Arthur J. Gallagher reports Q2 2019 figures

The numbers are in for Arthur J. Gallagher & Co. (AJG), and the man at the company’s helm has nothing but nice words.

For the quarter ended June 30, the global insurance brokerage and risk management firm posted net earnings of US$121.4 million (around £98.1 million). The figure represents a decline from the US$123.7 million (around £99.9 million) recorded in the same period last year.

Broken down, here’s how the Illinois-headquartered group fared in terms of reported net earnings:

• Brokerage segment – US$138 million, up from US$127.5 million in 2018
• Risk management segment – US$15.5 million, down from US$17.6 million
• Corporate segment – Loss of US$32.1 million, from previous loss of US$21.4 million

On an adjusted basis, however, AJG’s total net earnings for the quarter stood at US$134.6 million (around £108.7 million), an increase from US$123.1 million (around £99.4 million).

Commenting on the results, AJG chairman, president, and chief executive J. Patrick Gallagher, Jr. stated: “We delivered another outstanding quarter of operating performance and are excited about the remainder of 2019.

“During the second quarter, we posted excellent total revenue growth, terrific organic revenue growth, strong margins and we completed 13 brokerage mergers with US$195 million (around £157.5 million) of annualised revenue.”