Global broker Arthur J Gallagher increased profit by 86% to $US28.1 million ($27 million) in the first three months of this year on improvements in its brokerage and risk management operations.

Revenue rose 22% to $US546.8 million ($529 million) with Chairman and CEO Patrick Gallagher saying the market continues to firm and customers’ businesses are showing growth.

The company bought the UK operations of broker Heath Lambert last May, saying the acquisition would contribute about $US20 million ($19 million) to this year’s earnings before interest, tax, depreciation and adjustments for the acquisition.

Mr Gallagher says the company continues to consider merger and acquisition opportunities.

Brokerage earnings rose 21% to $US385 million ($372 million) while risk management operations were up 8% to $US141 million ($136 million).