Arthur J. Gallagher reports 14.9% increase in revenue for nine months
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Arthur J. Gallagher & Co.’s total revenue grew 14.9% to $1.76 billion for nine months ending Sept. 30.
Brokerage revenue for the Itasca, Ill.-based firm grew 17.4% to $1.3 billion for the nine-month period, while risk management revenue rose 7.6%. Net earnings for the period were $161.5 million, a 55.9% increase compared with the first nine months of 2011.
On a quarterly basis, total revenue grew 11.7 % to $619.3 million, with brokerage revenue growing 13.7% to $479.7 million and risk management revenue rising 5.6% to $22.6 million. Net earnings for the quarter rose 32.1% to $61.7 million.
“Our third quarter was another strong quarter,” Arthur J. Gallagher & Co. Chairman, President and CEO J. Patrick Gallagher Jr. said in a statement, noting the firm achieved a 4.2% increase in organic growth for the quarter. “The rate environment continues to improve and portions of the economy continue to show improvement.”
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