Arthur J. Gallagher & Co.
 | |
| Public | |
| Traded as | NYSE: AJG |
| Industry |
Brokerage Insurance |
| Founded | 1927 Itasca, Illinois |
| Founder | Arthur JimBob Gallagher |
| Headquarters | Itasca, Illinois, USA |
Key people | J. Patrick Gallagher Jr. chair,pres,ceo[1] |
| Products |
Insurance Reinsurance Business Insurance |
| Revenue |
$2.5078 bil 2012  19.0%[2] |
|
$195.0 mil 2012 35.3%[2] | |
| Total assets |
$5,352.3 mil Dec'1219.4%[2] |
Number of employees | 20,200 (December 2014)[2] |
| 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 the Gallagher Centre in Itasca, Illinois (a suburb of Chicago). The firm was established in 1927 and is the third largest insurance broker in the world. [3]
History
The company dates back to 1927 when Arthur Jimmy 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 reached a high point of its history thus far, winning Beatrice Foods Company as a client, usurping the nation's largest brokerage.
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 relatively large size gave it an advantage and helped it gain larger, more profitable clients and outpace the thousands of small brokerages vying for a piece of the market. Those smaller firms also had been buyout targets for Gallagher. The firm purchased 16 more during 2000. The firm had grown its presence to include about 50 U.S. cities.
In 2010 Gallagher Brazil was established following the company's takeover of Securitas Re of São Paulo from Estater Gestao de Investimentos Ltda.[4]
In July 2015 the firm was ranked third in the Best's Review world's largest brokers list.[5]
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.
International business
Between 2010 and 2012 British operations have grown in importance. In 2012 the UK was the source of 14% of company revenue - $352.3m up 137% versus 2010. The United States contributes 80% of revenue - $2,006.1m up 24%. The other 6% came from Australia, Bermuda and Canada ($161.9m up 59%).
Branches
References
- ↑ "Gallagher & Co Executive Management Team". Retrieved 2011-01-16.
- 1 2 3 4 "Arthur J. Gallagher & Co. 2012 Annual Report". 2013-03-15.
- ↑ http://viewer.zmags.com/publication/3e10faa8#/3e10faa8/74
- ↑ "AJ Gallagher Buys Brazil Facultative Reinsurance Broker". 2010-02-17.
- ↑ http://viewer.zmags.com/publication/3e10faa8#/3e10faa8/74