Arthur J. Gallagher & Co. Annual Report, Year Ended Dec 31, 2014

Arthur J. Gallagher & Co. (AJG) reported strong performance for the fiscal year ended December 31, 2014, driven by significant growth in its brokerage and risk management segments. The company benefited from a robust acquisition strategy, successfully integrating numerous acquisitions, including large transactions like Oval Group, Crombie/OAMPS, and Noraxis Capital Corporation. These acquisitions substantially expanded AJG's international presence, particularly in the UK and Australia, contributing significantly to its revenue growth. The company also reported positive organic growth across its core segments, indicating the health of its existing operations. A notable contributor to its corporate segment and overall profitability was its clean energy investments, which generated substantial earnings and tax credits. AJG's financial results demonstrate an increase in total revenues, driven by both acquisitions and organic growth. The company maintained expense discipline while investing in growth initiatives. The balance sheet reflects substantial growth in assets, including goodwill and intangible assets, due to the aggressive acquisition strategy. AJG's management expressed optimism about future prospects, anticipating continued expansion through strategic acquisitions and organic initiatives, supported by a strong liquidity position and access to capital markets.