
q2 earnings per share $0.49.

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