Of this, the company’s brokerage arm reported revenue of $12.2 billion, compared to $9.9 billion in 2024. For Q4’25, net earnings across the company dipped to $154 million compared to $258 million in Q4’24. In Q4’25, the firm closed six acquisitions with annualised revenues of $118 million, compared to 19 deals with revenue of $189 million in Q4’24. Our two-pronged revenue growth strategy, that’s organic and M&A, drove double-digit top-line growth for the 20th straight quarter. Fourth quarter revenue growth for our combined Brokerage and Risk Management segments was in excess of 30% and included organic revenue growth of 5%.