UK contributed 16% to group results in 2013
Arthur J Gallagher’s UK turnover grew by 23% to hit $434.4m (£264.7m) last year.
Gallagher’s growth in the UK meant it contributed 16% to Gallagher’s total $3.18bn (£1.94bn) turnover, according to its annual report filed with the US Securities and Exchange Commission.
Gallagher’s UK turnover has rocketed by 66.7% in just two years. In 2011 its $260.5m turnover contributed 12% to Gallagher’s $2.13bn group total.
The filing did not break down profits geographically, but the group posted a total profit of $268.6m for the full year of 2013, up 38% on the $195m it made in 2012.
The annual report also revealed that Gallagher paid $27.1m (£16.5m) for the acquisition of transport specialist Belmont and $65.1m (£38m) for the property and commercial business of Barbon.
The results also confirmed that Gallagher spent $2.7m (£1.7m) on integrating Giles last year, with costs covering technology, introducing Giles’s 1,100 staff to Gallagher’s way of working and culture, and incentive payments. It completed the £233m purchase on 14 November.
Gallagher expects the integration of Giles to cost between $2.5m to $4m per quarter this year, in line with its previous forecast.
Giles, then the UK’s fifth largest broker, was the biggest of Gallagher’s 31 global acquisitions last year. Gallagher is now in exclusive discussions to buy Oval.