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Gallagher sees organic growth holding up in 2026 - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Gallagher sees organic growth holding up in 2026 by Gavin Souter J. Patrick Gallagher Jr. Agents and Brokers , Coronavirus , Financial Results , Mergers and Acquisitions , Property , Risk Management Arthur J. Gallagher & Co. , AssuredPartners Jan 29, 2026 Arthur J. Gallagher & Co.’s insurance brokerage organic revenue growth in 2026 will likely be close to the 6% it achieved in 2025, the company’s top executive said Thursday. While property insurance pricing is softening, casualty insurance rates continue to rise, and the company’s clients are not showing signs of economic weakness, J. Patrick Gallagher Jr. said on a call with analysts discussing the brokerage’s fourth-quarter results. Gallagher reported $3.59 billion in revenue for the fourth quarter, a 33.9% increase over the same period in 2024. On an organic basis, which excludes the effects of acquisitions and foreign currency fluctuations, revenue rose 5%. Gallagher closed seven acquisitions in the fourth quarter compared with 20 in the 2024 period. It completed its largest-ever deal, the $13.8 billion acquisition of AssuredPartners, in the third quarter. In its core brokerage business, it reported $3.17 billion in revenue, a 38% increase and 4% on an organic basis. By line of business, organic revenue increased 5% for U.S. retail, 7% for U.S. wholesale and specialty, 8% for reinsurance and 1% for benefits. “As we sit here today, we continue to see brokerage segment full-year 2026 organic growth of around 5.5%,” Mr. Gallagher said. Tracking Gallagher customers’ business activity, economic indicators were more positive in the first three weeks of 2026 and the fourth quarter of 2025 than they were in the third quarter, he said. In addition, while insurance rates are falling in some lines, they are increasing in others. “Property is softening, there’s no question about it. I think that casualty has still got a heavy focus from the underwriting community, both on the reinsurance side and the primary side. I’m not so sure that they’re confident in past year’s reserves. I’m not seeing the same kind of activity there that we see on the property side at all,” he said. Risk management revenue, which includes its third-party administrator Gallagher Bassett, rose 13% to $417 million. Net earnings fell 40.3% to $154 million for the quarter. Earnings before interest, taxes, depreciation, amortization and coronavirus rose 33.5% to $710 million. For the full year 2025, Gallagher reported revenue of $13.8 billion, a 20.8% increase and up 6% on an organic basis. Net earnings increased 2.2% to $1.5 billion and EBITDAC rose 17.7% to $3.68 billion. Gallagher completed 33 acquisitions in 2025, with a combined estimated annualized revenue of $3.56 billion, compared with 48 and $387 million in 2024. 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