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Home . International Insurance News . Americas . Arthur J. Gallagher Reports Q4 and FY 2009 Results

Arthur J. Gallagher Reports Q4 and FY 2009 Results

Tuesday, February 02, 2010

Itasca, Illinois – February 2, 2010 — Arthur J. Gallagher & Co.reported its financial results for the quarter and year ended December 31, 2009.

According to a Business Insurance story, the broker reported total revenues of $1.73 billion in 2009, a 5.1% increase over 2008. Profits were up 66.4% to $128.6 million.

The brokerage segment (its largest unit) reported a 7.4% increase in revenue in 2009 to $1.28 billion. Acquisitions accounted for $142.8 million of that revenue, which offset the 2.5% drop in organic growth.

Revenues from AJG’s risk management segment were down 2.5% to $453.2 million.

AJG recorded a pretax charge of $11.8 million in Q4 related to job cuts. The broker said that it completed its 4% reduction in workforce in January.

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