Arthur J. Gallagher & Co. - AJG STOCK NEWS

Arthur J. Gallagher & Co. has announced that its subsidiary, Artex, has acquired Risk International, a Fairlawn, Ohio-based company providing outsourced risk management and employee benefits advisory services. The acquisition, completed on October 2, 2024, aims to strengthen Artex's strategic position and growth opportunities in North America.

Risk International's team, led by Todd Miller and Todd Lawrence, will continue to operate from their current location under the direction of Jennifer Gallagher, head of Artex's North American operations. The move is expected to enhance Gallagher's expertise in advisory services and expand its client relationships.

J. Patrick Gallagher, Jr., Chairman and CEO, expressed enthusiasm about welcoming the Risk International team to the Gallagher family. Arthur J. Gallagher & Co. (NYSE:AJG) is a global insurance brokerage, risk management, and consulting services firm headquartered in Rolling Meadows, Illinois, operating in approximately 130 countries worldwide.

Arthur J. Gallagher & Co. (NYSE: AJG) has announced its upcoming quarterly investor meeting scheduled for Thursday, September 19, from 8:00 a.m. to 10:30 a.m. CT. The meeting will be held virtually via conference call, accessible through the company's website at www.ajg.com/irmeeting.

During the call, Gallagher's leadership will provide insights into the company's business operations and financial outlook, followed by a Q&A session with investors. A replay of the conference call will be available until September 26, 2024. Any related materials will be accessible on September 19 at 7:45 a.m. CT via https://www.ajg.com/September19materials.

Gallagher is a global insurance brokerage, risk management, and consulting services firm operating in approximately 130 countries worldwide.

Gallagher's 2024 U.S. Career Wellbeing Report highlights career development as a important factor in employee engagement and retention. Despite its importance, only 35% of employers increased focus on career wellbeing, with many prioritizing other dimensions instead. The study, based on data from over 3,500 U.S. organizations, reveals:

- 57% of employers have a formal strategy for improving employee engagement, up 9 points from 2022
- 81% offer service awards or employee recognition, up from 75% in 2023
- 43% support employees in developing and pursuing a career path
- Only 19% strive to offer interesting and challenging work

The report also emphasizes the growing importance of Diversity, Equity, and Inclusion (DEI) in workplace culture, with 45% of employers designing initiatives to align with core organizational values.

Gallagher's 2024 US Physical & Emotional Wellbeing Report reveals that only 52% of US employers effectively manage healthcare costs. Key findings include:

• 92% of organizations faced health plan premium increases, with 24% experiencing double-digit hikes
• Top cost management challenges: high medical services (68%) and specialty drugs (44%)
• 52% of employers tie GLP-1 coverage to weight management program participation
• 80% offer multiple medical plans, with CDHPs and HSAs growing in popularity
• 70% are concerned about employee stress and burnout
• Only 42% believe managers are well-equipped to refer employees to mental health support

Employers are adopting various strategies, including value-based tactics, manager training, and workplace collaboration software to address these challenges and improve employee wellbeing.

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.