AJ Gallagher

Steve Wilkinson, Milorad Piper and Wan Xin Lee have joined the broker’s aviation operation.

Private brokers continue acquisition driven growth and deliver high margins, but deferred integration costs and elevated leverage remain issues to watch.

Intermediaries appear caught between the competing pressures of results that speak to an improving market (good for their stocks) and a concern to manage market expectations to the benefit of clients.

The CEO said US retail rates were up by about 4 percent and that most due diligence for future acquisitions would be focused on culture.

AJ Gallagher’s earnings increased by 4.8 percent to $0.65 per share in Q2, as it beat analyst expectations of $0.61 per share.

In its Plane Talking report, the broker noted that rate growth in the aviation sector accelerated in the second quarter.

The lawsuit against carriers including Chubb, Allianz and Markel follows the passage of NY’s Child Victims Act.

The senior broker was among a number who did not sign contracts to join AJ Gallagher after MMC sold JLT Aerospace.

A firming rate environment and improved macro trends provided a dual tailwind in the quarter.

Pat Gallagher sees regulatory pressure spawning opportunities for M&A and recruiting.

The company has posted organic growth above 5 percent for seven straight quarters.