Insurance broking group Arthur J. Gallagher & Co. has reported total revenue before reimbursement of $3.9 billion for the third quarter of 2026, compared to $3.3 billion in Q3’25. For the first nine months of 2026, the broker reported revenue of $12.6 billion, up from $10.2 billion in 9M’25.
In Q3’26, the core brokerage segment added revenues of $3.5 billion, while the risk management segment added $457 million, compared to $2.9 billion and $402 million in Q3’25, respectively.
For 9M’26, the core brokerage arm added revenues of $11.3 billion while the risk management arm contributed $1.3 billion, compared to $9 billion and $1.2 billion in 9M’25, respectively.
For this quarter, the broker’s overall net earnings rose to $406 million compared to $273 million in Q3’25. Of this, the core brokerage segment added earnings of $515 million, while the risk management arm contributed $61 million, up from $409 million and $50 million in Q3’25, respectively.
Meanwhile, for 9M’26, the broker’s overall net earnings rose to $1.6 billion compared to $1.4 billion for 9M’25. Of this, the brokerage arm contributed nearly $1.9 billion, while the risk management arm contributed $168 million, up from $1.7 billion and $134 million for 9M’25, respectively.
Additionally, the broker’s operating expenses rose to $508 million in the quarter compared to $102 million in Q3’25. For 9M’26, it rose to $1.6 billion compared to $1.1 billion in 9M’25.
Arthur J. Gallagher & Co. closed five acquisitions this quarter compared to six in Q3’25, with annualised revenues of $102 million compared to $3.04 billion in Q3’25.
For 9M’25, the company closed 19 acquisitions with annualised revenues of $209 million, compared to 25 with a revenue of $3.4 billion in 9M’25.
J. Patrick Gallagher, Jr., Chairman and Chief Executive Officer, Arthur J. Gallagher & Co., commented, “We delivered another excellent quarter! Our combined Brokerage and Risk Management segments delivered revenue growth of 18%, including organic growth of 5%. Net earnings grew 25%, and adjusted EBITDAC also grew 25%, marking our 26th consecutive quarter of double-digit adjusted EBITDAC growth, together with another quarter of margin expansion.
“Strong client retention, excellent new business and continued growth in our clients’ businesses, together with our continued success growing through acquisitions, demonstrate the strength of our two-pronged growth strategy and the diversity of our business.”
He continued, “These results demonstrate the strength and resilience of our diversified model as market conditions evolve. As risk becomes more complex, our clients continue to value our advice, advocacy, analytics and market access. We have a terrific team, a proven strategy and significant opportunities ahead of us, and we remain very confident in our ability to create long-term value for our clients, colleagues and shareholders.”
