Arthur J. Gallagher & Co. (NYSE:AJG) Q4 2022 Earnings Call Transcript

Patrick Gallagher: I think that it will be achievable with existing capacity. I was very pleased — our reinsurance people were telling us in late November and December, early December that they were very fearful some of these placements just weren’t going to get done. And that is a nightmare on all sides of the equation. And in fact, really, really pleased and proud of the team that did the work to bring the programs together for our clients as January got going here. So I think on existing capacity, of course, the largest renewal season is now winding down. It’s not over, but it’s winding down. And so I do think the increases going forward could come off existing capacity. However, having said that, any additional capacity would be very welcome and will be utilized quickly and would add to that.

All right. Then let me just add a few comments as I wrap up. I want to thank you again for joining us this evening. Obviously, I’m very pleased with our ’22 financial performance. I am still very excited about our future. I want to thank our clients for their continued trust, our 43,000-plus colleagues for their passion, hard work and dedication. And finally, I need to mention our carrier partners. They do play an integral role in meeting our clients’ insurance and risk management needs. And we look forward to speaking with you all again at our March IR Day. So thank you for being with us, and we’ll talk to you then.

Operator: Thank you. This does conclude today’s conference call. You may disconnect your lines at this time. Thank you for your participation, and enjoy the rest of your day.