Arthur J. Gallagher saw fourth-quarter net earnings jump to $60million, compared to $33.5 million in 2012's fourth quarter, asrevenues increased to $890.2 million for the quarter, compared to$673.2 million for the same period in 2012.
|The brokerage segment saw a 22% increase in revenues to $592.7million. Net earnings in the segment were $50.5 million, up from$31.5 million in 2012's fourth quarter.
|In AJG's risk-management segment, revenues were $151.5 millionin 2013's fourth quarter, compared to $144.8 million for the sameperiod in 2012. Net earnings were down slightly to $8.7 millioncompared to $8.9 million in 2012's fourth quarter.
|For the year, AJG's net earnings were $268.6 million compared to$195 million in 2012. Revenues were $3.2 billion in 2013 comparedto $2.5 billion the year before.
|In a Seeking Alpha transcript of AJG's conference call, J.Patrick Gallagher, executive chairman, CEO and president, said,“Simply said, I could not be any prouder of our team and ourresults for the fourth quarter and full year 2013.”
|He said 2013 was a “banner year” for mergers and acquisitions.“We completed 31 transactions, two of which were really sizable,”Gallagher said. “Bollinger in the Northeast and Giles in the U.K.,added significantly to our revenue base in both locations.Including the other 29 completed acquisitions, we approached $400million of acquired revenue and $130 million of annualizedEBITDAC.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
