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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. (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.
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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