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Arthur J. Gallagher & Co. (NYSE: AJG) is a leading global insurance brokerage and risk management services firm headquartered in Rolling Meadows, Illinois. With operations across approximately 130 countries, Gallagher provides retail and wholesale property and casualty brokerage, alternative risk transfer services, employee benefit consulting, and actuarial services. Additionally, they offer claims and information management, risk control consulting and appraisal services, human resource consulting, and retirement services.
Gallagher helps clients address risk, protect assets, and recover from losses, ensuring businesses and institutions continue running smoothly and individuals and families can rebuild their lives. The company’s primary revenue source is its brokerage segment, which negotiates and places its customers with insurance companies providing, among other types, property/casualty and health insurance. Gallagher’s brokerage revenue mainly comes from commissions paid by insurance companies.
Arthur J. Gallagher & Co. is recognized as a World's Most Ethical Company by the Ethisphere Institute. They generate most of their revenue in the United States, with significant contributions from Australia, Bermuda, Canada, the Caribbean, New Zealand, and the United Kingdom.
Recent achievements include several strategic acquisitions to expand their market capabilities and service offerings. In early 2024, Gallagher acquired FarmPLUS Insurance Services, John Galt Insurance Agency, Specialty Risk Management Services, and Private Client Insurance Services, enhancing their presence in the agricultural and real estate markets. Additionally, they renewed their global partnership with Special Olympics International, demonstrating their commitment to promoting inclusion and supporting athletes worldwide.
Gallagher's financial condition remains robust, as evidenced by their strong first-quarter performance in 2024. They reported substantial revenue growth and improved net earnings, driven by increased demand for insurance and reinsurance services and successful integration of recent acquisitions.
For the latest updates and news, investors can visit Gallagher's website or contact their Investor Relations and Communications teams.
Arthur J. Gallagher & Co. (NYSE: AJG) reported its Q2 2024 financial results, showing strong growth. Revenue increased by 14% YoY to $2.736 billion, and net earnings rose to $285.4 million from $235.8 million in Q2 2023.
Brokerage segment reported revenue of $2.376 billion, up from $2.088 billion, and net earnings of $332.8 million, an increase from $290.3 million. The Risk Management segment saw revenue grow to $358.6 million from $318.6 million, with net earnings rising to $47.8 million from $36.7 million.
The company completed 12 mergers, adding $72 million in annualized revenue. Adjusted EBITDAC margin improved by over 100 basis points to 31.4%.
Chairman and CEO, J. Patrick Gallagher, Jr., expressed optimism about the company's performance and growth prospects, citing a strong M&A pipeline and positive customer business activity. The insurance renewal premiums increased globally, and the company remains in an 'enviable position.'
Arthur J. Gallagher & Co (NYSE: AJG), a global insurance brokerage and risk management firm, has declared a regular quarterly cash dividend of $0.60 per share on its Common Stock. The dividend is payable on September 20, 2024 to stockholders of record as of September 6, 2024. This announcement demonstrates the company's commitment to returning value to shareholders. AJG operates in approximately 130 countries worldwide, offering insurance brokerage, risk management, and consulting services through its owned operations and a network of correspondent brokers and consultants.
Arthur J. Gallagher & Co. (AJG) has appointed Richard Harries to its Board of Directors. Harries brings over 35 years of insurance industry experience in the UK and other highly regulated markets. He has a strong background in growing businesses as an operational leader, having held key positions such as CEO, director, chief underwriting officer, and energy underwriter at Atrium Underwriters . Harries also has experience from Willis Faber & Dumas, where he held senior roles in the energy sector.
J. Patrick Gallagher, Jr., Chairman and CEO, expressed confidence that Harries' deep insurance and technology experience will add a unique and valuable perspective to the board. The appointment is expected to play a important role in Gallagher's growth strategy, helping to expand its client base and deliver results.
Arthur J. Gallagher & Co. (NYSE: AJG) will release its second quarter 2024 earnings on Thursday, July 25, 2024, after market close. A printer-friendly format will be available on the company's website soon after. Concurrently, Chairman and CEO J. Patrick Gallagher, Jr. will host a conference call at 5:15 pm ET on the same day. The call will be broadcast live on Gallagher's website, with a replay available approximately two hours later. Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, operates in around 130 countries, providing insurance brokerage, risk management, and consulting services.
Arthur J. Gallagher & Co. has acquired Cleary Benefits Group, a health and benefits consulting firm based in Danbury, Connecticut. The financial terms of the deal were not disclosed. Cleary Benefits Group serves primarily mid-sized to large commercial clients. Brian Cleary and Heather Katz, along with their team, will continue to operate from their current location under the guidance of Scott Sherman, head of Gallagher's Northeast region employee benefits consulting and brokerage operations. This acquisition aims to enhance Gallagher's benefits consulting capabilities in the region. Arthur J. Gallagher & Co. operates in roughly 130 countries, providing insurance brokerage, risk management, and consulting services.
Arthur J. Gallagher & Co. announced on July 2, 2024, that its subsidiary, Gallagher Bassett, has acquired NetClaim from NAVEX. The transaction's terms were not disclosed. NetClaim specializes in first notice of loss and injury reporting services for risk management clients, insurance carriers, and third-party administrators across the United States. This acquisition will enhance Gallagher Bassett's incident management capabilities under the leadership of Niel Simon, Executive VP of Gallagher Bassett Global Solutions.
J. Patrick Gallagher, Jr., Chairman and CEO, expressed excitement about integrating NetClaim's expertise to improve client outcomes. Arthur J. Gallagher & Co., a global insurance brokerage and risk management firm, operates in around 130 countries. For more information, contact Ray Iardella, VP of Investor Relations, or Paul Day, Communications Manager.
Arthur J. Gallagher & Co. (AJG) has acquired Cornerstone Commercial & Personal Insurance Services, Inc., based in Rancho Cucamonga, California. The terms of the deal were not disclosed. Cornerstone serves commercial and personal clients, focusing on commercial real estate, construction, and homeowners associations in San Bernardino and Riverside counties. Phil and Allison Hakopian and their team will continue operating from their current location under Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations. This acquisition aims to enhance Gallagher's expertise in the homeowners association niche.
Arthur J. Gallagher & Co. (AJG) has acquired Zayla Partners, , a Texas-based executive compensation strategy firm. The acquisition enhances Gallagher's HR and compensation consulting capabilities, aligning with its strategic growth plans. Zayla's team, led by Chris Crawford and Ian Keas, will remain in their current Texas and Colorado locations, under the management of Steve Coco, Gallagher's Global HR & Compensation Consulting Managing Director. The financial terms of the acquisition were not disclosed.
Arthur J. Gallagher & Co. is a global insurance brokerage, risk management, and consulting services firm with operations in approximately 130 countries.
Gallagher's 2024 U.S. Organizational Wellbeing Report reveals that retention remains a top priority for HR (62%) and operations (45%). Despite a turnover rate of at least 15% in 2023 for half of employers, 67% experienced turnover within their target range or lower, indicating stabilizing attrition rates.
The report, based on data from over 3,500 U.S. organizations, highlights trends in organizational strategy, HR technology, and healthcare costs. Emotional wellbeing remains a priority for 64% of employers, with an emphasis on mental health and social connectedness.
Rising healthcare costs are a concern, with 73% of employers expecting increases in 2024. This has led to a focus on controlling employee benefits costs, which is now a top priority for 28% of HR and 19% of operations teams.
Employers are advised to optimize their total rewards programs, phasing out less valuable benefits and ensuring employees understand and appreciate the offered benefits.
Arthur J. Gallagher & Co. has announced the acquisition of OperationsInc, a consulting firm based in Norwalk, Connecticut.
The financial terms of the deal were not disclosed. OperationsInc specializes in human resources, payroll, HRIS services, talent acquisition, and employee training for clients across the U.S.
The current team, led by David Lewis, will remain in place, reporting to Steve Coco, Gallagher's Global HR & Compensation Consulting Managing Director. This acquisition aims to enhance AJG's client offerings in HR consulting.
Arthur J. Gallagher & Co. is a global insurance brokerage, risk management, and consulting services firm headquartered in Rolling Meadows, Illinois, operating in about 130 countries.
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