Arthur J. Gallagher & Co. (NYSE: AJG) is an insurance brokerage and risk management company that places commercial and personal insurance coverage on behalf of clients and administers claims for self-insured entities. Revenue comes primarily from commissions and fees paid by insurers and clients for brokerage services, with a secondary stream from risk management fees tied to claims administration and loss control services. AJG operates across two reportable segments: Brokerage and Risk Management, as disclosed in its 10-K filed February 17, 2026 (accession 0001628280-26-008662) for the fiscal year ended December 31, 2025. The company is headquartered in Rolling Meadows, Illinois and was founded by Arthur J. Gallagher in 1927. It competes with Marsh & McLennan, Aon, Willis Towers Watson, and a large number of regional and specialty brokers. AJG has pursued an active acquisition strategy to expand its brokerage footprint domestically and internationally.

Revenue model

Commission and fee income from placing insurance coverage for clients (Brokerage segment) and fees for claims administration and loss control services for self-insured and captive clients (Risk Management segment).

Products and services

Commercial property and casualty insurance brokerage, employee benefits brokerage, personal lines insurance placement, claims management, loss control consulting, third-party claims administration for self-insured entities.

Customers and end markets

Commercial enterprises, public sector entities, non-profits, and self-insured organizations seeking property/casualty coverage, employee benefits, and claims administration services.

Value-chain role

Intermediary between insurance carriers and policyholders; earns commissions from insurers and fees from clients without taking underwriting risk.

Geographic exposure

United States (primary market) with international operations; specific revenue mix by geography not supported by available filing excerpts.

Competitors

Marsh & McLennan, Aon, Willis Towers Watson

Source: SEC 10-K, filed 2026-02-17

Industry: Insurance Agents, Brokers & Service Peers: Hagerty Inc Brown & Brown Inc Baldwin Insurance Group, Inc Goosehead Insurance Inc Hippo Holdings Inc Marsh & McLennan Companies Inc Ryan Specialty Holdings Inc SelectQuote Inc