Arthur J. Gallagher & Co. has reported total revenue of $3.33 billion for the third quarter ended 30 September 2025, a 20% increase from $2.76 billion in the same period last year. Net earnings were $273.6 million, compared with $314.1 million a year earlier. Adjusted net earnings rose to $604.9 million, with adjusted EBITDAC of $1.02 billion and a 32.1% margin. Diluted earnings per share stood at $1.04, while adjusted EPS was $2.32.
Chair and CEO J. Patrick Gallagher Jr. said the company’s brokerage and risk management segments delivered their 19th consecutive quarter of double-digit revenue growth. Organic revenue rose 4.8%, supported by $450 million in incremental revenue from acquisitions. Gallagher said global insurance renewal premium changes “remain in positive territory” and noted that the company’s two-track growth model continues to show results.
The brokerage segment reported revenue of $2.92 billion, up from $2.40 billion last year, with adjusted EBITDAC of $981.6 million. The risk management segment generated $402 million in revenue and $87.6 million in adjusted EBITDAC. The company completed six acquisitions during the quarter, representing an estimated $3 billion in annualised revenue.
A major contributor to the quarter’s activity was the August 2025 completion of Gallagher’s $13.8 billion acquisition of AssuredPartners, one of the largest U.S. insurance broker transactions to date. The deal added 10,900 employees and expanded Gallagher’s middle-market property, casualty, and employee benefits operations across the United States.
Gallagher also announced the acquisition of Safe T Professionals through its subsidiary Gallagher Bassett. The Arizona-based firm provides environmental, health and safety management and staffing services in the construction and manufacturing sectors. In addition, Gallagher continued its international growth through the purchase of Chilean insurance broker Etchepare y Honorato, advised by law firm Philippi Prietocarrizosa Ferrero DU & Uría.
On October 29, the company declared a regular quarterly cash dividend of $0.65 per share, payable December 19 to shareholders of record on December 5. Gallagher reported total assets of $79.07 billion as of September 30, up from $64.26 billion at the end of 2024, partly reflecting the AssuredPartners integration.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, provides insurance brokerage, risk management, and consulting services in about 130 countries through its own operations and correspondent networks.
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