Gallagher has hailed its “two-pronged revenue” plan as key to its first-quarter performance.

Reported net earnings increased to $US823 million ($1.14 billion) from $US709 million ($984 million) a year earlier, and revenue before reimbursements grew to $US4.72 billion ($6.55 billion) from $US3.69 billion ($5.12 billion).

Adjusted net earnings from the brokerage division improved to $US1.23 billion ($1.7 billion) from $US1.05 billion ($1.45 billion) and pre-reimbursements revenue grew to $US4.29 billion ($5.95 billion) from $US3.37 billion ($4.67 billion).

In the risk management unit, adjusted net earnings climbed to $US61 million ($84 million) from $US50 million ($69 million) and revenue before reimbursements totalled $US428 million ($594 million), up from $US381 million ($528 million).

“For our combined brokerage and risk management segments, our two-pronged revenue growth strategy – growing both organically and through acquisitions – delivered revenue growth of 28% in the quarter,” chair and CEO J Patrick Gallagher said.

“Our results reflect the strength and consistency of our business model across the dynamic insurance and economic environment.”

Mr Gallagher says the business is also benefiting from “deeper collaboration across our property and casualty brokerage, benefits and claims teams, supported by practical applications of AI, automation”.