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Arthur J. Gallagher & Co. (AJG)

Gallagher sells insurance brokerage, reinsurance brokerage, consulting, and third-party property and casualty claims settlement and administration, around the world. It was founded in 1927 as a one-person insurance agency and reincorporated in Delaware in 1972; its executive offices are in Rolling Meadows, Illinois. According to Business Insurance magazine's June/July 2025 edition, ranked on revenues, it is the world's third largest insurance broker and risk manager; according to the same magazine's April/May 2025 edition it is one of the world's largest third party claims administrators for property and casualty.

Arthur J. Gallagher & Co.

Gallagher sells insurance brokerage, reinsurance brokerage, consulting, and third-party property and casualty claims settlement and administration, around the world. It was founded in 1927 as a one-person insurance agency and reincorporated in Delaware in 1972; its executive offices are in Rolling Meadows, Illinois. According to Business Insurance magazine's June/July 2025 edition, ranked on revenues, it is the world's third largest insurance broker and risk manager; according to the same magazine's April/May 2025 edition it is one of the world's largest third party claims administrators for property and casualty.

The line it does not cross

The most important sentence in the filing is about what Gallagher does not do. It does not assume underwriting risk on a net basis, beyond the minimal amounts needed to provide minimum or regulatory capital when organising captives, pools, specialised underwriters or risk-retention groups. The capital that actually covers a loss comes from what the company calls underwriting enterprises: insurance companies, reinsurance companies and other risk-taking entities, including intermediaries, which Gallagher neither owns nor controls. So the business earns fees and commissions for placing and administering risk rather than profits or losses from carrying it.

Three segments

Brokerage provides broking and consulting to organisations of every type, including commercial and nonprofit bodies, public sector entities, insurance companies and insurance capital providers, and to a lesser degree individuals. The work covers insurance and reinsurance placement, managing risk of loss, and managing employer-sponsored benefit programmes.

Risk management provides contract claim settlement, claim administration, loss control and risk management consulting, for commercial, nonprofit, captive and public sector bodies and other organisations that either self-insure their property and casualty cover or prefer a third-party claims manager to the claims service an insurer would provide.

Corporate is the third segment, and the filing states it did not generate any significant revenues in 2025.

Where the business sits

The brokerage segment is much the larger of the two operating segments, with risk management the smaller. Most of the business is in the United States, and the international side is mostly Australia, Canada, New Zealand and the United Kingdom.

The company states that it believes its major strength is its ability to deliver comprehensively structured insurance, reinsurance and risk management solutions, claim outcomes and consulting services to its clients.

From Gallagher's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Arthur J. Gallagher became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 5 November 2026
Revenue
$4.0 billion
+18.1% on the year · -0.7% on the quarter
Q4 FY2024Q3 FY2026
Net income
$403 million
+48.2% on the year · +24.4% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.55
+49.0% on the year · +24.0% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 17 February 2026
Revenue
$13.9 billion
+20.7% on the year
FY2018FY2025
Net income
$1.5 billion
+2.1% on the year
FY2018FY2025
Diluted EPS
$5.74
-11.7% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsArthur J. Gallagher (AJG) reported revenue of $13.9 billion for fiscal 2025, the year ended 31 December 2025, up 20.7% on the year before. Net income was $1.5 billion and diluted earnings per share $5.74. Revenue was $11.6 billion in fiscal 2024, $10.1 billion in fiscal 2023, $8.6 billion in fiscal 2022 and $8.2 billion in fiscal 2021. Net income in the same years was $1.5 billion, $970 million, $1.1 billion and $907 million. Over the twelve months to 30 September 2026, Arthur J. Gallagher reported revenue of $16.4 billion and net income of $1.7 billion. Revenue grew 14.8% a year, compounded, over the five years to fiscal 2025. Arthur J. Gallagher declared $2.75 a share in dividends over the last four quarters and had 256 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Arthur J. Gallagher was $72.2 billion, 43.1 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE7.1%
ROCE5.8%
Operating margin13.1%
Net margin10.4%
FCF margin17.6%
Interest cover3.3x
Debt to equity0.54x
Cash conversion1.80x
Share count, last 12 months-0.2%
Sales CAGR, 3 years17.7%
Profit CAGR, 3 years10.3%
EPS, TTM$6.54

At the close of 6 November 2026

Price$281.60
Market cap$72.2 billion
Stock P/E43.1x
Price to book3.0x
EV / EBITDA23.6x
Dividend yield1.0%
Market cap / sales4.4x
52-week high$288.44
52-week low$192.00
Price, 1 year14.8%
Price CAGR, 3 years4.9%
Price CAGR, 5 years11.9%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the total debt Arthur J. Gallagher & Co. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
AJGgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022 †Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025 †Q4 FY2025 * †Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,9732,4352,0432,0442,0282,7062,4422,4922,4323,2572,7752,8072,7163,7273,2213,3663,6284,7584,0033,976
Cost of revenue22922.90.00.00.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Gross profit1,7442,4122,0432,0442,028n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Gross margin88%99%100%100%100%n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Operating income113538352315122606297364-82.27733664033338734713471801,043414515
Operating margin6%22%17%15%6%22%12%15%-3%24%13%14%12%23%15%10%5%22%10%13%
Interest expense61.563.964.664.464.067.977.872.878.292.294.392.9102158158161161158168168
Pre-tax income113538352315122606297364-82.27733664033338734733461801,043414515
Tax rate-7%18%19%19%-11%20%21%22%n/a21%22%22%23%19%22%21%14%21%22%21%
Net income109439284256136486234281-32.2608283313258704368272151822324403
Net margin6%18%14%13%7%18%10%11%-1%19%10%11%10%19%11%8%4%17%8%10%
Diluted EPS$0.47$2.05$1.33$1.19$0.62$2.24$1.07$1.28-$0.15$2.74$1.27$1.39$1.12$2.72$1.40$1.04$0.58$3.16$1.25$1.55
Operating cash flow5632173341,15720042812.4897694789120935739872-42673175395710.01,343
Capital expenditure25.437.753.449.242.429.759.158.846.029.731.836.843.628.039.437.839.636.051.048.0
Free cash flow5381792801,108158399-46.783864876087.7898696844-466694713921-41.01,295
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/a0.00.00.0n/a310170100
Dividends paid99.8107107108108117118119119131131132132166167167168180179180
Shares outstanding208m210m210m211m212m214m216m216m217m218m219m219m250m256m256m257m257m257m256m256m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009FY2010 †FY2011 †FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Revenue1,6451,7291,8642,1352,5203,1804,6265,3925,6806,2496,9347,1957,0048,2098,55110,07211,55513,94216,365
Cost of revenuen/an/a64.032.01124371,059n/a1,4091,6361,8161,3538821,17322.9n/an/an/an/a
Gross profitn/an/a1,8002,1032,4092,7423,568n/a4,2724,6135,1185,8426,1227,0368,528n/an/an/an/a
Gross marginn/an/a96.6%98.5%95.6%86.2%77.1%n/a75.2%73.8%73.8%81.2%87.4%85.7%99.7%n/an/an/an/a
Operating income1642112032082452912922943343604796268719751,3271,1851,8751,8712,152
Operating margin9.9%12.2%10.9%9.7%9.7%9.2%6.3%5.4%5.9%5.8%6.9%8.7%12.4%11.9%15.5%11.8%16.2%13.4%13.1%
Interest expense28.628.534.640.843.050.189.0103110124138180196226257297381639655
Pre-tax income1642112032082452912922943343604796268719751,3271,1851,8751,8712,152
Income tax52.278.039.763.750.36.4-36.0-95.6-96.7-157-196-89.712.820.1211219404368445
Effective tax rate31.9%36.9%19.6%30.7%20.5%2.2%-12.3%-32.6%-29.0%-43.7%-41.0%-14.3%1.5%2.1%15.9%18.5%21.6%19.7%20.7%
Net income77.31291741441952693033573974816346698199071,1149701,4631,4941,700
Net margin4.7%7.4%9.3%6.8%7.7%8.4%6.6%6.6%7.0%7.7%9.1%9.3%11.7%11.0%13.0%9.6%12.7%10.7%10.4%
Diluted EPS$0.82$1.28$1.66$1.28$1.59$2.06$1.97$2.06$2.22$2.64$3.40$3.52$4.20$4.37$5.19$4.42$6.50$5.74$6.54
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Brokerage1,2761,3411,5561,8282,1262,8963,3243,5023,8154,2474,9025,1675,9687,3048,6379,93412,19287.4%
Risk Management4534625495726296827278308739409779731,1011,2231,4331,6051,74912.5%
Corporate-0.161.529.41214241,0481,3411,3491,5601,7471,3168631,14123.72.016.01.0under 0.1%
BrokerageRisk ManagementCorporate FY2010 to FY2025
1.9FY20103.2FY20135.7FY20167.2FY20198.6FY202213.9FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Corporate is below zero in FY2009 as the 10-K filed it, so it has no share or block for that year.

Profit by segment FY2009 to FY2025

The profit before tax each segment reports. Costs Arthur J. Gallagher does not charge to a segment are left out, so the segments can add up to more than the company's own profit before tax.

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Brokerage2022232292593274154135296367649461,1421,3461,5961,5712,2592,75922.6%
Risk Management48.651.652.468.476.167.492.391.290.195.788.489.412015720923824914.2%
Corporate-39.8-71.8-73.4-81.9-112-191-212-287-366-380-409-361-490-427-595-622-1,137n/a
BrokerageRisk ManagementCorporate
203FY2010291FY2013334FY2016626FY20191,327FY20221,871FY2025

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Brokerage87%92%
Risk Management13%8%
Corporateunder 1%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a profit before tax figure. A margin is a segment's profit before tax over its own sales.

Revenue by region FY2010 to FY2025

FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States1,6141,7252,0062,5343,4434,0414,3894,8395,3785,3795,0495,8575,5576,4277,4289,39167.4%
United Kingdomn/a2603464287267676887107749631,0341,2451,5881,9932,2252,47717.8%
Other foreignn/an/an/a31.554.668.298.01271491672022464515737018866.4%
Australian/an/a1211532372572432692912993143764114675755864.2%
Canadan/an/a32.132.685.01371361541852262493083624044163952.8%
NZn/an/an/a1.581.31231261501581611541771812082102071.5%
Foreign, principally Australia, Canada and the U.K.251n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Other Foreign, Principally Australia and Canadan/a149n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Other Foreign, Principally Bermudan/an/a14.7n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
United StatesUnited Kingdom FY2011 to FY2025Other foreign FY2013 to FY2025Australia FY2012 to FY2025Canada FY2012 to FY2025NZ FY2013 to FY2025Other Foreign, Principally Bermuda FY2012Other Foreign, Principally Australia and Canada FY2011Foreign, principally Australia, Canada and the U.K. FY2010
2.1FY20113.2FY20135.4FY20156.2FY20177.2FY20198.2FY202110.1FY202313.9FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

Follow the cashA discounted cash flow: five years of free cash flow, added up in today's moneyNot for Arthur J. Gallagher: an insurer's operating cash flow includes premiums it holds to pay claims later, so it is not cash the owners can take out. Book value and return on equity, in the ratios above, are the usual measures for it.

FY2008FY2009FY2010 †FY2011 †FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Operating cash flow161212230284343350n/an/a6508547651,1911,8071,3921,3902,0322,5831,9303,063
Capital expenditure32.023.525.145.951.093.681.599.021812912413999.3129183194142145175
Free cash flow129188204238292256n/an/a4327256411,0521,7081,2641,2071,8382,4411,7852,888
Free cash flow margin7.8%10.9%11.0%11.2%11.6%8.1%n/an/a7.6%11.6%9.2%14.6%24.4%15.4%14.1%18.2%21.1%12.8%17.6%
Cash from investing-262-94.6-92.6-311-382-852n/an/a-485-511-910-1,448-471-3,432-1,005-3,293-1,587-15,876-1,707
Cash from financing40.0-105-96.265.645.9503n/an/a-11.6-47.8162638-5052,9962132,87413,0531,713-898
Depreciation and amortisation73.785.693.11151401792593343513864194745625666006968421,1221,408
Share-based compensation11.49.99.014.37.57.710.611.214.717.313.714.013.613.424.431.042.049.066.7
Buybacks1.31.00.81.21.5n/an/an/a10117.711.3n/an/an/an/an/an/an/an/a
Dividends paid118128134146204183223258272283302321347392430474525667706
Dividend per share$1.28$1.28$1.28$1.32$1.36$1.40$1.44$1.48$1.52$1.56$1.64$1.72$1.80$1.92$2.04$2.20$2.40$2.60n/a
Diluted shares, weightedn/a100m105m112m121m129m153m172m178m180m183m186m191m203m210m215m220m256m257m
Shares outstanding at period endn/a102m108m115m126m134m165m177m178m181m184m188m194m208m212m217m250m257m256m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009FY2010 †FY2011 †FY2012FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity7388931,1071,2441,6592,0863,2293,6383,5974,2364,4995,1566,1868,5089,14410,77520,15423,32124,038
Non-controlling interestn/an/an/an/a14.229.375.749.959.264.170.860.046.551.746.640.026.026.033.0
Short-term borrowingsn/an/an/a10.0129630140245578290365n/an/an/an/an/an/an/an/a
Debtn/a5505506757258252,1252,0752,1452,6923,0914,6074,5456,2846,4657,96513,15712,97012,971
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a341321309300352328515518
Other liabilitiesn/a1,8071,9392,5552,8263,2904,4404,9067,1507,6288,3089,47211,23318,08322,40332,48330,59033,83341,504
Total liabilities and equityn/a3,2503,5964,4845,3526,86010,01010,91413,52814,91016,33419,63522,33133,23638,35851,61664,25570,66579,064
Owned
Fixed assetsn/a80.775.891.3105160195249378412437467451501576726650789757
Goodwilln/a7428841,1551,4732,1453,4503,6633,7534,1654,6265,6186,1278,6669,48911,47612,27022,59323,385
Intangible assetsn/a4384845628101,0791,7761,6991,6271,6451,7732,3192,4003,9543,3724,6334,53010,68410,202
Cash and equivalents19420625029130229831448054668160760566540373897214,9871,3961,213
Receivablesn/an/an/an/an/an/an/an/an/an/an/an/an/an/a2,9113,7873,8965,1755,977
Other assetsn/a1,7831,9032,3842,6623,1784,2754,8237,2258,0078,89110,62512,68919,71221,27130,02227,92130,02837,530
Total assetsn/a3,2503,5964,4845,3526,86010,01010,91413,52814,91016,33419,63522,33133,23638,35851,61664,25570,66579,064
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded10.0%14.8%17.7%25.6%
Profit growth, compounded15.4%12.8%10.3%6.1%
Return on equity, average10.8%9.1%7.6%6.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Arthur J. Gallagher's revenue in fiscal 2025?

Arthur J. Gallagher (AJG) reported revenue of $13.9 billion for fiscal 2025, the year ended 31 December 2025, up 20.7% on the year before.

How much did Arthur J. Gallagher earn in fiscal 2025?

Net income was $1.5 billion for fiscal 2025, and diluted earnings per share $5.74.

What is Arthur J. Gallagher's P/E ratio?

At the close of 6 November 2026, Arthur J. Gallagher traded at 43.1 times its earnings over the twelve months to 30 September 2026.

What is Arthur J. Gallagher's market cap?

The market cap of Arthur J. Gallagher was $72.2 billion at the close of 6 November 2026.

Does Arthur J. Gallagher pay a dividend?

Yes. Arthur J. Gallagher declared $2.75 a share in dividends over the four quarters to 30 September 2026.

Peers: Insurance

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Marsh & McLennan Companies, Inc. MRSH$97.3 billion24.4927.1%21.4%7.6%1.271.8%
Arthur J. Gallagher & Co. AJG$72.2 billion43.067.1%13.1%25.6%0.541.0%
Aon plc AON$71.0 billion18.3438.9%26.3%3.8%2.610.9%
Willis Towers Watson plc WTW$30.3 billion20.0720.1%22.0%4.8%0.841.2%
Brown & Brown, Inc. BRO$23.6 billion22.829.7%n/a26.1%0.620.9%
Equitable Holdings, Inc. EQH$14.1 billion10.11n/a16.3%8.6%n/a2.2%
Erie Indemnity Co. ERIE$12.6 billion24.7822.6%17.9%2.0%n/a2.1%
Enact Holdings, Inc. ACT$6.3 billion9.6713.1%68.5%2.5%0.141.9%
Hagerty, Inc. HGTY$6.2 billionn/a23.4%4.5%-0.9%0.96n/a
Accelerant Holdings ARX$4.3 billionn/a-180.6%-110.8%n/a0.17n/a
Corvel Corp. CRVL$4.2 billion34.9428.2%n/a8.3%n/an/a
Neptune Insurance Holdings Inc. NP$3.9 billion90.02n/a41.3%n/an/an/a
All 112 in Insurance
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Berkshire Hathaway Inc. BRK.B$1.23 trillion14.3611.5%15.0%3.9%n/an/a
UnitedHealth Group Inc. UNH$353.2 billion22.5115.3%5.3%3.3%0.712.3%
Chubb Ltd. CB$139.6 billion12.7715.3%22.3%5.7%0.251.1%
Progressive Corp. PGR$132.0 billion11.4833.7%16.0%7.7%0.246.1%
Marsh & McLennan Companies, Inc. MRSH$97.3 billion24.4927.1%21.4%7.6%1.271.8%
Elevance Health, Inc. ELV$92.0 billion18.1511.5%2.7%3.6%0.691.6%
Travelers Companies, Inc. TRV$81.0 billion10.3128.7%21.2%1.1%0.341.2%
Cigna Group CI$77.4 billion12.9613.8%3.4%6.8%0.722.1%
Manulife Financial Corporation MFC *$72.5 billion19.6611.1%n/an/a0.153.3%
Arthur J. Gallagher & Co. AJG$72.2 billion43.067.1%13.1%25.6%0.541.0%
Aon plc AON$71.0 billion18.3438.9%26.3%3.8%2.610.9%
Allstate Corp. ALL$63.4 billion5.7735.9%21.1%5.1%0.231.7%
Metlife Inc. MET$62.0 billion12.8023.1%8.2%14.8%0.642.4%
Aflac Inc. AFL$61.5 billion18.2412.0%25.9%-6.2%0.281.9%
Humana Inc. HUM$52.1 billion42.176.6%1.5%22.0%0.660.8%
Prudential Financial Inc. PRU$40.9 billion10.8613.1%7.8%6.5%0.674.7%
American International Group, Inc. AIG$40.3 billion12.668.5%14.5%1.2%0.222.4%
Sun Life Financial Inc. SLF *$39.6 billion16.2414.5%n/a8.0%0.333.7%
Hartford Insurance Group, Inc. HIG$35.8 billion8.1124.4%18.2%6.2%0.231.8%
Arch Capital Group Ltd. ACGL$34.9 billion8.7819.0%25.9%-3.9%0.194.7%
Centene Corp. CNC$34.5 billion23.886.6%0.5%9.7%0.70n/a
Everest Group, Ltd. EG$30.6 billion8.6913.3%13.9%-8.7%n/a1.9%
Willis Towers Watson plc WTW$30.3 billion20.0720.1%22.0%4.8%0.841.2%
Cincinnati Financial Corp. CINF$28.5 billion10.8816.5%24.8%9.9%0.052.0%
W. R. Berkley Corp. WRB$27.9 billion15.9119.4%n/a1.5%n/a2.5%
Markel Group Inc. MKL$23.7 billion13.779.7%15.7%2.5%0.24n/a
Principal Financial Group Inc. PFG$23.6 billion12.3516.7%14.7%5.2%0.372.9%
Brown & Brown, Inc. BRO$23.6 billion22.829.7%n/a26.1%0.620.9%
Loews Corp. L$22.2 billion15.208.1%10.8%2.8%0.460.2%
Reinsurance Group of America Inc. RGA$17.0 billion10.1214.7%8.0%22.5%0.461.4%
Assurant, Inc. AIZ$15.1 billion14.4517.9%9.8%9.4%n/a1.1%
Corebridge Financial, Inc. CRBG$15.0 billion7.3132.7%16.6%13.3%0.832.9%
Globe Life Inc. GL$14.5 billion10.5317.9%23.3%5.6%0.450.8%
Renaissancere Holdings Ltd. RNR$14.2 billion9.7813.8%30.1%-20.9%0.210.5%
Equitable Holdings, Inc. EQH$14.1 billion10.11n/a16.3%8.6%n/a2.2%
CNA Financial Corp. CNA$12.8 billion12.4710.1%8.5%2.1%0.248.2%
American Financial Group Inc. AFG$12.8 billion12.6121.6%15.2%3.3%0.394.5%
Erie Indemnity Co. ERIE$12.6 billion24.7822.6%17.9%2.0%n/a2.1%
Unum Group UNM$11.9 billion54.432.3%2.4%-4.2%0.352.5%
Fidelity National Financial, Inc. FNF$11.7 billion11.2114.2%17.0%6.4%0.594.7%
Molina Healthcare, Inc. MOH$10.8 billionn/a-1.2%0.4%-0.9%0.91n/a
Oscar Health, Inc. OSCR$9.5 billion12.6638.5%5.4%54.8%0.19n/a
Old Republic International Corp. ORI$9.5 billion8.9218.8%13.8%12.5%n/a9.2%
Voya Financial, Inc. VOYA$8.9 billion15.9216.4%8.9%-0.3%0.551.9%
Primerica, Inc. PRI$8.9 billion11.4828.2%29.4%8.3%0.211.6%
Jackson Financial Inc. JXN$8.7 billion10.7310.4%56.7%34.1%0.332.7%
Kinsale Capital Group, Inc. KNSL$8.6 billion16.7227.4%33.7%8.3%0.120.2%
Hanover Insurance Group, Inc. THG$8.3 billion11.6121.8%15.2%5.0%0.25n/a
Axis Capital Holdings Ltd. AXS$7.6 billion8.0616.1%17.5%9.8%0.211.7%
Lincoln National Corp. LNC$7.6 billion2.4835.2%20.0%10.3%0.684.5%
First American Financial Corp. FAF$6.8 billion9.4413.6%11.9%14.1%n/a3.3%
Enact Holdings, Inc. ACT$6.3 billion9.6713.1%68.5%2.5%0.141.9%
RLI Corp. RLI$6.3 billion15.9323.3%25.8%4.6%0.183.9%
Hagerty, Inc. HGTY$6.2 billionn/a23.4%4.5%-0.9%0.96n/a
Selective Insurance Group Inc. SIGI$5.9 billion11.9514.8%11.9%4.0%0.261.7%
Mgic Investment Corp. MTG$5.8 billion8.8914.3%73.2%-2.2%n/a2.2%
Essent Group Ltd. ESNT$5.6 billion8.6712.2%59.2%9.6%n/a2.1%
White Mountains Insurance Group Ltd. WTM$5.4 billion5.9518.1%30.7%44.9%0.170.0%
CNO Financial Group, Inc. CNO$5.1 billion12.6618.0%14.8%2.3%0.581.2%
Radian Group Inc. RDN$4.7 billion8.8112.0%38.3%65.3%0.132.8%
Mercury General Corp. MCY$4.6 billion7.1222.9%12.9%5.4%0.201.5%
Accelerant Holdings ARX$4.3 billionn/a-180.6%-110.8%n/a0.17n/a
Corvel Corp. CRVL$4.2 billion34.9428.2%n/a8.3%n/an/a
Palomar Holdings, Inc. PLMR$4.1 billion19.5122.0%22.8%58.5%0.30n/a
Neptune Insurance Holdings Inc. NP$3.9 billion90.02n/a41.3%n/an/an/a
Hamilton Insurance Group, Ltd. HG$3.6 billion7.0631.2%28.3%14.8%0.05n/a
Assured Guaranty Ltd. AGO$3.2 billion10.406.0%33.8%-4.2%0.322.0%
Genworth Financial Inc. GNW$3.2 billion67.000.6%3.3%-0.6%0.17n/a
Lemonade, Inc. LMND$3.1 billionn/a-30.6%-12.6%69.5%n/an/a
F&G Annuities & Life, Inc. FG$3.1 billion3.1023.8%n/a-0.4%0.514.3%
Slide Insurance Holdings, Inc. SLDE$3.0 billion5.8944.8%50.4%n/a0.02n/a
SiriusPoint Ltd. SPNT$3.0 billion6.4022.5%17.6%18.1%0.30n/a
Baldwin Insurance Group, Inc. BWIN$3.0 billionn/a-9.2%-6.9%18.9%2.67n/a
NMI Holdings, Inc. NMIH$2.9 billion7.6614.5%68.1%6.9%n/an/a
Skyward Specialty Insurance Group, Inc. SKWD$2.7 billion14.0715.0%13.5%35.3%0.33n/a
Porch Group, Inc. PRCH$2.6 billion246.38127.2%7.7%23.4%53.60n/a
Clover Health Investments, Corp. CLOV$2.6 billion483.003.2%0.5%54.5%0.00n/a
Brighthouse Financial, Inc. BHF$2.5 billion4.3713.6%14.0%-9.4%0.63n/a
HCI Group, Inc. HCI$2.3 billion7.5229.3%49.6%20.1%0.030.9%
Horace Mann Educators Corp. HMN$2.2 billion12.4112.5%12.5%4.2%0.422.7%
Goosehead Insurance, Inc. GSHD$2.0 billion40.58n/a23.3%17.7%n/an/a
Kemper Corp. KMPR$2.0 billionn/a-22.6%n/a-4.5%0.433.8%
Trupanion, Inc. TRUP$1.6 billion60.316.7%1.8%11.4%0.26n/a
Alignment Healthcare, Inc. ALHC$1.5 billion56.3810.4%0.9%35.9%1.17n/a
Safety Insurance Group Inc. SAFT$1.5 billion21.828.2%7.0%4.6%0.063.5%
Twfg, Inc. TWFG$1.5 billion47.5117.4%17.3%36.2%0.05n/a
Stewart Information Services Corp. STC$1.4 billion11.777.2%5.2%20.5%0.394.5%
Universal Insurance Holdings, Inc. UVE$1.3 billion5.8336.0%19.0%5.5%0.151.3%
United Fire Group Inc. UFCS$1.2 billion9.1014.6%11.5%11.6%0.161.6%
Ategrity Specialty Insurance Co. Holdings ASIC$1.2 billion12.1715.0%24.4%n/an/a0.0%
Bowhead Specialty Holdings Inc. BOW$1.1 billion19.1513.3%11.7%23.8%0.33n/a
Heritage Insurance Holdings, Inc. HRTG$983 million4.6736.1%34.1%2.3%0.12n/a
Hippo Holdings Inc. HIPO$929 million28.826.8%6.2%20.6%n/an/a
Employers Holdings, Inc. EIG$832 million25.993.5%4.1%-13.0%0.162.8%
Donegal Group Inc. DGICA$701 million10.0210.5%8.9%-3.4%n/a4.0%
Root, Inc. ROOT$659 million9.1324.8%6.7%7.9%0.60n/a
Ethos Technologies Inc. LIFE$558 millionn/a-23.0%-16.1%n/an/an/a
Crawford & Co. CRD-A$554 million21.9414.1%3.9%-3.6%0.81n/a
American Integrity Insurance Group, Inc. AII$528 million5.9923.8%36.2%29.3%0.00n/a
Greenlight Capital RE, Ltd. GLRE$522 million9.458.4%8.8%3.7%0.01n/a
Investors Title Co. ITIC$483 million11.9814.1%17.7%8.7%n/a4.1%
American Coastal Insurance Corp. ACIC$475 million5.7424.5%37.7%-5.3%0.427.5%
Amerisafe Inc. AMSF$363 million9.1017.0%15.0%7.7%n/a8.3%
NI Holdings, Inc. NODK$311 million21.266.1%7.7%-12.9%0.01n/a
Kingstone Companies, Inc. KINS$296 million7.1230.7%21.2%24.5%0.030.8%
Mbia Inc. MBI$235 millionn/an/a-155.2%18.0%n/an/a
Kingsway Corp. KWY$230 millionn/a-79.5%0.7%23.6%5.13n/a
Octave Specialty Group Inc. OSG$226 millionn/a-23.0%-24.3%26.8%0.22n/a
Citizens, Inc. CIA$208 million25.694.0%3.8%4.1%n/an/a
James River Group Holdings, Inc. JRVR$180 million10.145.8%3.8%-1.8%n/a1.0%
Roadzen Inc. RDZN$100 millionn/an/a-21.6%30.5%n/an/a
Ryan Specialty Holdings, Inc. RYANn/an/a23.4%15.6%9.8%8.231.1%
18 companies share its SEC industry code (Insurance Agents, Brokers & Service); the rest are the names nearest in size in its wider industry, Insurance, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on AJG

Dividends$2.75 a share over the four quarters to 30 September 2026, a 0.98% yield
Filings20 in twelve months: 11 current reports (8-K), about 7 regulation FD disclosure; 4 results of operations; 2 officer or director change; 1 other events; 1 shareholder vote
Planned insider sales22 Form 144 notices in twelve months, $57.3 million; latest 4 November 2026
Options tapeput/call 0.66 by open interest at the 6 November 2026 close; the straddle prices a 5.5% move to 20 November 2026
13F holders1,297 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading18 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest7.1 million shares short, 5.13 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20265 November 2026EDGAR
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q30 September 202510 November 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20252 May 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 202429 October 2024EDGAR
10-Q30 June 202426 July 2024EDGAR

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