Global broker Arthur J Gallagher has posted a net profit of $US445 million ($579.5 million) for last year, up from $US389.1 million ($506.7 million) in 2015.

Chairman, President and CEO Patrick Gallagher attributes the gain to strong revenue growth, improved margins and disciplined execution of the group’s “tuck-in” mergers and acquisitions strategy.

“Our unique Gallagher culture is as strong as ever, our integration efforts are largely complete and we have a robust mergers and acquisitions pipeline,” he said. “We continue to see an environment where our talented production and claims staff can drive growth.”

Gallagher made 37 acquisitions last year, with annualised revenues acquired of $US137.9 million ($179.58 million).

The company finished the year with a fourth-quarter profit of $US101 million ($131.52 million), up from $US68.2 million ($88.81 million) in the corresponding period of 2015.

Investment income was down to $US59.9 million ($78 million) for the year from $US60.9 million ($79.3 million) in 2015.