Premium growth of 7% in Australia and New Zealand has again contributed to an “outstanding” quarter for global broker Gallagher.

Chairman, President and CEO Patrick Gallagher told an earnings conference call he “couldn’t be more pleased” after net earnings rose to $US138 million ($200.62 million), up 8% from a year ago.

Organic revenue rose 5.8% in brokerage and 3% in risk management in the second quarter.

“In Australia and New Zealand pricing is up around 7%, which is very similar to what we have been seeing for the past two years,” Mr Gallagher told analysts, adding that all of Gallagher’s divisions globally contributed.

“I’m extremely pleased with our 2019 performance thus far and our team is poised to deliver another strong finish to the year,” he says.

Gallagher’s mid-year internal insurance rate survey suggests global property and casualty price increases approaching 5%, while about half of producers surveyed see rates moving higher in the second half of 2019.

During the quarter NYSE-listed Gallagher completed 13 brokerage mergers with $US195 million ($283.48) of annualised revenue.