Arthur J. Gallagher & Co. reports developments tied to its global insurance brokerage, risk management and consulting services business. Company news commonly covers quarterly financial results, dividend declarations, acquisition activity, and updates from its brokerage and risk management operations across owned offices and correspondent broker and consultant networks in approximately 130 countries.
Recurring updates also include product and service initiatives such as Gallagher Blueprint, which combines AI-driven analytics, proprietary data and specialist expertise for client risk profiles and insurance program planning. Gallagher news also covers research on business risk topics, acquisition integration, and additions to retail brokerage, employee benefits, HR consulting and wealth management capabilities in markets such as Australia.
Arthur J. Gallagher & Co. (AJG) reported Q2 2021 revenues of $1.897 billion, up 22% year-over-year, with adjusted net earnings of $253.2 million, representing an 18% increase. The brokerage segment saw a remarkable 17% revenue growth, with organic growth at 8.6%. The company completed 8 tuck-in mergers, adding approximately $70 million in annualized revenues. A new $1.5 billion share repurchase plan has been authorized, replacing the previous one.
Gallagher's effective tax rate for Q2 was 9.2%, and they anticipate continued revenue benefits from improving economic conditions.
Arthur J. Gallagher & Co. (NYSE: AJG) announced the appointment of Teresa H. Clarke to its Board of Directors on July 28, 2021. Clarke, who is the Chair and CEO of Africa.com LLC, brings extensive experience from her previous role as a Managing Director at Goldman Sachs. The company expressed confidence that her financial, marketing, and technology expertise will provide valuable insights to the Board's decision-making process. Gallagher operates in 56 countries, enhancing its global reach in insurance brokerage and risk management.
Arthur J. Gallagher & Co. (NYSE: AJG) announced a quarterly cash dividend of $0.48 per share on July 28, 2021. This dividend is payable on September 17, 2021 to stockholders of record as of September 3, 2021. The company is a global leader in insurance brokerage, risk management, and consulting services, operating in 56 countries and providing services in more than 150 countries.
Arthur J. Gallagher & Co. (NYSE: AJG) announced on July 26, 2021, the termination of its acquisition agreement for certain Willis Towers Watson plc brokerage operations. This decision follows Aon plc's termination of their combination agreement with Willis Towers Watson. Gallagher plans to utilize its $650 million tranche of 10-year senior notes and is exploring opportunities for deploying excess cash, including potential share repurchases. Further details are expected in the upcoming earnings call on July 29, 2021.
Arthur J. Gallagher & Co. (NYSE: AJG) will announce its second quarter 2021 earnings on July 29, 2021, after market close. The earnings release will be accessible on the company's website. Following this, a conference call hosted by J. Patrick Gallagher, Jr., Chairman, President and CEO, is scheduled for 5:15 PM ET on the same day. This call will be streamed live on the company's website, with a replay available shortly after the broadcast. Gallagher operates in 56 countries and serves clients through a network in over 150 countries.
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Arthur J. Gallagher & Co. announced the acquisition of Stellar Benefits Group, LLC, a full-service employee benefits consulting firm based in Solon, Ohio. Founded in 2003, Stellar Benefits offers health and welfare programs to businesses of all sizes. The acquisition aims to enhance Gallagher's benefits capabilities in Northeastern Ohio. Ronald Rafal and Alan Greenberg, along with their team, will continue operations under Gallagher's Great Lakes region leadership. The transaction's terms were not disclosed, but it signifies Gallagher's commitment to expanding its client services across the region.
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Arthur J. Gallagher announced the acquisition of the remaining shares of Hesse & Partner AG and Hesse Consulting GmbH from founder Guido Hesse, having previously acquired a majority stake three years ago. The terms of the transaction remain undisclosed. Founded in 1997, Hesse & Partner specializes in risk management and insurance solutions, particularly in the waste-to-energy sector. The move is part of Gallagher's strategy to expand its presence in Europe, with CEO J. Patrick Gallagher, Jr. noting the alignment of visions and goals between the two companies.
Arthur J. Gallagher & Co. (NYSE: AJG) will hold its quarterly management meeting on June 17, 2021, from 8:00 a.m. to 10:30 a.m. CT. This meeting will be conducted virtually via conference call, where company leaders will discuss business operations and financial outlook, followed by a Q&A session. Interested parties can listen to the live broadcast on www.ajg.com/irmeeting, with a replay available until June 24. Relevant materials will be accessible from 7:30 a.m. CT on the same day.