The Itasca, Ill.-based broker late Tuesday reported $1.73 billion in total revenues in 2009, a 5.1% increase over 2008, while profits were up 66.4% to $128.6 million.

Gallagher’s brokerage segment, its largest operating unit, reported a 7.4% increase in revenue in 2009 to $1.28 billion. Acquisitions over the prior 12 months accounted for $142.8 million of that revenue, which offset the 2.5% drop in organic growth for the year.

Revenues from Gallagher’s risk management segment were down 2.5% in 2009 to $453.2 million, the broker said.

Gallagher recorded a pretax charge of $11.8 million in the fourth quarter related to its previously announced job cuts. The broker said that it completed its 4% reduction in workforce in January.

For reprints of this story, please contact Lauren Melesio at 212-210-0707 or email lmelesio@crain.com


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