Strong results in Australian broking operations helped US broker Gallagher achieve an “outstanding” third quarter.

The Australian and New Zealand brokerages produced a combined 6% rise in organic business growth, President and CEO Patrick Gallagher told an earnings call.

“I’m very pleased that all of our divisions globally contributed to this result,” he said.

“Internationally our retail brokerage operations combined to post 7% organic with Canada more than 10%, Australia and New Zealand up about 6% and the UK up 5%.”

On the pricing environment, he says rates are up around 5-6% in the two local markets, which are “about a point lower than we have been seeing over the previous two years but still a substantial increase”.

The core brokerage business made an overall $US165.9 million ($243.4 million) in adjusted net earnings for the September quarter, up from $US138.3 million ($202.9 million) a year earlier.

Group-wide net earnings including all other divisions fell slightly to $US137.1 million ($201.1 million) from $US138.4 million ($203 million).