July 30 (Reuters) - Arthur J. Gallagher ( AJG ) posted a
rise in second-quarter profit on Thursday, driven by higher fees
and commissions as strong demand for insurance supported client
spending.
Insurance demand stayed strong as companies and individuals
sought coverage against losses from natural catastrophes, cyber
threats, conflicts and other unexpected events.
Here are some details:
* Insurance brokerages act as intermediaries between
insurers and customers, helping clients choose policies that
best suit their coverage needs.
* Commissions in brokerage segment surged 35% over the year
earlier to $2.44 billion during the quarter, while fees jumped
27.5%.
* "In an increasingly complex risk environment, client
demand for our advice, analytics, market access, specialty
expertise and claims advocacy remains robust," CEO J Patrick
Gallagher Jr. said in a statement.
* Adjusted net income rose to $734 million, or $2.84 per
share, in three months ended June 30, from $604 million, or
$2.30 per share, a year earlier.