UK now accounts for 20% of broking group’s brokerage and risk management revenue
Arthur J Gallagher derived $726.4m (£475m) of its brokerage and risk management revenue from the UK in 2014, up 70% on 2013’s UK revenues of $427.9m.
This means UK business now accounts for 20% of Gallagher’s total brokerage and risk management revenue, up from 15% in 2013.
The 2014 growth outstripped the 23.7% growth in UK revenue seen between 2012 and 2013.
Gallagher made a series of big acquisitions in the UK in 2014, including Oval in April 2014 and OAMPS UK in June 2014. These purchases followed on from Gallagher’s acquisition of Giles in November 2013.
The UK is Gallagher’s second biggest market behind the US.
The company also reported that its UK business had $2.45bn of identifiable assets at the end of 2014, up 30.4% on 2013’s $1.88bn.
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