History

Gallagher’s Singapore office opens for business

AJG continues to extend its global reach. The acquisition of ITI Solutions, specialists in trade credit and finance, is set to act as a hub for expansion into the Far East.

Gallagher purchases HLG Holdings Ltd (the Heath Lambert Group)

The acquisition adds competences in retail, commercial, personal lines and employee benefits to Gallagher’s offering, and sees the company acquire 16 offices throughout the UK .

Gallagher acquires Woodbrook Underwriting.

The move is part of Arthur J. Gallagher International’s strategic objective to grow its underwriting platform, to be known as AJG Underwriting Group.

Following the purchase of Securitas Re, a broking operation is opened in Brazil.

The facultative reinsurance brokering operation, called Gallagher Brasil, is based in Sao Paulo, the largest economic centre in Latin America and the Caribbean.

Gallagher International purchases the remaining shares in Specialised Broking Associates Pty Ltd. (SBA).

The acquisition builds on an already successful partnership established over the past two years, following Gallagher International’s purchase of a minority stake in SBA in 2008.

FirstCity assets are purchased in London.

The acquisition enhances AJG UK’s financial and professional risks offering, resulting in a combined operation that places AJG UK among the top London market brokers ranked by revenue.

The Calgary office opens, and Gallagher Energy Risk Services (GERS) is formed.

The move follows the launch of Gallagher’s global energy initiative in 2008 with an investment in wholesale energy specialist, Alesco Risk Management Services.

A substantial book of risk management business is acquired from London insurance broker Heath Lambert.

The acquisition signals a new chapter in the expansion of Gallagher London’s retail offering, and sees the company gain more than 20 experts in the retail and managed risk sector.

A global energy initiative is launched, with majority investment in Alesco Risk Management Services.

The independent onshore/offshore energy subsidiary will deliver specialist service provision to the energy sector. Alesco, whose name is derived from Latin, meaning ‘to grow’, is 65% owned by Gallagher and 35% through employee equity.

Gallagher purchases Oxygen Insurance Managers, a managing general agency specialist.

The company represents a number of major insurance companies and Lloyd’s syndicates for various specialist classes of business, and will now trade as OIM Underwriting Limited (OIM), an associated company of Arthur J. Gallagher (UK).

Shareholding is acquired in Specialised Broking Associates Pty Ltd. (SBA), Australia.

The natural resources and energy specialist has already been appointed sole broker to Western Australia’s largest private company and services all three of the top Western Australian-based mining houses. The acquisition provides a solid platform for planned growth in the Asia Pacific region.

Gallagher International acquires shareholding in CGM Group Ltd (CGM), a Caribbean-based insurance and reinsurance broker.

Headquartered in St Lucia, CGM is the largest independent insurance intermediary and risk management company in the Caribbean and has been providing property, casualty, health, risk management, reinsurance and modelling services to clients throughout the region for over 35 years.

AJG UK’s revenues exceed US$100m. It now has over 400 staff.

J. Patrick Gallagher, Jr. is appointed Chairman, succeeding Robert E. Gallagher, who passes away in August.

The Worldwide Casualty and Political Risk divisions are now created, and a new P&I team augments AJG UK’s Marine department.

Gallagher is once more recognized as one of Forbes magazine’s Platinum 400.

Gallagher is named one of Forbes magazine's ‘Platinum 400 Best Big Companies in America’ and is also numbered among the Fortune 1000.

The company completes a record 19 acquisitions by year end and acquires the remaining 50% interest in Risk Management Partners in the UK. The expansion of Gallagher’s international operations begins in earnest.

AJG UK continues to expand, augmenting its services with the formation of the Specie and Binders divisions.

Gallagher Bassett purchases the remaining 50% interest in Wyatt Gallagher Bassett, its Australian claims management and loss control operation.

Gallagher Bassett also becomes the world’s largest multiline third-party claims administrator, according to Business Insurance magazine.

Arthur J. Gallagher & Co. also celebrates its 75th anniversary on 1st October and surpasses $1 billion in revenues by year-end

The number of London staff now exceeds 300 and placed premium volume exceeds $500,000,000.

Arthur J. Gallagher (UK) Limited continues to augment its offering by acquiring insurance broker Morgan Read & Sharman.

AJG UK begins to expand its offering: the Marine, Aviation and Transport Division is formed and recruitment begins in the energy, financial and professional risks and property sectors.  

The number of London staff is now over 200.

Company revenues surpass $500 million, as Gallagher becomes the 4th largest broker in the world.

The company attributes its remarkable growth to its niche focus and speed in recognising the need for specialisation.

Wyatt Gallagher Bassett Pty Ltd, a joint venture between Gallagher Bassett Services, Inc. and Brisbane-based Wyatt Group, is formed, with operating offices throughout Australia.

UK insurance broker Morgan, Reed & Coleman is purchased and the Specialty Lines, World-Wide Risks and Worldwide Treaty divisions are formed.

Arthur J. Gallagher (UK) Limited acquires a 50% shareholding in Risk Management Partners Limited.

Risk Management Partners begins as a joint venture between Arthur J. Gallagher & Co. and American Re Corp., to provide risk management and insurance solutions to the public sector in the UK. Claims management and risk control are provided by Gallagher Bassett.

Gallagher Plummer's name is changed to Arthur J. Gallagher (UK) Limited.

The company moves its corporate headquarters to a new location in Itasca, Illinois, a suburb of Chicago, where it occupies about half of a new, 25-storey building named The Gallagher Centre.

David Ross joins Gallagher Plumer Limited.

J. Patrick Gallagher, Jr. becomes President.

The 1990s began with significant executive changes: Robert E. Gallagher becomes Chairman of the Board, and John P. Gallagher becomes Vice Chairman of the Board.

Business Insurance magazine ranks Gallagher as the 12^th largest broker in the world.

Robert E. Gallagher begins his 25th year as President and Chief Executive Officer

Arthur J. Gallagher & Co. is invited to join the ‘Big Board’ – the prestigious New York Stock Exchange – trading under the symbol ‘AJG’.

Revenues top $134 million and staff for the group exceeds 1,600.

Gallagher moves up in the Business Insurance magazine rankings, and is now rated 8th largest broker in the US, and 15th largest in the world.

John Plumer & Partners is purchased; Gallagher Plumer Limited is formed.

Arthur J. Gallagher & Co. is again honoured by Forbes as one of the ‘200 Best Small Companies in America’.

Gallagher, Hinton & Vereker changes name to Arthur J. Gallagher (UK) Limited.

Arthur J. Gallagher & Co. is chosen by Forbes magazine as one of the ‘200 Best Small Companies in America’.

Arthur J. Gallagher & Co. goes public with an initial common stock offering of $1.72 per share.

It is later restated for three subsequent two-for-one stock splits.

Gallagher breaks into the Top 20 worldwide ranking of brokers, and is ranked by Business Insurance magazine as the 18th largest.

Robert E. Gallagher creates ‘The Gallagher Way’, an idiosyncratic charter encapsulating the ‘shared values’ that form the cornerstone of the company’s culture.

Company revenues hit $50 million.

Gallagher is ranked by Business Insurance magazine as the 10th largest broker in the US.

Gallagher Hinton & Vereker creates an International Division.

Gallagher, Hinton & Vereker becomes a Lloyd's Broker.

In doing so, it becomes the first subsidiary of a US broker to be accepted as a Lloyd’s broker in its own right.

D. Vereker & Company becomes Gallagher, Hinton & Vereker Limited, under the umbrella of Lloyd's Broker Hinton, Hill and Coles.

Gallagher initially owns a 56.5% stake, although they later buy the rest of the company.

International expansion begins on 9th December with the incorporation of D. Vereker & Company, in London.

This transaction allows the company to gain immediate access to Lloyd’s of London and the London insurance and reinsurance marketplace.

Arthur J. Gallagher & Co. revenues exceed $1 million.

The first Bishop's Plan for Self-Insurance is written by Lloyd’s of London for the Archdiocese of Chicago, representing Gallagher’s first foray into the London market. The deal is brokered by Stewart-Smith.

Robert E. Gallagher becomes President and Chief Executive Officer.

Robert had joined the company in 1947, after graduating from Cornell University. He would be elected chairman in 1990, and would hold the title until his death in 2006.

Arthur Gallagher's three sons, James, Robert and John, are now part of the agency. Revenues reach $175,000 and the company is incorporated.

Arthur Gallagher helps pioneer Hartford's retrospective rating program and writes what is believed to be the first deductible fire plan in Chicago.

Arthur Gallagher founded in Chicago on 1st October 1927.

After graduating from the position of bookkeeper to top producer at Moore Case Lyman & Hubbard, Art Gallagher realises the only way to be compensated for his sales prowess is to start his own company. Arthur J. Gallagher & Co. is born.