Arthur J. Gallagher & Co. reported its financial results for the quarter and six-month period ended June 30, 2013. "We had another strong quarter of organic growth and margin expansion across our global operations," said J. Patrick Gallagher, Jr., Chairman, President and CEO.
"In the second quarter, our combined Brokerage and Risk Management segments posted 15% growth in adjusted total revenues, 7.0% organic growth in commission and fee revenues, 19% growth in adjusted EBITDAC and adjusted EBITDAC margin improved by 92 basis points."
The Brokerage segment had an outstanding quarter. Adjusted total revenues were up 16%, base organic commission and fee revenues grew 5.9%, adjusted EBITDAC was up 20% and adjusted EBITDAC margin was up 90 basis points. We also completed another five acquisitions with annualized revenues of $36 million.
The Risk Management segment had an excellent quarter. Adjusted total revenues were up 10%, organic fees were up 10.4%, adjusted EBITDAC was up 14% and our adjusted EBITDAC margin improved by 50 basis points.
Second quarter earnings from our clean energy investments were nearly double those from the same quarter in 2012.
"We are seeing carriers ask for rate increases on most lines of coverage and in most geographies of the US, the UK and in
Australia, and our clients are indicating steady, but small, incremental improvements in their business prospects. Around
the world, we are successfully executing our strategies and our sales culture is thriving."