Arthur J Gallagher & Co. (NYSE:AJG)revealed net income for the fourth quarter of $ 101.00 million or 53 cents per share, compared to income of $ 68.20 million or 35 cents per share, in the year-ago period.
On Non-GAAP adjusted income basis, Arthur J Gallagher & Co. reported $ 124.20 million or 66 cents per share.
Revenue reached $ 1.39 billion, rose 3.75% from $ 1.33 billion a year ago.
Analysts polled by Thomson Reuters had expected Non-GAAP adjusted income of $ 0.66 a share on Revenue of $ 1.42 billion.
Arthur J. Gallagher & Co., together with its subsidiaries, provides insurance brokerage and risk management services in the United States and internationally. It operates through three segments: Brokerage, Risk Management, and Corporate.
The Brokerage segment consists of retail and wholesale brokerage operations. Its retail brokerage operations negotiate and place property/casualty, employer-provided health and welfare insurance, and healthcare exchange and retirement solutions for middle-market commercial, industrial, public entity, religious, and not-for-profit entities.
This segments wholesale brokerage operations assist companys brokers, and other unaffiliated brokers and agents in the placement of specialized and hard-to-place insurance programs. It also acts as a brokerage wholesaler, and managing general agent or managing general underwriter distributing specialized insurance coverages for insurance carriers; and performs activities, including marketing, underwriting, issuing policies, collecting premiums, appointing and supervising other agents, paying claims, and negotiating reinsurance.