Brokerage drives growth at Arthur J Gallagher

Arthur J Gallagher enjoyed solid growth in the first quarter of 2017 driven largely by its brokerage segment.

The company posted overall revenues of $1.4 billion in the first quarter, an improvement on the $1.3 billion it posted a year earlier. Within this, its brokerage unit posted revenues of $878.5 million, a 6 percent increase on the year before; its risk management segment posted revenues of $182.6 million, a 2 percent improvement.

"We had an excellent start to 2017. Coming off a terrific 2016, we delivered solid organic growth, outstanding revenue growth from our tuck-in M&A strategy and strong margin expansion in the first quarter," said J. Patrick Gallagher Jr chairman, president and CEO.

"Our unique culture is thriving around the world, demonstrated by being selected as a World's Most Ethical Company for the sixth year in a row by the Ethisphere Institute. Our global businesses are working well together, the team is energized and we are successfully executing our strategies. We are well positioned for the remainder of 2017."