Arthur J. Gallagher & Co.'s second-quarter 2015 revenue increased 16.3% to $1.37 billion, a reflection of strong organic and acquisition growth, the broker said.

Net income increased 29.8% to $147.6 million, Gallagher said Tuesday in its earnings statement.

Revenue in the brokerage segment increased 20.0% over the prior-year quarter to $885.6 million, with commission revenue up 17.6% to $634.3 million and fees up 22.9% to $178.0 million.

Gallagher reported total organic growth of 4.0%.

Second-quarter highlights included another 11 acquisitions for the brokerage segment — the same number as the first quarter of 2015 — with annualized revenue of over $82 million from this quarter's acquisitions, according to the statement. In addition, two acquisitions in the risk management segment realized annualized revenue of over $8 million, the statement said.

“We had another excellent quarter, reflecting our strong organic and acquisition growth as well as our productivity-improvement efforts,” said J. Patrick Gallagher Jr., chairman, president and CEO, in the statement.

First-half 2015 revenue was $2.60 billion, up 24.3% from last year's first half. Profit for the first six months was $180.0 million, a 5.0% increase over the prior-year period. Broker segment revenue increased by 25.7% over the first half of 2014 to $1.64 billion, with commission revenue up 21.4% to $1.15 billion and fees up 36.1% to $324.1 million.

When asked during Wednesday's conference call how Gallagher can be so successful with its number of acquisitions amid increased pricing, Mr. Gallagher said, “Private equity has come strongly into our business. It consumes half the acquisition activity that occurs … and when you get to sizable platform acquisitions, pricing is up. We've done 24 acquisitions for $120 million in total revenue. Tuck-in acquisitions are very prevalent and not as pricey, and we continue to see great success in our regard — and I don't see our pipeline diminishing one bit.”