Gallagher is confident it has the “momentum” to continue performing strongly after its core brokerage and risk management arms achieved solid results last year.

The global broker reported full-year net earnings of $US715.8 million ($1.07 billion), up from $US675.9 million ($1 billion).

Adjusted net earnings from the brokerage segment rose to $US726.8 million ($1.09 billion) from $US611.3 million ($913.4 million) and risk management also saw an increase, from $US68.2 million ($101.9 million) to $US70.4 million ($105.2 million).

“Our 2019 momentum should continue in 2020,” Chairman, President and CEO Patrick Gallagher said. “Almost without exception, property & casualty rates around the world are firm and continue to trend higher in most lines and geographies.

“Our clients' businesses are growing [and] unemployment is at historically low levels nearly everywhere.”