Originally published at www.seclive.com
Arthur J Gallagher & Co. (NYSE:AJG) announced its first quarter financial results for the 2014 fiscal year, reporting double-digit growth in both revenue and earnings. The insurance and risk management firm reported a 24% increase in brokerage revenue, from $457M to $567.6M while risk management revenue improved 7% from $148.9M to $160.0M. Total revenues in brokerage and risk management jumped 20% from $605.9M a year ago to $727.6M this quarter. Overall company earnings and earnings per share jumped 28% and 22% respectively, from $106.5M and $0.32 per share to $136.7M and $0.39 per share. Chairman, President, and CEO J. Patrick Gallagher remarked that the company experienced substantial progress in revenue and earnings and expects the momentum to continue with its more than 10 mergers announced since the beginning of the year.
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