(Reuters) -Arthur J. Gallagher declared an increase in the second quarter profit Thursday, supported by solid insurance expenses that led to commissions and higher costs for the company.
Insurance brokerage houses, which act as intermediaries by helping customers select appropriate plans for their needs, do not sell police directly.
Insurance expenses remained strong during the quarter, as individuals and businesses requested protection against economic uncertainty and natural disasters, increasing the costs and commissions for brokerage homes such as Arthur J. Gallagher.
“We are making excellent progress in the acquisition in the process of insured insured persons and think that we are on the right track to close here in the third quarter of 2025,” CEO J. Patrick Gallagher Jr. said in a press release.
Arthur J. Gallagher’s commissions reached $ 1.81 billion, compared to $ 1.66 billion the previous year. Total costs increased by more than 16% to $ 962.4 million during the quarter.
The company declared a net profit of $ 366.2 million, or $ 1.40 per share, for the three months closed on June 30, against $ 285.4 million, or $ 1.27 per share, during the same period a year earlier.
Peer Aon earlier this week also declared a higher quarterly benefit due to an increase in commissions and costs.
(Report by Ateev Bhandari in Bengaluru; edition by Mohammed Sadi Shamsi)
