Arthur J. Gallagher & Co. (AJG): Canvas du modèle commercial [Jan-2025 Mise à jour]

Dans le monde dynamique de l'assurance et de la gestion des risques, Arthur J. Gallagher & Co. (AJG) est un acteur formidable, transformant des défis commerciaux complexes en opportunités stratégiques. Avec une toile de modèle commercial sophistiqué qui s'étend sur les marchés mondiaux, l'AJG fournit des solutions complètes qui vont au-delà du courtage d'assurance traditionnelle. Des entreprises moyennes de marché aux sociétés internationales, leur approche innovante combine une expertise approfondie de l'industrie, des technologies de pointe et des services personnalisés pour redéfinir la façon dont les entreprises gèrent les risques et protègent leurs actifs les plus précieux.

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: partenariats clés

Compagnies d'assurance et souscripteurs

En 2024, Arthur J. Gallagher & Co. maintient des partenariats avec plus de 500 compagnies d'assurance mondiales, notamment:

Transporteur	Détails du partenariat	Volume de placement annuel
Aig	Partenariat mondial de gestion des risques	1,2 milliard de dollars
Chubb Limited	Collaboration d'assurance spécialisée	890 millions de dollars
Travelers Companies Inc.	Réseau d'assurance commerciale	1,05 milliard de dollars

Réseau mondial de courtiers d'assurance indépendants

AJG fonctionne avec un réseau de:

• 7 500 courtiers d'assurance indépendants dans le monde
• Présence dans 49 pays
• Revenus de la Commission annuelle du réseau de courtiers: 425 millions de dollars

Fournisseurs de technologie pour les plateformes d'assurance numérique

Les partenariats technologiques clés comprennent:

Fournisseur de technologie	Focus technologique	Investissement annuel
Logiciel Guidewire	Systèmes de base d'assurance	35 millions de dollars
Microsoft Azure	Infrastructure cloud	22 millions de dollars
Salesforce	CRM et analyse	18 millions de dollars

Sociétés de conseil en gestion des risques

Partenariats collaboratifs avec:

• McKinsey & Entreprise
• Deloitte Risk Advisory
• KPMG Risk Consulting

Total des dépenses annuelles de partenariat de conseil: 75 millions de dollars

Fournisseurs de soins de santé et d'avantages sociaux

Partenariats stratégiques avec:

Fournisseur	Portée du partenariat	Valeur de placement annuelle
UnitedHealthcare	Gestion des avantages sociaux	2,3 milliards de dollars
Cigna	Solutions d'assurance maladie	1,7 milliard de dollars
Aetna	Programmes de santé en groupe	1,5 milliard de dollars

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: activités clés

Services de courtage d'assurance et de gestion des risques

Depuis le quatrième trimestre 2023, Arthur J. Gallagher & Le Co. a généré 9,2 milliards de dollars de revenus totaux des services de courtage d'assurance. L'entreprise opère dans plus de 55 pays dans le monde, avec une main-d'œuvre dévouée de 41 600 employés.

Catégorie de service	Revenus annuels	Segment de marché
Courtage d'assurance au détail	4,7 milliards de dollars	Clients commerciaux et privés
Courtage d'assurance en gros	2,3 milliards de dollars	Marchés spécialisés

Conseil des avantages sociaux

En 2023, le segment des avantages sociaux des employés a contribué 2,6 milliards de dollars aux revenus totaux de l'AJG.

• Dessert plus de 33 000 clients d'entreprise
• Gère les programmes d'avantages sociaux pour les entreprises avec 50 à 5 000 employés
• Fournit des conseils de santé, de retraite et de rémunération

Administration et soutien des réclamations

AJG a traité environ 1,2 million de demandes d'assurance en 2023, une valeur totale de réclamations dépassant 3,8 milliards de dollars.

Type de réclamation	Volume	Temps de traitement moyen
Réclamations commerciales	780,000	7,2 jours
Réclamations de lignes personnelles	420,000	5,6 jours

Évaluation des risques et stratégies d'atténuation

L'AJG a investi 124 millions de dollars dans la technologie et l'analyse de gestion des risques en 2023.

• Utilise des techniques de modélisation prédictive avancées
• Couvre 42 cadres d'évaluation des risques spécifiques à l'industrie
• Sert des clients dans 20 principaux verticaux de l'industrie

Fusions et acquisitions dans le secteur de l'assurance

En 2023, l'AJG a achevé 12 acquisitions stratégiques avec une valeur de transaction totale de 687 millions de dollars.

Cible d'acquisition	Valeur de transaction	Expansion géographique
Courtier d'assurance régional	215 millions de dollars	Midwest des États-Unis
Cabinet de conseil spécialisé	172 millions de dollars	Marchés internationaux

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: Ressources clés

Expertise et connaissances approfondies de l'industrie

En 2024, Arthur J. Gallagher & Co. a accumulé plus de 90 ans d'expérience en courtage d'assurance. L'entreprise opère dans 68 pays avec 34 300 employés spécialisés dans la gestion des risques et les services d'assurance.

Expérimenter la métrique	Données quantitatives
Années de travail	94 ans (fondée en 1927)
Présence mondiale	68 pays
Total des employés	34,300

Relations solides avec les compagnies d'assurance

Gallagher maintient des partenariats avec plus de 2 500 compagnies d'assurance dans le monde, représentant un réseau complet de solutions de transfert de risque.

• Partenariats totaux d'assurance: 2 500+
• Reach sur le marché mondial de l'assurance: multi-continental
• Gestion de la relation des opérateurs: équipes dédiées spécialisées

Technologie avancée et plateformes numériques

La société a investi 187 millions de dollars dans l'infrastructure technologique et la transformation numérique en 2023, soutenant les plateformes avancées de gestion des risques.

Investissement technologique	Montant
Dépenses technologiques annuelles	187 millions de dollars
Développement de plate-forme numérique	Amélioration continue

Main-d'œuvre professionnelle expérimentée

Gallagher maintient une main-d'œuvre hautement qualifiée avec un mandat moyen de 8,5 ans et des programmes de développement professionnel continu.

• Tenure moyenne des employés: 8,5 ans
• Certifications professionnelles: 65% de la main-d'œuvre
• Heures de formation annuelles: 40 heures et plus par employé

Réseau de distribution mondial

La société exploite 850 bureaux dans le monde, permettant une gestion complète des risques et des services d'assurance sur plusieurs marchés.

Réseau de distribution	Métrique
Bureaux totaux	850
Pays desservis	68
Couverture du marché	Amérique du Nord, Europe, Asie-Pacifique, Amérique latine

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: propositions de valeur

Solutions complètes de gestion des risques

Arthur J. Gallagher & Co. fournit des solutions de gestion des risques avec 7,35 milliards de dollars de revenus totaux pour 2022. La société propose des services d'évaluation des risques spécialisés dans plusieurs secteurs industriels.

Segment de l'industrie	Couverture de gestion des risques	Contribution annuelle des revenus
Fabrication	Propriété complète & Victime	1,2 milliard de dollars
Soins de santé	Responsabilité médicale complexe	985 millions de dollars
Services financiers	Cyber ​​Risk Protection	672 millions de dollars

Programmes d'assurance personnalisés et d'avantages sociaux

AJG fournit des solutions d'assurance sur mesure avec Plus de 35 000 configurations clients uniques annuellement.

• Gestion des avantages sociaux
• Stratégies de rémunération des cadres
• Solutions de planification de la retraite
• Santé & Conception du programme de protection sociale

Accès à diverses offres de produits d'assurance

La société donne accès à plus de 200 assureurs et maintient 41,7 milliards de dollars d'actifs totaux en 2022.

Catégorie de produits d'assurance	Nombre de produits disponibles	Pénétration du marché
Assurance immobilière	52 variantes	68% de couverture du marché
Assurance responsabilité civile	47 variantes	Couverture du marché de 62%
Assurance spécialisée	38 variantes	Couverture du marché de 55%

Services de conseil experts pour des scénarios de risque complexes

L'AJG emploie 36 000 professionnels ayant une expertise spécialisée sur la gestion des risques sur les marchés mondiaux.

Stratégies d'assurance et d'atténuation des risques rentables

La société démontre une économie de coût moyen de 18 à 22% grâce à des approches optimisées de gestion des risques.

• Intégration d'analyse prédictive
• Optimisation de la gestion des réclamations
• Mécanismes de transfert de risque
• Prévention des pertes proactives

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: relations clients

Service à la clientèle et support personnalisés

Arthur J. Gallagher & Co. fournit un service client personnalisé via:

• Stratégies d'engagement des clients directs
• Solutions d'assurance personnalisées et de gestion des risques
• Canaux de support client 24/7

Catégorie de service	Volume d'interaction du client annuel	Temps de réponse moyen
Consultation de gestion des risques	45 672 interactions client	2,3 heures
Poutenir les réclamations	38 945 réclamations traitées	1,7 heures

Partenariats stratégiques à long terme

AJG maintient des partenariats stratégiques avec:

• Fortune 500 sociétés
• Entreprises de marché intermédiaire
• Petites et moyennes entreprises

Type de partenariat	Nombre de partenariats actifs	Durée du partenariat moyen
Partenariats d'entreprise	1 245 partenariats actifs	7,4 ans
Partenariats des petites entreprises	3 672 partenariats actifs	5,2 ans

Équipes de gestion des comptes dédiés

AJG fournit une gestion des comptes spécialisée:

• Expertise sectorielle
• Gestionnaires de relations dédiées
• Stratégies d'atténuation des risques sur mesure

Catégorie de gestion des comptes	Nombre de gestionnaires de compte	Taille moyenne du portefeuille client
Comptes d'entreprise	672 gestionnaires de compte	18 clients par gestionnaire
Comptes de petites entreprises	1 245 gestionnaires de comptes	42 clients par gestionnaire

Évaluation et consultation des risques réguliers

L'AJG effectue des évaluations complètes des risques à travers:

• Évaluations des risques trimestriels
• Analyse des risques spécifiques à l'industrie
• Modélisation prédictive des risques

Type d'évaluation des risques	Volume d'évaluation annuel	Durée d'évaluation moyenne
Évaluations des risques d'entreprise	4 567 évaluations	3,2 jours
Évaluations des risques de petites entreprises	12 345 évaluations	1,8 jours

Plates-formes de libre-service numériques

AJG propose des plateformes numériques avec:

• Gestion des politiques en ligne
• Réclamations outils de soumission
• Analyse des risques en temps réel

Fonctionnalité de plate-forme numérique	Utilisateurs actifs mensuels	Volume de transaction numérique
Gestion des politiques en ligne	87 654 utilisateurs	156 789 transactions
Portail de soumission des réclamations	62 345 utilisateurs	98 765 réclamations soumises

Arthur J. Gallagher & Co. (AJG) - Modèle commercial: canaux

Équipes de vente directes

En 2024, Arthur J. Gallagher & Co. maintient une force de vente directe robuste avec environ 34 500 employés dans le monde. L'équipe de vente de l'entreprise a généré 8,3 milliards de dollars de revenus en 2023.

Métrique du canal de vente	2023 données
Représentants des ventes totales	3,750
Ventes moyennes par représentant	2,21 millions de dollars
Couverture géographique	50 États et 17 pays

Plateformes d'assurance en ligne

Les plateformes numériques d'AJG ont traité environ 1,2 milliard de dollars de transactions d'assurance en 2023.

• Base d'utilisateurs de plate-forme numérique: 425 000 utilisateurs actifs
• Génération de citations en ligne: 215 000 par mois
• Téléchargements d'applications mobiles: 287 000

Réseaux de courtiers

La société tire parti de vastes relations de courtier dans plusieurs segments d'assurance.

Segment du réseau de courtiers	Nombre de partenaires
Courtiers d'assurance commerciale	4,200
Brokers d'assurance au détail	3,750
Brokers d'assurance spécialisée	1,100

Sites Web d'entreprise

AJG exploite plusieurs sites Web spécialisés ciblant différents segments de marché d'assurance.

• Sites Web totaux d'entreprise: 7
• Trafic mensuel du site Web: 1,2 million de visiteurs
• Durée moyenne de la session: 4,7 minutes

Conférences et événements de l'industrie

En 2023, Arthur J. Gallagher & Co. a participé à 87 conférences de l'industrie, générant 145 millions de dollars d'opportunités commerciales potentielles.

Type d'événement	Nombre d'événements	Valeur commerciale potentielle
Conférences nationales	42	87 millions de dollars
Conférences régionales	35	42 millions de dollars
Symposiums spécialisés	10	16 millions de dollars

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: segments de clientèle

Intermédiaire et grandes entreprises d'entreprise

Arthur J. Gallagher & Co. dessert 38 000 clients intermédiaires et grandes entreprises dans diverses industries. Les revenus de la société de ce segment ont atteint 7,2 milliards de dollars en 2023.

Segment de l'industrie	Nombre de clients	Prime annuelle moyenne
Fabrication	8,500	$250,000
Technologie	6,200	$180,000
Services financiers	5,700	$320,000

Petites et moyennes entreprises

L'AJG dessert environ 45 000 petites et moyennes entreprises, générant 3,5 milliards de dollars de revenus de ce segment en 2023.

• Taille moyenne du client: 50-500 employés
• Prime d'assurance annuelle typique: 50 000 $ - 150 000 $
• Industries clés: vente au détail, construction, services professionnels

Organisations de soins de santé

Le segment des soins de santé représente 2,8 milliards de dollars de revenus pour Arthur J. Gallagher & Co., avec 12 500 clients de soins de santé en 2023.

Sous-secteur des soins de santé	Nombre de clients	Prime annuelle moyenne
Hôpitaux	3,200	$450,000
Pratiques médicales	6,500	$120,000
Installations de vie supérieure	2,800	$280,000

Secteur public et entités gouvernementales

L'AJG dessert 2 300 clients du secteur public et du gouvernement, générant 1,6 milliard de dollars de revenus pour 2023.

• Gouvernements municipaux: 1 100 clients
• Agences d'État: 750 clients
• Entités du gouvernement fédéral: 450 clients

Sociétés internationales

Arthur J. Gallagher & Co. fournit des services à 5 200 sociétés internationales, avec un chiffre d'affaires international de 4,3 milliards de dollars en 2023.

Région géographique	Nombre de clients	Contribution des revenus
Europe	1,800	1,5 milliard de dollars
Asie-Pacifique	1,600	1,2 milliard de dollars
l'Amérique latine	1,200	850 millions de dollars
Moyen-Orient / Afrique	600	750 millions de dollars

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: Structure des coûts

Compensation et avantages sociaux des employés

Pour l'exercice 2023, Arthur J. Gallagher & Co. a déclaré des frais totaux d'indemnisation des employés de 3,24 milliards de dollars. La répartition des coûts de rémunération comprend:

Catégorie de compensation	Montant (millions de dollars)
Salaires et salaires	2,650
Avantages sociaux	390
Compensation en stock	200

Technologie et infrastructure numérique

L'investissement technologique pour 2023 a totalisé 287 millions de dollars, avec l'allocation suivante:

• Infrastructure informatique: 125 millions de dollars
• Systèmes de cybersécurité: 62 millions de dollars
• Développement et maintenance logiciels: 100 millions de dollars

Marketing et développement commercial

Les dépenses de marketing et de développement commercial pour 2023 étaient de 215 millions de dollars, distribuées comme suit:

Catégorie de dépenses de marketing	Montant (millions de dollars)
Marketing numérique	85
Ventes et développement commercial	95
Marque de marque	35

Compliance et dépenses réglementaires

Les coûts liés à la conformité pour 2023 s'élevaient à 93 millions de dollars, notamment:

• Conformité juridique: 45 millions de dollars
• Représentation réglementaire: 28 millions de dollars
• Gestion des risques: 20 millions de dollars

Frais généraux et frais administratifs opérationnels

Les frais généraux opérationnels totaux pour 2023 étaient de 412 millions de dollars, décomposés comme:

Catégorie aérienne	Montant (millions de dollars)
Installations et biens immobiliers	180
Soutien administratif	132
Services professionnels	100

Arthur J. Gallagher & Co. (AJG) - Modèle d'entreprise: Strots de revenus

Commission des ventes d'assurance

Pour l'exercice 2022, Arthur J. Gallagher & Co. a déclaré un chiffre d'affaires total de 7,39 milliards de dollars. Les commissions de courtage d'assurance représentaient une partie importante de ces revenus.

Catégorie de revenus	Montant (2022)	Pourcentage du total des revenus
Commissions de courtage	4,23 milliards de dollars	57.2%
Propriété & Commissions de blessures	2,81 milliards de dollars	38%

Services de conseil basés sur les frais

Gallagher génère des revenus substantiels à partir des services de conseil en frais sur plusieurs secteurs.

• Frais de conseil en gestion des risques: 612 millions de dollars en 2022
• Services de conseil à la technologie: 287 millions de dollars
• Solutions mondiales de gestion des risques: 421 millions de dollars

Frais de conseil en gestion des risques

Les services de conseil à risque ont contribué 538 millions de dollars aux revenus de Gallagher en 2022.

Administration des avantages sociaux des employés

Le segment des avantages sociaux a généré des revenus importants:

Revenus d'administration des avantages sociaux	Montant (2022)
Revenus d'administration des avantages sociaux	1,64 milliard de dollars
Santé du groupe & Services sociaux	987 millions de dollars

Revenus de fusions et de transactions d'acquisition

En 2022, Gallagher a terminé 47 acquisitions, générant des revenus liés aux transactions d'environ 203 millions de dollars.

• Acquisitions nord-américaines: 35
• Acquisitions internationales: 12
• Valeur totale de la transaction: 1,2 milliard de dollars

Arthur J. Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Arthur J. Gallagher & Co. over the competition. It's not just about selling a policy; it's about delivering complex risk solutions that are deeply integrated into your operations. The value proposition is built on scale, specialization, and service delivery.

Comprehensive, tailored risk management and insurance solutions.

Arthur J. Gallagher & Co. plans and administers cost-effective, differentiated property/casualty and human resource risk management programs. This is evidenced by their consistent top-line performance, which shows clients are sticking around and spending more on these services. For the twelve months ending September 30, 2025, the total revenue reached an impressive $13.030B. The firm's mission is explicitly geared toward delivering superior, cost-effective solutions, which translates into strong growth metrics. For instance, the combined Brokerage and Risk Management segments delivered an organic revenue growth of 4.8% in the third quarter of 2025, following an organic growth of 9% in Q1 2025.

Here's a quick look at the segment performance that underpins these solutions as of the third quarter of 2025:

Segment Metric (Q3 2025)	Amount/Rate
Total Revenue Before Reimbursement	$3.32 billion
Total Revenue Growth (YoY)	20%
Brokerage Segment Revenue	$2.9 billion
Risk Management Segment Revenue	$402.1 million
Combined Adjusted EBITDAC Margin	32.1%

The company's growth strategy, a blend of organic expansion and strategic mergers and acquisitions (M&A), also feeds directly into this value proposition. In the first half of 2025, the company closed 19 acquisitions with annualized revenues of $353 million.

Deep niche expertise across diverse industries and geographies.

Arthur J. Gallagher & Co. doesn't just offer general coverage; they focus on specialized areas. This deep expertise is a key differentiator, especially for clients with complex, multinational risks. The services cover a wide spectrum of industry needs, including:

• Aerospace.
• Financial Institutions.
• Nonprofit.
• Multinational Services.
• Benefits Consulting.
• Compliance Consulting.

The firm's focus is primarily on the middle-market commercial sector, though they also serve small businesses and large risk management accounts. This focus allows them to tailor solutions rather than offering one-size-fits-all products.

Global reach with local service in ~130 countries.

You get the benefit of a massive global platform combined with the necessary local insight. Arthur J. Gallagher & Co. provides services in approximately 130 countries around the world. This is achieved through their owned operations and an extensive network of correspondent brokers and consultants. This global footprint is crucial for clients operating across diverse regions, making the ability to manage accounts internationally a core competitive advantage.

Claims management and loss control consulting via Gallagher Bassett.

The Risk Management segment, largely driven by Gallagher Bassett Services Inc., provides the outsourced partner function for complex risk issues, including claims management and risk control. This service line is vital, especially given current industry pressures. For example, Gallagher Bassett's 2025 Claims Insights survey, which included responses from 200 carriers globally, highlighted that 76% of carriers reported legacy claims posed a challenge to profitability. Furthermore, 72% of carriers noted that labor shortages significantly impact their ability to manage claims efficiently. Gallagher Bassett's value proposition here is providing the specialized expertise to tackle these complex, costly issues, as seen by their segment revenue of $402.1 million in Q3 2025.

If onboarding takes 14+ days, churn risk rises. Finance: draft 13-week cash view by Friday.

Arthur J. Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Customer Relationships

You're looking at how Arthur J. Gallagher & Co. keeps its clients locked in and growing their spend year after year. It all comes down to the personal touch, which the numbers back up.

Dedicated, high-touch broker and consultant relationships are the bedrock of the Arthur J. Gallagher & Co. model. The firm maintains a global footprint, providing services in approximately 130 countries through owned operations and a network of correspondent brokers and consultants. This structure ensures that the commitment to providing superior, cost-effective risk management products and services is executed at a professional level for every client.

Long-term, sticky client retention driven by service excellence is evidenced by consistent top-line expansion. The core brokerage and risk management segments have delivered double-digit total revenue growth for 19 straight quarters as of Q3 2025. Specifically, organic revenue growth, which reflects existing client business, was 4.8% in the third quarter of 2025 and 5.4% in the second quarter of 2025. The company projects brokerage organic growth between 6.5% and 7.5% for the full year 2025. Service quality is recognized, with Gallagher Bassett ranking #1 TPA in casualty claims handling in the Advisen Claims Satisfaction Survey.

The relationship-driven, consultative sales model is what fuels this organic growth. The mission explicitly directs the company to strive for the highest professional excellence for clients, which supports this sustained growth trajectory. The combined core segments achieved an organic revenue growth of 7.6% for the full year 2024. This consultative approach means moving beyond simple transactions to become an indispensable risk partner.

Continuous client engagement via risk control and compliance services is delivered through the Risk Management segment. This segment focuses on contract claim settlement, claim administration, and risk management consulting. The financial contribution from these ongoing service relationships is substantial, showing clients rely on Arthur J. Gallagher & Co. beyond the initial placement of insurance.

Here's a look at the revenue scale from these client relationship segments for the third quarter of 2025:

Segment	Q3 2025 Revenue Before Reimbursements	Year-over-Year Growth (Q3 2025 vs Q3 2024)
Brokerage Unit	$2.9 billion	$2.4 billion in Q3'24
Risk Management Arm	$402.1 million	$369.7 million in Q3'24

You can also see the scale of client service delivery across the first half of 2025 (H1'25):

• Brokerage arm reported revenue of $6.1 billion for H1'25.
• Risk management segment reported revenue of $765 million for H1'25.
• The company completed 19 acquisitions in H1'25, adding $353 million in annualized revenue, integrating new client relationships.
• In Q1 2025, the firm acquired Woodruff Sawyer, adding over $250 million in estimated annual revenue.

Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Channels

You're looking at how Arthur J. Gallagher & Co. gets its services to clients, and honestly, it's a massive, multi-pronged effort built on people and scale. The core of their distribution is definitely the direct human touch.

Direct sales force of brokers and consultants (owned operations).

This is the engine room, the folks you meet with to place complex risks. As of the end of 2024, Arthur J. Gallagher & Co. had approximately 56,000 colleagues globally. The vast majority of their business flows through this direct channel. For the full year 2024, the brokerage segment, which is this direct sales channel, accounted for 86% of Arthur J. Gallagher & Co.'s revenues. To give you a sense of the scale in 2025, the brokerage unit alone reported revenue of $2,785.6 million for the second quarter of 2025. That's a lot of face-to-face selling and consulting.

Global network of correspondent brokers for non-owned territories.

When a client needs coverage in a place where Arthur J. Gallagher & Co. doesn't have a physical office, they lean on their established network. Arthur J. Gallagher & Co. offers client-service capabilities in more than 130 countries and territories around the world through this network of trusted advisors and local brokers. They actively manage this network, meaning they vet and contract these independent brokers to ensure service standards are maintained for multinational programs, so you get local expertise backed by their global structure.

Integrated channels from acquired firms (e.g., AssuredPartners).

Growth by acquisition is a huge channel for Arthur J. Gallagher & Co., instantly integrating new sales forces and client books. The AssuredPartners acquisition, announced in late 2024, was a massive addition, bringing in a pro-forma revenue of $2.9 billion. They were working to close that deal in the third quarter of 2025. The pace of integration is fast; for the first half of 2025, the company closed 19 acquisitions, adding $353 million in annualized revenue from those deals. Just in the third quarter of 2025, they closed 6 acquisitions, bringing in annualized revenues of $3.03 billion. These deals immediately expand their direct sales footprint and geographic reach.

Digital platforms for client self-service and data exchange.

While the numbers are less explicit on client logins, the digital aspect is about supporting the brokers and using data to drive consulting. Arthur J. Gallagher & Co. uses data analytics to support its integrated network, which is a key benefit for acquired local brokers. On the consulting side, their 2025 US Benefits Strategy & Benchmarking Survey, which informed their advice, used data gathered from over 4,000+ organizations between January and March 2025. This shows they use large datasets to provide data-driven insights, which is a digital channel supporting the core advisory service.

Here's a quick look at the scale of the primary distribution channels based on the latest available figures:

Channel Component	Metric	Latest Figure (as of late 2025 context)	Source Year/Period
Direct Sales Force (Brokerage)	Total Employees	56,000	End of 2024
Direct Sales Force (Brokerage)	Revenue Contribution	86%	2024
Global Network	Countries Served	Over 130	2025
Acquisition Integration	Q3 2025 Acquisitions (Count)	6	Q3 2025
Acquisition Integration	Q3 2025 Acquisitions (Annualized Revenue)	$3.03 billion	Q3 2025
Digital/Data Insight	Benefits Survey Sample Size	4,000+ organizations	Q1 2025

The Brokerage segment, representing the direct sales force, generated $9.02 billion in revenue for the first nine months of 2025. That's the real number for this channel's output.

Arthur J. Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Customer Segments

You're looking at where Arthur J. Gallagher & Co. focuses its sales and service efforts. The company's client base is quite broad, covering commercial, industrial, public sector, religious, and nonprofit entities globally. Still, the core focus for the Americas retail operation is definitely the middle to upper middle market. This segment is where Arthur J. Gallagher & Co. has built its reputation over nearly a century. For context, as of the end of 2024, the company employed about 56,000 people worldwide to service this diverse base.

For the largest clients, Arthur J. Gallagher & Co. provides brokerage services for large account risk management. These are the multinational corporations needing complex programs. It's important to note how diversified this client base is; in 2024, the single largest client only accounted for about 1% of the combined brokerage and risk management segment revenues, and the top ten clients represented just 3% of those revenues. This low concentration shows they don't rely too heavily on any one whale. The risk management segment, which handles things like third-party claims administration, serviced a massive volume in 2024, closing over 1.3 million claims and making around $17 billion in claim payments on behalf of clients.

The retail operations also cater to smaller commercial enterprises and high net worth personal lines clients, which covers the small business and individual aspect of the canvas. To serve these varied needs, Arthur J. Gallagher & Co. uses niche practice groups. These groups have deep expertise to address the specific risk characteristics of different verticals. While the search results don't break out revenue specifically for healthcare, construction, or energy clients, the strategy relies on these subject matter specialists to better serve the unique risk profiles across all industries.

Here's a quick look at how the revenue streams currently reflect the focus on these customer types, based on the latest reported segment performance for the third quarter of 2025. The brokerage unit, which serves all these client types through retail, wholesale, and reinsurance, brought in $2.92 billion in Q3 2025, representing a 22% year-over-year increase. The risk management segment followed with $402.1 million in revenue, up 8.8%. The overall revenue split in 2024 showed the brokerage segment was responsible for 86% of total revenues, with Risk Management at 14%. This confirms the primary customer interaction happens through the brokerage side. Also, about 64% of the total revenue in 2024 came from U.S. clients, with the remaining 36% from international markets.

Customer Segment Focus Area	Financial/Statistical Metric	Value (Latest Available)
Overall Client Diversification	Largest Single Client Revenue Share (2024)	1%
Overall Client Diversification	Top Ten Clients Revenue Share (2024)	3%
Core Focus (Middle Market) & Large Accounts	Brokerage Segment Revenue (Q3 2025)	$2,922.9 million
Risk Management Clients (Claims Handling Volume)	Claims Paid on Behalf of Clients (2024)	Around $17 billion
Risk Management Clients (Claims Handling Volume)	Claims Closed (2024)	More than 1.3 million
Geographic Split (All Segments)	U.S. Revenue Share (2024)	64%
Geographic Split (All Segments)	International Revenue Share (2024)	36%

The company's ability to service these segments is supported by its global footprint, operating through more than 580 sales and service offices in the U.S. and about 350 offices in 60 countries, helping clients in roughly 130 countries. You can see the structure is designed to handle complexity at scale, from the largest multinational risk programs down to smaller commercial needs. The focus on the middle market is definitely the engine, given the retail segment drives the majority of the business. Finance: draft 13-week cash view by Friday.

Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Cost Structure

You're looking at the major drains on Arthur J. Gallagher & Co.'s bottom line as of late 2025. The company's cost structure is heavily weighted toward its people and the aggressive acquisition strategy it employs to fuel growth. Honestly, keeping these costs in check while integrating massive deals like AssuredPartners is the real balancing act here.

Employee compensation and benefits

Compensation is the single largest cost driver, which makes sense for a people-centric brokerage. For the third quarter of 2025, the Brokerage ratio, which is compensation and benefits as a percentage of revenue, was stated at 56.4%.

The surge in compensation expenses reflects the need to bring in talent to support both organic expansion and the integration of recent acquisitions. For the third quarter of 2025, total non-interest expenses reached $3.01 billion, with compensation expenses driving a significant portion of that increase.

Here's a look at compensation expense components for the first quarter of 2025:

Compensation Expense Category (Pretax Impact, in millions)	Q1 2025 Amount
Compensation expense, as reported	$1,617.2
Less: Acquisition integration related charges	($27.6)
Less: Workforce and lease termination related charges	($16.5)
Less: Acquisition related adjustments	($30.1)
Compensation expense, as adjusted	$1,543.0

Acquisition and integration costs

Arthur J. Gallagher & Co.'s growth relies on Mergers and Acquisitions (M&A), which come with immediate, large, non-recurring costs. You see these costs hit the income statement as integration expenses and transaction-related charges.

Major recent deals have set specific cost expectations:

• The acquisition of AssuredPartners, which closed in mid-August 2025, has integration costs projected at $575 million over three years.
• The Woodruff Sawyer acquisition, which closed in the second quarter of 2025, carried expected integration costs totaling $150 million over three years.

Looking at the reported quarterly impact, the pretax impact for Acquisition integration in the Brokerage segment for the third quarter of 2025 was $49.1 million.

Amortization of intangible assets from M&A deals

The amortization of intangible assets is a direct, non-cash consequence of past acquisitions, stemming from assets like customer lists and trade names. This is a significant, recurring adjustment to reported earnings.

The pretax impact related to the Amortization of intangible assets for the Brokerage segment was substantial in recent quarters:

• Third Quarter 2025: $376.8 million
• Second Quarter 2025: $279.9 million
• First Quarter 2025: $292.0 million

As of June 30, 2025, the accumulated amortization on the balance sheet stood at $95,686 thousand, resulting in Net Intangible Assets of $143,704 thousand.

General operating expenses

These are the day-to-day costs of running the global operation, excluding the direct compensation costs already covered. These expenses include things like real estate leases, technology platforms, and professional fees.

For the third quarter of 2025, the reported Operating expense for the company was $433.6 million, up from $342 million in Q3 2024. For the first nine months of 2025, the total operating expense was $1.14 billion.

General operating expenses also include specific charges related to restructuring and efficiency efforts:

General Operating Expense Component (Pretax Impact, in millions)	Q3 2025 Amount	9M 2025 Amount (Approximate Total)
Workforce and lease termination charges	$15.9	Not explicitly summed, but Q1 was $13.4M and Q2 was $67M (total non-interest expense less compensation)
Corporate Segment Adjustments (includes some G&A)	$57.8	Not explicitly summed

Finance: draft 13-week cash view by Friday.

Arthur J. Arthur J. Gallagher & Co. (AJG) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers that drive Arthur J. Gallagher & Co.'s top line as of late 2025. The business model is heavily reliant on the flow of commissions and fees from its core brokerage and risk management operations, which just delivered their 19th straight quarter of double-digit top-line growth.

For the third quarter ended September 30, 2025, Arthur J. Gallagher & Co. reported total revenue before reimbursement of $3.32 billion. You specifically noted that the Q3 2025 total revenue was $3.33 billion; the reported figure is $3,325.0 million for the combined Brokerage & Risk Management segments as reported.

The Brokerage segment remains the cornerstone, reporting revenue of $2,922.9 million for Q3 2025. This segment's revenue is composed of several key streams, which you can see broken down here:

Revenue Component (Q3 2025, in millions)	Amount
Commissions	$1,908.3
Fees	$664.5
Supplemental revenues	$117.6
Contingent revenues	$75.4
Interest income, premium finance revenues and other income	$157.1
Total Brokerage Segment Revenues (Sum of above)	$2,922.9

Commissions from insurance and reinsurance placement are the largest single component within the Brokerage segment, totaling $1,908.3 million for the third quarter of 2025. This reflects the core business of placing coverage for clients.

Fees from risk management, consulting, and claims services are generated across both major segments. Within the Brokerage segment alone, Fees accounted for $664.5 million in Q3 2025. Furthermore, the Risk Management segment generated total revenue of $402.1 million in Q3 2025, which is primarily derived from these types of fee-based services, including third-party claims settlement and administration.

The final key revenue stream involves capital management activities. Interest income on fiduciary funds and premium finance is reported within the Brokerage segment's revenue breakdown, coming in at $157.1 million for Q3 2025. This figure benefited from higher interest income earned on proceeds associated with the AssuredPartners Financing.

To summarize the segment contribution to the reported total revenue of $3,325.0 million for Q3 2025:

• Brokerage segment revenue was $2,922.9 million.
• Risk Management segment revenue was $402.1 million.
• The Brokerage segment contributed approximately 87% of the total revenue, while Risk Management accounted for the remaining 13%.

Finance: draft 13-week cash view by Friday.