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Arthur J. Gallagher Q2 revenue rises 24% to nearly $4B before reimbursement
The insurer broker reported net earnings of $324 million for Q2, down from $368 million in Q2 2025, even as brokerage revenue grew to $3.5 billion.
Arthur J. Gallagher & Co. reported total revenue before reimbursement of $4.0 billion for the second quarter of 2026, up 24% from $3.2 billion in Q2 2025, driven by growth across its brokerage and risk management segments, according to Reinsurance News.
Brokerage revenue increased to $3.5 billion from $2.8 billion, while the risk management arm contributed $453 million compared with $392 million a year earlier. The company said Q2 brokerage figures include about $144 million of incremental interest income tied to cash proceeds from the AssuredPartners Financing in December 2024.
For the first half of 2026, Gallagher’s revenues before reimbursement totaled $8.7 billion versus $6.9 billion in H1 2025. Brokerage revenue rose to $7.8 billion from $6.1 billion, and risk management revenue increased to $881 million from $766 million.
Despite the revenue gains, net earnings fell to $324 million in Q2 from $368 million in Q2 2025. Gallagher also said it closed six acquisitions in Q2 2026, versus nine a year earlier, and completed 14 acquisitions in H1 2026 versus 19 in H1 2025.