(Reuters) -Arthur J. Gallagher reported an increase in second-quarter revenue on Thursday, supported by robust insurance coverage spending that led to greater commissions and charges for the corporate.
Insurance coverage brokerages, which act as intermediaries by helping clients in choosing appropriate plans for his or her wants, don’t straight promote insurance policies.
Insurance coverage spending stayed robust within the quarter as people and companies sought safety in opposition to financial uncertainty and pure disasters, boosting charges and commissions for brokerages similar to Arthur J. Gallagher.
“We’re making wonderful progress on the pending AssuredPartners acquisition and imagine we’re on observe to shut right here within the third quarter of 2025,” CEO J. Patrick Gallagher Jr. mentioned in an announcement.
Arthur J. Gallagher’s commissions rose to $1.81 billion, up from $1.66 billion within the prior yr. Whole charges rose over 16% to $962.4 million within the quarter.
The corporate reported a web revenue of $366.2 million, or $1.40 per share, for the three months ended June 30, in contrast with $285.4 million, or $1.27 per share, in the identical interval a yr earlier.
Peer Aon earlier this week additionally reported greater quarterly revenue, on account of an increase in commissions and charges.
(Reporting by Ateev Bhandari in Bengaluru; Enhancing by Mohammed Safi Shamsi)
