Arthur J. Gallagher & Co. – Form 8-K Summary (April 3, 2025)

Arthur J. Gallagher & Co. entered into an Amended and Restated Credit Agreement on April 3, 2025, with Bank of America and other lenders. Key terms include:

Maturity extended: From June 22, 2028 to April 3, 2030

Facility size increased: From $1.7 billion to $2.5 billion

Optional expansion: Up to $3.0 billion if approved by lenders

Sub-facilities: Includes a $75 million letter of credit and a $250 million Euro swingline

Pricing: Now based on the company’s long-term senior unsecured debt rating

Covenants: No changes to financial ratios or key terms

This update enhances liquidity and long-term financing flexibility for the company.

Arthur J. Gallagher & Co. Acquires Litchfield Special Risks

Arthur J. Gallagher & Co. has acquired Litchfield Special Risks, Inc. (LSR), a Texas-based wholesale insurance broker and MGA specializing in transportation and property/casualty solutions. LSR will become part of Gallagher’s Risk Placement Services division, with Bill Brenton and his team continuing under current leadership.

The acquisition strengthens Gallagher’s wholesale capabilities in Texas and the Southwest. Terms of the deal were not disclosed.

arthur j. gallagher & co. (nyse: ajg) announced the acquisition of the remaining shares of philpacific insurance brokers & managers, inc. (philinsure), a commercial insurance and reinsurance broker based in the philippines. the company has offices in cebu city, greater manila, and davao city.

philinsure’s leadership, including gordon "dondi" joseph, will remain in place, reporting to sarah lyons, head of gallagher’s retail property/casualty brokerage operations in australia and asia.

j. patrick gallagher, jr., chairman and ceo, stated that philinsure’s strong growth and culture align with gallagher’s, making it an excellent fit for expanding brokerage operations in asia.

Arthur J. Gallagher & Co. announced that it has received a *second request for information* from U.S. regulators as part of the Hart-Scott-Rodino (HSR) antitrust review for its proposed acquisition of AssuredPartners, Inc. This additional request extends the waiting period for regulatory approval until 30 days after Gallagher complies, though the timeline could be adjusted by the antitrust agency or voluntarily extended by the parties.

Gallagher is actively working on its response and anticipates completing the transaction in the second half of 2025. The company, a global insurance brokerage, risk management, and consulting firm, operates in approximately 130 countries through owned entities and a network of partners.

Arthur J. Gallagher & Co. (NYSE: AJG) will be hosting its regularly scheduled quarterly management meeting on Thursday, March 20, from 8:00 a.m. until approximately 10:30 a.m. CT. This quarter's meeting will take place virtually via conference call. During the call, the company's operating and financial leaders will present background information and commentary on the company's business operations and financial outlook, and will take questions from the investment community.

The conference call will be broadcast live through Gallagher's website at www.ajg.com/irmeeting, and a conference call replay will be available at the same link through March 27, 2025. Any information distributed in conjunction with this meeting will be available on March 20 at 7:45 a.m. CT at https://www.ajg.com/March20materials.

Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Woodruff Sawyer, a San Francisco-based insurance brokerage and risk management firm. The acquisition, expected to close in the second quarter of 2025 pending regulatory approval, will enhance Gallagher’s offerings in commercial property/casualty insurance, employee benefits, and risk management. Woodruff Sawyer operates from 14 US offices and one UK office, specializing in management liability, construction, and real estate. The firm, led by Andy Barrengos, will integrate under Peter Doyle’s leadership within Gallagher’s US retail property/casualty brokerage operations.

The deal, valued at $1.2 billion, includes integration costs of $150 million over three years. Woodruff Sawyer’s pro forma revenues and EBITDAC for the trailing 12 months ended December 31, 2024, were approximately $268 million and $88 million, respectively. Both companies anticipate synergies and expanded capabilities through the acquisition. Gallagher’s Chairman and CEO, J. Patrick Gallagher, Jr., praised Woodruff Sawyer’s expertise and culture, while Barrengos expressed enthusiasm for joining Gallagher’s global network.

Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based RMA General Limited and its associated insurance broking businesses. The financial details of the transaction were not disclosed. RMA provides commercial and personal insurance, as well as life and health solutions, across New Zealand. Josh Adams and his team will operate under Carl O'Shea, who leads Gallagher’s New Zealand retail brokerage operations.

J. Patrick Gallagher, Jr., Chairman and CEO, highlighted RMA’s client-focused culture and the expansion of Gallagher’s brokerage capabilities in New Zealand. Gallagher operates in approximately 130 countries through owned operations and a network of correspondent brokers and consultants.

For investor inquiries, contact Ray Iardella at ray_iardella@ajg.com. For media inquiries, contact Paul Day at paul_day1@ajg.com. The full announcement is available on PR Newswire.

Arthur J. Gallagher & Co. has acquired Dyste Williams, a Minneapolis-based retail insurance agency specializing in commercial lines, employee benefits, and personal insurance for clients in the Upper Midwest. Terms of the transaction were not disclosed.

Dyste Williams' leadership, including Ted and Nels Dyste, will continue operating from their current location under Gallagher Agency Alliance, which focuses on small business property/casualty insurance and employee benefits.

Chairman and CEO J. Patrick Gallagher, Jr. highlighted that the acquisition enhances Gallagher's small business capabilities and expands its client service reach. Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting firm, operates in approximately 130 countries.