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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 July 5, 2022, Arthur J. Gallagher & Co. announced the acquisition of Surety Associates of Southern California Insurance Services (SASC), based in La Mesa, California. Founded in 2010, SASC specializes in surety bonds for clients in California, Arizona, and Nevada. Cyndi Beilman and her team will continue their operations, reporting to Scott Firestone, who oversees Gallagher's Southwest region. This acquisition aims to strengthen Gallagher's surety presence in the Southwest, enhancing its service offerings in the region.
Arthur J. Gallagher announced the acquisition of Erimus Group Limited, an established retail insurance broker located in Tees-side, England. The transaction strengthens Gallagher's position in the North East of England and is expected to expand their regional presence. Erimus, founded in 1986, serves a range of commercial clients with products like cyber and employers liability insurance. The deal aligns with Gallagher's UK Retail division and will see Erimus's leadership reporting to regional management. Financial details of the transaction were not disclosed.
Arthur J. Gallagher & Co. announced the acquisition of INNOVU Group Holding Company Limited, a retail insurance broker based in Wexford, Ireland. Founded in 2018 by Ronan Foley, INNOVU offers various commercial and personal insurance products and financial services from seven locations in Ireland. This acquisition marks Gallagher's first presence in Ireland, aiming to expand its footprint in this growing economic region. Ronan Foley and team will remain in their current operations, under the leadership of Michael Rea, Gallagher's UK and Ireland retail operations head.
Arthur J. Gallagher & Co. (NYSE: AJG) will hold its quarterly management meeting on June 15, 2022, from 8:00 a.m. to 10:30 a.m. CT via conference call. The meeting will feature key insights from the company's operating and financial leaders regarding its business operations and financial outlook, along with a Q&A session for investors. The event can be accessed live on Gallagher's website, with a replay available until June 22, 2022. Relevant materials will be shared before the meeting on June 15 at 7:30 a.m. CT.
Arthur J. Gallagher & Co. has announced the acquisition of Lighthouse Insurance Group, LLC (LIG), based in Independence, Ohio. Founded in 2009, LIG specializes in health insurance products and Medicare plans for individuals not eligible for corporate plans. This acquisition aims to enhance Gallagher's health and ancillary insurance offerings, particularly for pre- and post-retiree clients. Jason Farro, Anthony Naoum, and their team will continue operations under Gallagher's leadership, potentially driving growth in the employee benefits sector.
Gallagher has entered a multi-year partnership with Penske Entertainment and Team Penske, enhancing its brand presence in the NTT INDYCAR SERIES and at the Indianapolis Motor Speedway. The agreement includes entitlement sponsorship of the Gallagher Grand Prix on July 30, and primary sponsorship of the No. 3 Gallagher Dallara/Chevrolet driven by Scott McLaughlin at Detroit and Indianapolis. This collaboration aims to leverage motorsports for brand visibility while aligning with Penske's core values.
Arthur J. Gallagher & Co. (AJG) reported strong first-quarter 2022 results with total revenues of $2.40 billion, representing an increase from $2.13 billion in Q1 2021. Net earnings rose 28% to $439.1 million, or $2.05 per share. Key highlights include 30% revenue growth from brokerage and risk management segments, and $380 million from acquisitions. Despite a minor revenue impact of up to $10 million from the Ukraine/Russia conflict, management remains optimistic about continued strong demand for services. Adjusted EBITDAC rose 34%, showcasing robust operational efficiency.
Arthur J. Gallagher & Co. (NYSE: AJG) announced a quarterly cash dividend of $0.51 per share on April 27, 2022. This dividend will be paid on June 17, 2022, to stockholders on record as of June 3, 2022. As a leading global insurance brokerage and risk management firm, Gallagher operates in 68 countries, providing services through a network that extends to over 150 countries.
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