AJ Gallagher Reports Modest Earnings Gain

Arthur J. Gallagher & Co. (NYSE: AJG) reported its financial results for the third quarter and nine months ended September 30, 2002. Gallagher reported that total operating revenues grew 29% to $297.0 million in the third quarter of 2002 from $229.6 million in the same period of 2001. For the nine-month period ended September 30, 2002, total operating revenues grew 25% to $809.1 million from $649.8 million in the same period of 2001. Net operating earnings were up 1% in the quarter to $39.2 million, from $38.8 million in third quarter of 2001. Net operating earnings represent GAAP net earn...