Arthur J Gallagher increased profit by 13% to $US303.4 million ($389.46 million) last year on a strong result from its brokerage operations.

Chairman, President and CEO Pat Gallagher says broking had a “terrific” fourth quarter.

“We are comfortable with the current rate environment and we continue to see indications that our customers are anticipating growth in 2015 and beyond,” he said.

“This is a healthy environment for brokers.”

Broking revenue grew 35% to $US2.91 billion ($3.74 billion) for the year and earnings before interest, tax, depreciation and amortisation (EBITDA) gained 37% to $US664.5 million ($852.98 million).

EBITDA from risk management operations fell 5% to $US89.4 million ($114.76 million).

Gallagher completed 60 acquisitions last year, adding annual revenues of $US761 million ($976.86 million). These included the acquisition of OAMPS Insurance Brokers and New Zealand broker Crombie Lockwood from Wesfarmers.