Arthur J. Gallagher & Co. (AJG) Research

Forward Estimates

EPS Estimates

Current Qtr

$2.86

$2.72$2.93

vs $2.33+22.6%

19 analysts

Next Qtr

$3.09

$2.87$3.37

vs $2.32+33.1%

19 analysts

Current Yr

$13.27

$12.68$13.75

vs $10.69+24.1%

22 analysts

Next Yr

$14.86

$14.25$15.45

vs $13.27+12.0%

22 analysts

Revenue Estimates

Current Qtr

$4.03B

$3.98B$4.06B

vs $3.17B+27.2%

5 analysts

Next Qtr

$4.07B

$3.87B$4.27B

vs $3.33B+22.0%

5 analysts

Current Yr

$16.79B

$16.45B$17.07B

vs $13.75B+22.1%

9 analysts

Next Yr

$18.45B

$18.20B$18.74B

vs $16.79B+9.9%

9 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for AJG on EDGAR.

AJG filing events and research context
Filed	Item	Context
May 7, 2026	mda_quarterly	Arthur J. Gallagher & Co. reported first-quarter 2026 total revenues of $4.76 billion, up from $3.73 billion in the prior year, driven primarily by the acquisition of AssuredPartners and continued tuck-in M&A. The Brokerage segment, representing 90% of total revenue, grew 30% with 5% organic growth, while the Risk Management segment grew 14% with 10% organic growth. Growth is supported by strong customer retention and renewal premium increases, although U.S. casualty lines remain subject to cautious underwriting. Net earnings attributable to controlling interests rose to $822 million. Operating expenses increased due to acquisition integration and higher base compensation to support organic growth. A significant regulatory risk is the ongoing IRS promoter investigation into the company's IRC 831(b) micro-captive advisory services. The company maintains strong liquidity, generating $957 million in cash from operating activities, which supported a dividend increase to $0.70 per share and $310 million in common stock repurchases. AJG continues to expand its global footprint, particularly in the U.K., Australia, Canada, and New Zealand, while managing foreign currency translation volatility and the integration of nine new acquisitions completed during the quarter.
Feb 17, 2026	business	Arthur J. Gallagher & Co. (AJG) is a global leader in insurance brokerage, reinsurance, and third-party claims administration. Operating primarily through its brokerage (87% of 2025 revenue) and risk management (13% of 2025 revenue) segments, the company provides services to commercial, nonprofit, public sector, and individual clients. AJG does not assume underwriting risk, instead acting as an intermediary that connects clients with insurance and reinsurance capital providers. The brokerage segment is highly diversified, with 75% of its revenue derived from retail operations organized into specialized niche practice groups, such as healthcare, construction, and public sector. The company also maintains a significant global presence, with 33% of total revenue generated internationally, particularly in the U.K., Australia, Canada, and New Zealand. Growth is driven by a consistent M&A strategy—having completed approximately 780 acquisitions since 2002—alongside cross-selling and the development of alternative risk transfer mechanisms like captives. Key risks include seasonal revenue fluctuations, intense competition from other brokers and direct-writing carriers, and the increasing complexity of global regulatory compliance, particularly regarding data privacy, AI, and climate-related disclosures. The company leverages proprietary data platforms, Gallagher Drive and SmartMarket, to maintain a competitive advantage in a fragmented, highly regulated market.
Feb 17, 2026	mda	Arthur J. Gallagher & Co. (AJG) maintains a growth strategy heavily reliant on the acquisition of insurance brokers, benefit consulting firms, and third-party claims administration (TPA) providers. This inorganic growth model faces increasing pressure as competition from private equity firms and other consolidators drives up target valuations and integration complexity. The company’s financial performance is sensitive to global macroeconomic conditions, including interest rate fluctuations, inflation, and geopolitical instability, which can impact client risk-taking capacity and insurable asset values. Operational risks are concentrated in the company’s reliance on human capital and technology. AJG faces intense competition for talent, particularly in specialized fields like AI, data engineering, and claims management, with remote work further expanding the competitive landscape. The company is heavily investing in AI and data analytics to drive client value and internal efficiency, though these initiatives introduce risks related to data privacy, cybersecurity, and potential model bias. Regulatory compliance remains a significant cost driver, as the firm navigates a fragmented global landscape of insurance, securities, and data protection laws. Additionally, the company’s profitability is subject to the cyclical nature of insurance premiums and the unpredictability of contingent and supplemental revenues, which are tied to the performance of underwriting enterprises.

Filed

Item

Context

May 7, 2026

mda_quarterly

Arthur J. Gallagher & Co. reported first-quarter 2026 total revenues of $4.76 billion, up from $3.73 billion in the prior year, driven primarily by the acquisition of AssuredPartners and continued tuck-in M&A. The Brokerage segment, representing 90% of total revenue, grew 30% with 5% organic growth, while the Risk Management segment grew 14% with 10% organic growth. Growth is supported by strong customer retention and renewal premium increases, although U.S. casualty lines remain subject to cautious underwriting. Net earnings attributable to controlling interests rose to $822 million. Operating expenses increased due to acquisition integration and higher base compensation to support organic growth. A significant regulatory risk is the ongoing IRS promoter investigation into the company's IRC 831(b) micro-captive advisory services. The company maintains strong liquidity, generating $957 million in cash from operating activities, which supported a dividend increase to $0.70 per share and $310 million in common stock repurchases. AJG continues to expand its global footprint, particularly in the U.K., Australia, Canada, and New Zealand, while managing foreign currency translation volatility and the integration of nine new acquisitions completed during the quarter.

Feb 17, 2026

business

Arthur J. Gallagher & Co. (AJG) is a global leader in insurance brokerage, reinsurance, and third-party claims administration. Operating primarily through its brokerage (87% of 2025 revenue) and risk management (13% of 2025 revenue) segments, the company provides services to commercial, nonprofit, public sector, and individual clients. AJG does not assume underwriting risk, instead acting as an intermediary that connects clients with insurance and reinsurance capital providers. The brokerage segment is highly diversified, with 75% of its revenue derived from retail operations organized into specialized niche practice groups, such as healthcare, construction, and public sector. The company also maintains a significant global presence, with 33% of total revenue generated internationally, particularly in the U.K., Australia, Canada, and New Zealand. Growth is driven by a consistent M&A strategy—having completed approximately 780 acquisitions since 2002—alongside cross-selling and the development of alternative risk transfer mechanisms like captives. Key risks include seasonal revenue fluctuations, intense competition from other brokers and direct-writing carriers, and the increasing complexity of global regulatory compliance, particularly regarding data privacy, AI, and climate-related disclosures. The company leverages proprietary data platforms, Gallagher Drive and SmartMarket, to maintain a competitive advantage in a fragmented, highly regulated market.

Feb 17, 2026

mda

Arthur J. Gallagher & Co. (AJG) maintains a growth strategy heavily reliant on the acquisition of insurance brokers, benefit consulting firms, and third-party claims administration (TPA) providers. This inorganic growth model faces increasing pressure as competition from private equity firms and other consolidators drives up target valuations and integration complexity. The company’s financial performance is sensitive to global macroeconomic conditions, including interest rate fluctuations, inflation, and geopolitical instability, which can impact client risk-taking capacity and insurable asset values. Operational risks are concentrated in the company’s reliance on human capital and technology. AJG faces intense competition for talent, particularly in specialized fields like AI, data engineering, and claims management, with remote work further expanding the competitive landscape. The company is heavily investing in AI and data analytics to drive client value and internal efficiency, though these initiatives introduce risks related to data privacy, cybersecurity, and potential model bias. Regulatory compliance remains a significant cost driver, as the firm navigates a fragmented global landscape of insurance, securities, and data protection laws. Additionally, the company’s profitability is subject to the cyclical nature of insurance premiums and the unpredictability of contingent and supplemental revenues, which are tied to the performance of underwriting enterprises.

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AJG filing events and research context

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