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Gallagher's profit jump in the first quarter



Net result of Arthur J. Gallagher & Co. increased by 23.0% from the previous quarter to $ 351.7 million, as revenue also increased, 8.32% to $ 1.99 billion, the company's income statement says Thursday after the markets.

In addition to the broker's organic sales growth, investment income and net gains in disposals increased sharply to $ 75.4 million from $ 16.3 million a year ago, according to financial data.

Organic growth in the company's core broker and risk management segment was 5.5%, J. Patrick Gallagher Jr., chairman, CEO and CEO, said on the broker's earnings report Thursday.

Organic growth was "solid" across all divisions globally, he said with US retail organic growth "around 6%."

Domestic retail / accident rate was positive across all major business sectors, except employee compensation, he said.

In the UK, organic growth was "about 5%" and the retail / accident price was on average 3%, Gallagher says, while Australian and New Zealand delivered organic growth of "about 8%."

"As we look forward to 201

9, the organic broker base commission is organized and the fee is organic as it will be about 5", says Gallagher.

In the case of mergers and acquisitions, Gallagher said the broker had completed 11 mergers and acquisitions of brokers, which would increase approximately $ 70 million in annual revenue.

So far in the second quarter, the broker has completed three mergers and acquisitions of brokers.

Gallagher's merger and acquisition pipeline, Gallagher says, is "very full" with about $ 350 million in revenue represented by about 60 installments agreed or prepared, even though he warned the broker "will not complete all of these mergers."

                    


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