Gallagher has reported adjusted net earnings of $US734 million ($1.04 billion) for the June quarter, up from $US604 million ($857 million) a year earlier.

The key brokerage segment increased its adjusted net profit to $US825 million ($1.17 billion) from $US711 million ($1 billion), and risk management also put in a stronger result, with net earnings rising to $US66 million ($93 million) from $US54 million ($76 million).

“We delivered an excellent second quarter,” chair and CEO J Patrick Gallagher said. “Our combined brokerage and risk management segments delivered revenue growth of 24%, including organic growth of 6%.”

Mr Gallagher says the result “reflects the strength and diversity” of the business model.

“Client retention remains strong, new business generation continues to be outstanding and clients continue to seek broader solutions across our platform,” he said.

“In an increasingly complex risk environment, client demand for our advice, analytics, market access, specialty expertise and claims advocacy remains robust.

“Looking ahead, we remain confident in our ability to build on our momentum and continue creating long-term value for our clients, colleagues and shareholders.”

Market conditions continue to moderate but war-related risks are a “clear exception”, Mr Gallagher says.

“Marine, aviation and political violence exposures … are seeing significant repricing and more selective deployment of capacity,” he told an earnings briefing. “Coverage remains available, but it requires careful structure and co-ordinated execution across markets.”