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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.
On January 11, 2023, Arthur J. Gallagher announced the acquisition of John C. Breckenridge Insurance Solutions, Inc. (JCB), a firm specializing in student health and intercollegiate athletics insurance. The terms of the transaction remain undisclosed. This acquisition is set to enhance Gallagher's expertise and product offerings in the student health insurance market on the West Coast. JCB's founders, John and Lisa Breckenridge, will continue to operate under Gallagher's direction, reinforcing Gallagher's commitment to expanding its footprint in the education sector.
Arthur J. Gallagher & Co. (NYSE: AJG) plans to release its fourth quarter 2022 earnings after market close on January 26, 2023. Following the earnings announcement, Patrick Gallagher, Jr., Chairman, President and CEO, will host a conference call at 5:15 pm ET. This call will be accessible via Gallagher's website, with a replay available two hours post-broadcast. Gallagher operates in approximately 130 countries, providing insurance brokerage and risk management services globally.
Arthur J. Gallagher & Co. announced the acquisition of Corporate Insurance Analysts, Inc. (MGC Group) and The Agents Association of FB Companies (AAFBC) on January 4, 2023. The terms of the transaction were not disclosed. MGC Group and AAFBC provide guaranteed issue group insurance benefits for independent contractors across various U.S. states. The acquisition aims to enhance Gallagher's Affinity product offerings. John Matthews and his team will operate under Kevin Garvin, head of Affinity North America. Gallagher serves clients in around 130 countries.
Arthur J. Gallagher & Co. (NYSE: AJG) has announced an agreement to acquire BCHR Holdings, L.P. (dba Buck) for a total consideration of $660 million. The acquisition is expected to close in the first half of 2023, pending regulatory approvals. Buck, with over 2,300 employees, specializes in retirement and employee benefits consulting. This move aims to enhance Gallagher's suite of services and is projected to be 2% accretive to adjusted diluted earnings per share. Key benefits include expanding Gallagher's offerings in HR consulting and technology.
Arthur J. Gallagher & Co. announced the acquisition of NEK Insurance, Inc., a California-based retail insurance agency specializing in property/casualty coverage for daycare centers, schools, and small contractors. This acquisition, which was disclosed on December 19, 2022, is expected to enhance Gallagher's existing operations in San Francisco by providing significant cross-selling opportunities. The terms of the transaction remain undisclosed. The NEK team, led by Kevin Bruns, Jennifer Sylvestri, and Kyle Peterson, will join Gallagher's San Francisco branch.
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