International insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co. (AJ Gallagher), has announced total revenue growth of 17% for the fourth-quarter of 2019, of which 5.8% was organic.
For the full-year, the firm’s total revenue growth hit 14%, of which 5.6% was organic, leading Chairman, President, and Chief Executive Officer (CEO), J. Patrick Gallagher, Jr., to note an “outstanding fourth-quarter to cap-off an excellent full year 2019.”
Q4 2019 net earnings growth reached 31%, EBITDAC growth 24% and adjusted EBITDAC growth hit 23%, while for the full-year these figures reached 22%, 19% and 17%, respectively.
AJ Gallagher improved its net earnings margin by 104 basis points in Q4 and adjusted EBITDAC margin by 134 basis points. For the 12 months, the net earnings margin improved by 89 basis points and the adjusted EBITDAC margin by 76 basis points.
The company completed 49 acquisitions in the year with estimated annualised revenue of $468 million. 11 of these transactions were completed in the fourth-quarter, with estimated annualised revenue of $117 million.
“Our 2019 momentum should continue in 2020. Almost without exception, property & casualty rates around the world are firm and continue to trend higher in most lines and geographies. Our clients’ businesses are growing.
“Unemployment is at historically low levels nearly everywhere. This is an environment where our professionals combine their creativity and knowledge with our vast capabilities to help clients manage risk and attract and retain talent. Further, our unique culture, guided by The Gallagher Way, continues to encourage colleagues worldwide to seek excellence for themselves, their clients, carrier partners and one another. I am extremely pleased with our 2019 performance and excited about our future,” said J. Patrick Gallagher, Jr.
