Arthur J. Gallagher & Co.
| Company type | Public |
|---|---|
| Industry | Insurance brokerage, risk management |
| Founded | January 1, 1927 in Illinois, United States |
| Founder | Arthur James Gallagher |
| Headquarters | Rolling Meadows, Illinois , United States |
Area served | Worldwide |
| Products | Insurance brokerage and risk management services |
| Website | www |
Arthur J. Gallagher & Co. (AJG) stands as a prominent American multinational firm specializing in insurance brokerage and risk management, with its headquarters situated in Rolling Meadows, Illinois, near Chicago. Established in 1927, it is recognized as one of the globe’s largest insurance brokerage companies.
History
The brokerage was founded in Illinois in 1927 by Arthur James Gallagher. Following World War II, his sons John, James, and Robert became part of the enterprise. The company officially incorporated in 1950, reporting revenues of $175,000, and by 1957 had secured Beatrice Foods Company as a client.
Throughout the 1990s, despite fierce competition and declining property and casualty insurance premiums, Gallagher maintained double-digit growth in most years between 1990 and 2000. In the year 2000, the company broadened its footprint by acquiring 16 smaller brokerages, extending its operations to roughly 50 cities across the United States.
Gallagher entered the Brazilian market in 2010 through the acquisition of Securitas Re based in São Paulo. By mid-2015, it was ranked third on Best's Review list highlighting the largest brokers worldwide.
The firm made its debut on the Fortune 500 list in June 2016 and held the 416th position as of June 2021.
In September 2020, Gallagher revealed it had experienced a ransomware attack that impacted its operations. The company was honored for its ethical business practices by Ethisphere for ten consecutive years as of February 2021.
Growth via acquisitions persisted with the July 2022 purchase of Canadian executive search company Four Corners Group Inc., followed by the October 2023 acquisition of Cadence Insurance from Cadence Bank for $904 million.
International business
During the first half of 2016, Arthur J. Gallagher & Co. (NYSE: AJG) demonstrated improved profit margins, achieving organic growth of 3.6% and reporting GAAP revenue of $939 million for Q2. Growth within the U.S. market was approximately 3%.
India
Arthur J. Gallagher India Limited was established in 2002 and operates service centers located in Bengaluru, Mumbai, Pune, Shivamogga, and Kolhapur.
Singapore
In 2011, Arthur J. Gallagher & Co. acquired ITI Solutions Pte Ltd., a Singapore-based specialist insurance brokerage focusing on marine cargo, political risk, trade credit risk, and specialty lines. This entity was rebranded as Gallagher Singapore.
Singapore branches: Singapore
Europe
In July 2016, Arthur J. Gallagher secured an 85% ownership stake in Brim AB, a Swedish specialist insurance and reinsurance brokerage generating $11.4 million in revenue with fewer than 30 employees at the time of acquisition. This move enhanced the company’s strategic presence in Scandinavia following its earlier purchase of Norwegian specialty broker Bergvall Marine AS in 2013.
United Kingdom
Between 2010 and 2012, operations within the UK expanded notably; by 2012, UK revenues represented 14% of total company income ($352.3 million), marking a growth of 137% since 2010. The U.S. market accounted for approximately 80% ($2 billion), growing by 24%, while Australia, Bermuda, and Canada combined contributed the remaining 6% ($161.9 million), up by 59%.
In September 2023, Arthur J. Gallagher & Co. acquired Lifesure Group Limited, a UK-based personal lines insurance broker; financial details were not disclosed.
Scotland branches: Aberdeen, Ayr, Dumfries, Dundee, Edinburgh, Fort William, Glasgow, Inverness, Kilwinning, Irvine, Newton Stewart, Stirling.
England branches: Birmingham, Bordon, Bournemouth, Brierly Hill, Bristol, Brixham, Chelmsford, Chester, Chichester, Coventry, Croydon, Exeter, Feering, Gloucester, Godalming, Guildford, High Wycombe, Horsham, Ipswich, Leatherhead, Leeds, Leicester, Liss, Liverpool, Newcastle, Norwich, Nottingham, Orpington, Poole, Portsmouth, Rickmansworth, Sevenoaks, Sheffield, Southampton, St. Austell, Swindon, Talbot Green, Wakefield, Wigan.
Channel Islands branches: Jersey, Guernsey, Alderney
Northern Ireland branches: Belfast
Wales branches: Cardiff, Llantrisant, Newport, Tonyrefail, Wrexham
Other branches: Isle of Man
In April 2018 Gallagher secured naming rights as title sponsor of Premiership Rugby—the premier division of England’s rugby union—beginning with the 2018–19 season.
Australia
Arthur J. Gallagher broadened its presence in Australia in 2014 by acquiring OAMPS Insurance Brokers and subsequently rebranding the company under its own name.
Australian offices: Adelaide, Alice Springs, Bacchus Marsh, Ballarat, Beenleigh, Bexley, Brisbane, Cairns, Canberra, Darwin, Dubbo, East Melbourne, Hobart, Horsham, Katherine, Launceston, Mulgrave, Newcastle, Sydney, Perth, Shepparton, Toowoomba, Townsville, Wagga Wagga, Wangaratta, Warragul, Wollongong.
New Zealand
In the same year, Arthur J. Gallagher expanded into New Zealand through the acquisition of Crombie Lockwood, a prominent nationwide insurance brokerage.
New Zealand offices: Auckland, Blenheim, Christchurch, Dunedin, Greymouth, Hamilton, Invercargill, Kaitaia, Kapiti, Kerikeri, Napier, Nelson, New Plymouth, Palmerston North, Queenstown, Takapuna, Taupō, Tauranga, Whanganui, Wellington, Whangārei.
Canada
Arthur J. Gallagher & Co. strengthened its Canadian operations in February 2015 by acquiring Ottawa-based Cohen & Lord Insurance Brokers Ltd. Later that year in November 2015, it added Christie Phoenix Ltd. and its affiliate Discovery Insurance Services Ltd., both located in Victoria, British Columbia. Christie Phoenix offers commercial property and personal insurance lines tailored to mid-market and individual clients throughout British Columbia.
In June 2016, Noraxis group of insurance brokers was rebranded as Arthur J. Gallagher Canada Limited.
For the seventh year running, the Ethisphere Institute honored Arthur J. Gallagher & Co. as one of the World's Most Ethical Companies.
Canadian offices: Calgary, Edmonton, Halifax, London, Markham, New Glasgow, Ottawa, Moncton, Hartland, Toronto, Montreal, Laval, Winnipeg.
United States
In August 2017, Arthur J. Gallagher & Co. acquired Ballard Benefit Works, Inc., an employee benefits insurance agency headquartered in Howell, Michigan.
By September 2023, the company reached an agreement to purchase Eastern Insurance Group—a subsidiary of Eastern Bank based in Natick, Massachusetts.
The firm further expanded in October 2023 with the acquisition of Meadowbrook Insurance Agency—a retail insurance broker located in Southfield, Michigan—for an undisclosed amount.
On April 3rd of 2023, Arthur J. Gallagher & Co. finalized the acquisition of BCHR Holdings L.P., operating under the name Buck.
Caribbean
Caribbean offices: Antigua; Bermuda; Barbados; Trinidad and Tobago; Dominica; Grenada; Jamaica; St. Lucia; St. Vincent and the Grenadines; St. Kitts and Nevis.
Brazil
In December 2022, Arthur J. Gallagher & Co. acquired Interbrok Group—a retail insurance brokerage headquartered in São Paulo—for an undisclosed sum.
Chile
Chile offices: Santiago and Viña del Mar.
Colombia
Colombian offices: Bogotá; Medellín; Cali; Barranquilla; Cartagena.