Arthur J. Gallagher & Co.: Acquisition of Cornerstone Insurance to Strengthen Regional Expertise

Arthur J. Gallagher & Co. reported strong financial performance for Q2 2024, underpinned by significant growth in revenue and earnings. The firm’s combined Brokerage and Risk Management segments saw a 14% increase in revenue and a 7.7% rise in organic growth, with an adjusted EBITDAC margin expansion of 102 basis points to 31.4%. Additionally, the company achieved GAAP earnings per share of $1.70, up 15% year-over-year, and adjusted earnings per share of $2.68, up 19% year-over-year. These results align with the expectations set during their June Investor Relations Day.