Second quarter 2000 was good for Arthur J. Gallagher & Co., which reported record quarterly revenues of more than $158.4 million for the three-month period that ended June 30. The revenue represents a 9.5 percent increase from the company’s second-quarter 1999 revenues.
The company’s net earnings for the second quarter were more than $14.7 million, a 12.9 percent increase over the comparable period last year. J. Patrick Gallagher Jr., president and chief executive officer of Itasca, Ill.-based Gallagher, attributed the company’s second-quarter results to its new business efforts and account-retention programs, as well as a move toward higher premium rates across most lines of coverage.
For the first half of the year, Gallagher recorded total revenues of nearly $312.7 million, a 10.0 percent increase over its results from the first half of 1999. Gallagher posted net earnings of nearly $30.1 million for the first six months of 2000, which is a 12.1 percent increase over the comparable period last year.
Topics Profit Loss A.J. Gallagher
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