Arthur J. Gallagher & Co.
 |
|
| Public | |
| Traded as | : AJG S&P 500 Component |
| Industry |
Brokerage Insurance |
| Founded | 1927 Itasca, Illinois |
| Founder | Arthur J. Gallagher |
| Headquarters | Rolling Meadows, Illinois, United States |
|
Key people
|
J. Patrick Gallagher Jr. chair,pres,ceo |
| Products |
Insurance Reinsurance |
| Revenue |
 $5,594.8 million (2016) |
|
$356.9 million (2016) |
|
|
$414.4 milion (2016) |
|
| Total assets |
$11,489.6 million (2016) |
| Total equity |
 $3,596.6 million (2016) |
|
Number of employees
|
24,790 (2016) |
| Divisions | Gallagher Benefit Services Gallagher Bassett Services Brokerage Services Division |
| Website | www |
Arthur J. Gallagher & Co. (AJG) is a US-based global insurance brokerage and risk management services firm headquartered at in Rolling Meadows, Illinois (a suburb of Chicago). The firm was established in 1927 and is the third largest insurance broker in the world.
The company dates back to 1927 when Arthur James Gallagher started a brokerage firm in Illinois. The end of World War II brought his three sons, John, James, and Robert, into the business. The company incorporated in 1950 when revenues were $175,000. In 1957, the firm won Beatrice Foods Company as a client.
Despite the stiff competition in a crowded domestic market that put steady downward pressure on property and casualty premiums during the 1990s and dating back to the late 1980s, the firm was still able to record double-digit growth in all but three years from 1990 through 2000, according to Investor's Business Daily.
Gallagher's purchased 16 smaller brokerages during 2000. The firm had grown its presence to include about 50 U.S. cities.
A history and the values of the firm were documented by Robert E. Gallagher and Alison Kittrell in a book called The Gallagher Way, published in 2005 by Marketing Counsel and iUniverse.
In 2010 Gallagher Brazil was established following the company's takeover of Securitas Re of São Paulo from Estater Gestao de Investimentos Ltda.
In July 2015 the firm was ranked third in the Best's Review world's largest brokers list.
In June 2016, it was announced that Gallagher had joined the Fortune 500 for the first time.
During the first second quarter and the first half of the year, the company improved their profitability margin and posted growth in revenue and in earnings per share. The second quarter of 2016 saw Arthur J. Gallagher & Co. (NYSE: AJG) post an overall organic growth of 3.6% with $939 million in revenue in reported GAAP. Domestically in the United States, the company saw about 3% organic growth.
Arthur J. Gallagher Asia Limited was incorporated in 2002.
Arthur J. Gallagher & Co. acquired Singapore-based ITI Solutions Pte Ltd. in 2011. ITI is a specialist insurance broker with expertise in marine cargo, political risk, trade credit risk, and specialty lines. ITI was rebranded as Gallagher Singapore.
Singapore branches: Singapore
In July 2016, Arthur J. Gallagher acquired an 85% stake in Swedish specialist insurance and reinsurance broker Brim AB. At the time of acquisition, the Scandinavian brokerage posted revenues of $11.4 million and employed under 30 people. Scandinavia is an area of strategic development for Arthur J. Gallagher and this deal bolstered their purchase of Norwegian specialty insurance broker Bergvall Marine AS in December 2013.
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Wikipedia