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‘Excellent’ quarter for Arthur J Gallagher’s brokerage business

‘Excellent’ quarter for Arthur J Gallagher’s brokerage business

‘Excellent’ quarter for Arthur J Gallagher’s brokerage business
The insurance and risk-management company posted revenue of $1.3 billion in the period, below analysts’ forecasts of $1.34 billion. First quarter profits across the firm’s operations were $46.5m

J Patrick Gallagher, Jr, Chairman, President and CEO said: “We had an outstanding start to the year, building off last year's momentum. Our global team is energized and well positioned for 2016.”

The company described its brokerage segment’s first quarter performance as ‘excellent’. Adjusted total revenues increased 12%, of which 4.8% was total organic growth.

On a per-share basis, Illinois-based company said it had profit of 26 cents. Earnings, adjusted for non-recurring costs, came to 34 cents per share.