* Q2 net $43.8 mln vs $40.8 mln last year
* Q2 rev up 6 pct to $453.6 mln
* Reuters Estimates Q2 EPS view $0.43, rev view $450.3 mln
July 28 (Reuters) - Insurance brokerage Arthur J. Gallagher & Co reported a higher quarterly profit, helped by rise in commissions and fees. For the second quarter, net income was $43.8 million, or 44 cents a share, compared with $40.8 million, or 44 cents a share, last year. Revenue rose 6 percent to $453.6 million.
'Insurance rates were still soft in the second quarter, the economy continues to adversely impact our clients' buying activities and investment yields are at all time lows,' Chief Executive J. Patrick Gallagher said.
Analysts were expecting earnings of 43 cents a share, on revenue of $450.3 million, according to Reuters Estimates.
Commissions jumped 9 percent to $267.6 million, while fees rose 5 percent to $180.8 million.
Shares of the Itasca, Illinois-based company closed at $22.60 Tuesday on the New York Stock Exchange.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Deepak Kannan) Keywords: ARTHURJGALLAGHER/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q2 rev up 6 pct to $453.6 mln
* Reuters Estimates Q2 EPS view $0.43, rev view $450.3 mln
July 28 (Reuters) - Insurance brokerage Arthur J. Gallagher & Co reported a higher quarterly profit, helped by rise in commissions and fees. For the second quarter, net income was $43.8 million, or 44 cents a share, compared with $40.8 million, or 44 cents a share, last year. Revenue rose 6 percent to $453.6 million.
'Insurance rates were still soft in the second quarter, the economy continues to adversely impact our clients' buying activities and investment yields are at all time lows,' Chief Executive J. Patrick Gallagher said.
Analysts were expecting earnings of 43 cents a share, on revenue of $450.3 million, according to Reuters Estimates.
Commissions jumped 9 percent to $267.6 million, while fees rose 5 percent to $180.8 million.
Shares of the Itasca, Illinois-based company closed at $22.60 Tuesday on the New York Stock Exchange.
(Reporting by Brenton Cordeiro in Bangalore; Editing by Deepak Kannan) Keywords: ARTHURJGALLAGHER/ (brenton.cordeiro@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: brenton.cordeiro.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.