Gallagher says it has started this year with “excellent momentum” after a rise in fourth-quarter earnings. 

Net income on an adjusted basis increased to $US620 million ($895 million) in the quarter from $US498 million ($718 million) a year earlier, and adjusted revenue before reimbursements grew to $US3.57 billion ($5.15 billion) from $US2.71 billion ($3.9 billion).

The brokerage segment made an adjusted net income of $US714 million ($1.03 billion), up from $US537 million ($774.6 million), while revenue, also on an adjusted basis, rose to $US3.15 billion ($4.54 billion) from $US2.33 billion ($3.36 billion).

“We had an excellent fourth quarter … We have excellent momentum entering 2026 and our talented colleagues are executing on our value-creation strategy,” chairman and CEO J Patrick Gallagher said.

The brokerage business in the Asia-Pacific region had organic growth of about 3% in the fourth quarter, Mr Gallagher said in an earnings call last week.

On the pricing environment, he said: “Fourth-quarter insurance renewal premium change, which includes both rates and exposure, continued to increase in the low single digits.

“Once again, property decreases were more than offset by increases across most casualty classes, so many lines are still seeing increases outside of property.

“In fact, excluding property renewal premium change, we’ll be up about 3% during the quarter. That said, premiums are ultimately decided by loss experience and good accounts will get some premium relief. All accounts with poor loss experience will see greater increases.”