Arthur J. Gallagher & (AJG) Company Report

Arthur J. Gallagher & Co. acquired Hunt Financial Group, comprising Hunt Benefits & Associates and Tenaglia & Associates; terms undisclosed
Hunt Financial Group operates in Charlotte, NC, and Mount Pleasant, SC, providing consultative benefits solutions to banking industry clients
Founders Tim Hunt and Tom Tenaglia and their team will remain in place under Luke Kaplan, U.S. Financial and Retirement Services Managing Director
The acquisition expands Gallagher’s niche expertise within its employee benefits consulting operations

2 days ago

Press Release

Gallagher reports Q4 2025 results

AJG

Earnings

M&A

Guidance Update

Gallagher delivered >30% Q4 revenue growth with 5% organic growth, as brokerage segment revenue rose 38% and adjusted EBITDA margin reached 32.2% (+50 bps underlying).
Full-year 2025 combined brokerage and risk management achieved 21% revenue growth (6% organic), 26% adjusted EBITDA growth, margin expansion of 70 bps to 35%, and $3.5 billion in acquired annualized revenue.
Q4 risk management segment grew revenue 13% (7% organic) with a 21.6% adjusted EBITDA margin; 2026 guidance calls for ~7% organic growth and margins in the 21%-22% range.
Completed 7 acquisitions in Q4 adding $145 million of annualized revenue; full-year 2025 M&A drove >$3.5 billion acquired revenue and the pipeline includes 40+ term sheets (~$350 million).
2026 outlook: brokerage organic growth of ~5.5%, underlying margin expansion of 40-60 bps, and M&A integration on track to deliver planned synergies.

6 days ago

Transcript

Arthur J. Gallagher reports Q4 2025 adjusted margins and organic growth

AJG

Earnings

Guidance Update

Q4 2025 adjusted EBITDAC margin was 32.2% in the brokerage segment and 21.6% in the risk management segment.
Foreign currency translation had a $14 million tailwind to Q4 brokerage revenues and a $(2) million headwind to risk management revenues.
Integration costs in Q4 2025 amounted to $0.12 per share, and foreign currency contributed $0.01 per share to EPS.
The company forecasts full year 2025 organic revenue growth above 4% with potential for further margin expansion.

6 days ago

Presentation

Arthur J. Gallagher reports Q4 2025 results

AJG

Earnings

Guidance Update

M&A

Arthur J. Gallagher & Co. delivered >30% Q4 revenue growth, including 5% organic growth; adjusted EBITDA rose 30%, with brokerage segment revenue up 38% (organic 5%) and adjusted EBITDA margin of 32.2% (+50 bps).
Q4 global property casualty renewal premiums rose in low-single digits overall, with –5% in property, +5% in casualty (+7% US casualty) and +3% ex-property.
Gallagher Bassett (risk management) posted 13% Q4 revenue growth (organic 7%) and a 21.6% adjusted EBITDA margin; 2026 organic growth is guided to ~7% and margins to 21–22%.
Completed 7 acquisitions in Q4 with $145 M of annualized revenue; full-year 2025 acquisitions totaled >$3.5 B; M&A pipeline includes ~40 term sheets (~$350 M); AssuredPartners integration targets $160 M of run-rate synergies by end-2026 (up to $260–280 M by early-2028).
2026 outlook includes brokerage organic growth of ~5.5%, underlying margin expansion of 40–60 bps, cash taxes ~10% of EBITDA, and $10 B of M&A funding capacity over two years.

6 days ago

Transcript

Arthur J. Gallagher reports Q4 2025 results

AJG

Earnings

Guidance Update

M&A

Brokerage segment delivered 5% organic growth in Q4, while Gallagher Bassett risk management saw 13% revenue growth including 7% organic growth in the quarter.
The company guides full-year 2026 organic growth at ~5.5% for Brokerage and ~7% for Risk Management.
In Q4, AJG completed 7 acquisitions adding $145 million of annualized revenue; full-year 2025 acquired revenue exceeded $3.5 billion, and the M&A pipeline comprises over 40 term sheets (~$350 million).
Underlying Brokerage adjusted EBITDA margin expanded ~50 bps in Q4; AJG forecasts 40–60 bps of margin expansion in 2026. Gallagher Bassett posted a 21.6% adjusted EBITDA margin in Q4 with 2026 outlook of 21–22%.

6 days ago

Transcript

Arthur J. Gallagher & Co. announces Q4 and FY 2025 financial results

AJG

Earnings

Q4 2025 revenues before reimbursements were $3.586 billion, up from $2.679 billion in Q4 2024.
Q4 2025 net earnings were $154 million (diluted EPS $0.58), versus $258 million (EPS $1.12) in Q4 2024; on an adjusted basis, Q4 net earnings were $620 million (EPS $2.38).
Full year 2025 revenues before reimbursements totaled $13.778 billion, compared with $11.401 billion in 2024; reported net earnings were $1.503 billion (EPS $5.74).
Full year 2025 adjusted net earnings were $2.793 billion (adjusted EPS $10.69), up from $2.279 billion (EPS $10.10) in 2024.

6 days ago

8-K

Gallagher reports Q4 and full-year 2025 financial results

AJG

Earnings

M&A

Revenue Acceleration/Inflection

Q4 revenues of $3.586 billion, up over 30% year-on-year, with 5% organic growth, net earnings margin of 10.2% and adjusted EBITDAC margin of 30.8% in the quarter.
Full-year 2025 revenues reached $13.778 billion, a 21% increase (6% organic), with net earnings of $1.503 billion and adjusted net earnings of $2.793 billion; adjusted EBITDAC grew 26%.
Completed 33 acquisitions during 2025, adding over $3.5 billion in estimated annualized revenue, marking the 20th consecutive quarter of double-digit top-line growth.
Company enters 2026 with strong momentum under its organic and M&A-driven growth strategy.

6 days ago

Press Release

Arthur J. Gallagher & Co. increases dividend to $0.70 per share

AJG

Dividends

Board declares quarterly cash dividend of $0.70 per share, a $0.05 increase over the prior quarter
Dividend payable March 20, 2026, to shareholders of record as of March 6, 2026
Global insurance brokerage and risk management firm headquartered in Rolling Meadows, Illinois, with operations in approximately 130 countries

7 days ago

Press Release

Gallagher outlines growth strategy and 2026 guidance

AJG

Guidance Update

M&A

Gallagher pursues a two-pronged growth strategy of organic sales and M&A “to buy brains”, targeting a negligible share of the $4 trillion global non-life P&C premium market where it currently touches ~$200 billion of premium.
Integration of AssuredPartners (11,000 employees) is on track: 90% of offices visited, 500 in-person meetings held, with economics driving >20% revenue growth in 2026 and $160 million of run-rate synergies by end-2026.
Organic growth guidance: 5% in 4Q 2025 and 6% for full-year 2026 across global segments, including 5% in Americas P&C and 6% in Specialty.
Continued investment in data and analytics—Gallagher Drive now ingests $31 billion of premium data—to power the Core 360 advisory platform and enhance client benchmarking and retention.

Dec 16, 2025, 1:30 PM

Transcript

Gallagher provides 2025 guidance in investor update

AJG

Guidance Update

M&A

New Projects/Investments

Brokerage segment sees a full-year foreign currency tailwind of ~$52 million to revenues and a $0.03 EPS impact, with integration costs of $0.11 per share and an adjusted EBITDAC margin expected to expand organically over 4% in 2025.
Risk Management segment guidance calls for an EBITDAC margin of ~21%, minimal FX effects, workforce charges of $0.01 per share, and pretax amortization and depreciation of $23 million and $40 million, respectively, for full-year 2025.
Corporate segment adjusted net earnings attributable to controlling interests will reflect $159.5 million pretax interest and banking costs, $20 million of transaction-related adjustments, and related tax impacts in 2025.
Clean energy investments are projected to deliver net after-tax cash flows in excess of $180 million for 2025, with a tax credit carryforward balance of $706.3 million as of September 30, 2025.
Estimated synergies from the AssuredPartners acquisition—including revenue uplifts and cost savings—are expected to materialize within three years but remain subject to execution risk.

Dec 16, 2025, 1:30 PM

Presentation

Earnings Transcripts

Quarterly earnings call transcripts for Arthur J. Gallagher &.

Q4 2025

Jan 29, 2026

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Q3 2025

Oct 30, 2025

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Q2 2025

Jul 31, 2025

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Arthur J. Gallagher & (AJG)

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