Global broker Gallagher says it is “well positioned” to exploit the industry upturn after a strong earnings performance last year.

Net profit in the calendar year increased to $US463.1 million ($572.2 million) from $US414.4 million ($512 million) in 2016, while revenue surged to $US6.16 billion ($7.6 billion) from $US5.59 billion ($6.9 billion).

Fourth-quarter net profit increased to $US105.1 million ($129.9 million) from $US95.1 million ($117.5 million) in the corresponding period of 2016, while revenue grew to nearly $US1.6 billion ($1.98 billion) from $US1.39 billion ($1.72 billion).

“We had a fantastic quarter to close out the year,” Chairman, President and CEO Patrick Gallagher said.

“For both the quarter and the full year, we delivered excellent revenue growth and margin expansion, completed high-quality tuck-in mergers and grew earnings per share.

“We are well positioned for [this year]. The insurance market is stable or improving in most geographies, we are providing valued insurance advice and delivering superior claim outcomes, our integration efforts are complete, our mergers and acquisitions pipeline is full and our most valuable asset, our unique Gallagher sales and service culture, is stronger than ever.”