Arthur J Gallagher’s revenues up in Q2, CEO “optimistic”

Arthur J Gallagher's revenue for the brokerage segment in the second quarter was $998.1 million, an increase from $939.1 million year-on-year.

The revenue for the risk management segment was $188.7 million, an increase from $176.5 million year-on-year.

The brokerage segment's net earnings for the second quarter were $139.5 million, an increase of 21 percent year-on-year.

The risk management segment's net earnings were $14.4 million, up 4 percent year-on-year.

“We delivered another excellent quarter of operating performance and are optimistic about the remainder of the year. During the second quarter, we posted outstanding organic revenue growth, completed 9 tuck-in brokerage mergers, expanded margins and grew earnings per share,” said J Patrick Gallagher Jr, chairman, president and CEO.

“Our first half renewals, as well as our mid-year internal insurance rate survey, suggest P&C pricing is mostly stable. Almost two thirds of our survey respondents expect no significant change in the 2017 pricing environment. This continues to be an environment in which our talented production team will outperform.”

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