Gallagher has announced a new partnership with the Spear Foundation, a prominent community and cultural organisation in Western Australia.
This partnership aims to support the Spear Foundation’s efforts in promoting respect and integration between Elders and young people, contributing to community development.
Gallagher said the foundation’s values of culture, connection, collaboration, and preparation resonate with its core principles.
Gallagher’s involvement will support three main initiatives:
These programs focus on leadership, community building, equality, cultural preservation, and respect within and beyond Indigenous communities.
“This agreement marks a significant milestone in our ongoing commitment to our Reconciliation Action Plan, and we look forward to being actively involved in the many community and cultural events that the Spear Foundation undertake each year,” Gallagher said.
The partnership follows the release of Gallagher’s financial results for the second quarter of 2024.
The company provided the following financial outcomes for the quarter ending June 30, 2024:
“We had an excellent second quarter. Our core brokerage and risk management segments combined to post 14% reported revenue growth and 7.7% organic revenue growth. Our net earnings margin improved by 35 basis points to 13.9%, and we improved our adjusted EBITDAC margin by more than 100 basis points to 31.4%,” said chair and chief executive J. Patrick Gallagher Jr. “We also completed 12 new mergers with approximately US$72 million of estimated annualised revenue during the quarter, and have a merger pipeline of more than US$500 million of annualised revenue.”
He highlighted that daily brokerage revenue indicators from audits, endorsements, and cancellations remained positive.
“Our second quarter daily brokerage revenue indications from audits, endorsements, and cancellations remain positive, indicating continued strong customer business activity. Additionally, new claims arising within our third-party claims administration business, which are typically tied to business activity, continue to grow year over year,” he said. “The business is in great shape, and we are in an enviable position. Our net new business is up from prior year, renewal premiums continue to increase, and our M&A pipeline is growing. I am proud of our year-to-date financial performance and remain bullish about 2024 and beyond.”
