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Gallagher reports higher brokerage revenue, lower net income


ITASCA, Ill.—Arthur J. Gallagher & Co. Inc. posted total revenue of $2.13 billion in 2011, a 14.5% increase over a year earlier.

Gallagher on Tuesday reported brokerage revenue of $1.56 billion in 2011, a 16.4% increase over the previous year. Brokerage revenue in the fourth quarter of 2011 rose 22.3% to $413.4 million from a year earlier.

Revenue from the risk management segment rose 18.8% to $548.8 million in 2011. Risk management revenue for the fourth quarter rose 13.1% to $145.7 million, the Itasca, Ill.-based insurance broker said.

While its revenue increased, Gallagher's net earnings for the year dropped 17.2% to $144.1 million.

“We finished 2011 with strong momentum,” Gallagher Chairman, President and CEO J. Patrick Gallagher said in a statement. He said both operating segments posted strong organic growth during the fourth quarter.

“During the fourth quarter, we continued to see evidence of market firming and our customers' businesses seem to be stabilizing, even in these times of economic uncertainty,” Mr. Gallagher said. “As we move into 2012, our global team continues to execute on our plans and are delivering outstanding service to our clients in this changing environment.”