AJG's 2012 broking profits jump by 11%
Arthur J Gallagher (AJG) saw its broking net profits jump 11% to $155.8m (£98.6m) for the 2012 full year, up from the $140.2m posted for 2011.
Total revenues for its broker segment were up 17.4% during 2012 at $1.83bn (FY 2011: $1.56bn).
Broker commissions and fees also rose 16% and 24% respectively during 2012.
However, AJG's results showed that the integration of Heath Lambert resulted in a $19.3m Ebitdac loss, compared to a $16m fall during 2011.
The broker also confirmed that its global workforce was cut by 3%, accounting for some 400 middle-office and back office-office positions, during Q4 2012.
AJG said the actions reflected its
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