Arthur J. Gallagher & Co. AJG reported first-quarter 2020 adjusted net earnings of $1.83 per share, which beat the Zacks Consensus Estimate by 5.2%. Moreover, the bottom line increased 12.3% on a year-over-year basis.The company’s performance was driven by higher adjusted revenues across Brokerage and Risk Management segments.Operational UpdateTotal revenues were $1.8 billion, down 2.9% year over year.Arthur J. Gallagher’s total expenses increased 9.5% year over year to $1.5 billion in the reported quarter. Higher compensation, reimbursements, interest, and amortization costs resulted in this escalation.Adjusted earnings before interest, tax, depreciation and amortization and change (EBITDAC) in estimated acquisition earnout payables increased 3.1% from the prior-year quarter.Arthur J. Gallagher & Co. Price, Consensus and EPS Surprise Arthur J. Gallagher & Co. price-consensus-eps-surprise-chart | Arthur J. Gallagher & Co. QuoteSegmental ResultsBrokerage: Revenues of $1.4 billion increased 9.5% year over year on higher fees, and commission, supplemental and contingent revenues.Expenses jumped 5.7% from the year-ago quarter.Adjusted EBITDAC climbed 5.8% from the year-ago level to $495.5 million and margin contracted 120 basis points (bps).Risk Management: Revenues were up 5.5% year over year to $211.8 million, mainly owing to higher fees.Expenses rose 4.4% from the prior-year period to $223.9 million.Adjusted EBITDAC improved 2.9% year over year to $35.3 million but margin contracted 10 bps.Corporate: Total revenues of $181.8 million were down 51.2% year over year due to lower revenues from consolidated clean coal facilities and lower royalty income from clean coal licenses.EBITDAC was a negative $23 million compared with a negative $65.4 million in the year- ago quarter.Financial UpdateAs of Mar 31, 2020, total assets were $20.8 billion, up 6.1% from the 2019-end level.At the end of the quarter, cash and cash equivalents of $2633.2 million increased 0.4% from the 2019-end level.As of Mar 31, 2020, shareholders’ equity decreased 2.8% to $5.1 billion from the level on Dec 31, 2018.Dividend UpdateThe board of directors approved a quarterly cash dividend of 45 cents per share. The dividend will be paid out on Jun 19, 2020 to shareholders of record on Jun 5.Acquisition UpdateIn the quarter, the company closed eight acquisitions with estimated annualized revenues of about $124.2 million.Zacks Rank and Performance of Other InsurersCurrently, Arthur J. Gallagher carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Among other players from the insurance industry that have reported first-quarter earnings so far, the bottom line of Brown & Brown, Inc. BRO beat estimates while that of RLI Corp. RLI and Travelers Companies TRV missed the same.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report RLI Corp. (RLI): Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report To read this article on Zacks.com click here.