Earnings up 18% at Arthur J. Gallagher

Arthur J. Gallagher & Co. released Sunday its financial results for the three months ending March 31, 2014, reporting an 18% year-over-year increase in net earnings and a 4% year-over-year increase in risk management revenue.

Itasca, Illinois-based Arthur J. Gallagher, which has offices in Canada, reported brokerage revenues of $568.6 million in the first quarter, up 29% from $454.4 million during the same period of 2013. All figures are in U.S. currency.

In Canada, Arthur J. Gallagher provides a variety of risk management and commercial brokerage services, including property, boiler and machinery, surety, environmental and liability.

The firm reported total revenues of $915 million in Q1 2014, up 36% from $674.1 million during the same period in 2013. Revenue from clean coal facilities was $154.3 million during the first quarter of this year, up year-over-year from $49.3 million.

Arthur J. Gallagher’s net earnings were $49.3 million for the latest quarter, up 18% from $40.5 million in Q1 2013.

Contingent commissions were $32.3 million in Q1 2014, up from $22.5 million in 2013.

For the risk management segment, revenues were $160 million in Q1 2014, up 4% from $153.6 million in Q1 2013.

As of December 31, the company had about 16,400 employees worldwide. Most of its international brokerage operations are in Australia, Bermuda, Canada, the Caribbean and Britain.