Arthur J. Gallagher & Co. Q3 2026 Earnings Recap

Shares rose 2.9%, a roughly flat reaction, as Gallagher reported solid growth and margin expansion alongside easing property pricing. Organic growth was 5% across Brokerage and Risk Management, with management saying insurance rates contributed about 1 point.

Key Takeaways

• Combined Brokerage and Risk Management revenue grew 18%; organic growth was 5%.
• Net earnings and adjusted EBITDAC each rose 25%, with another quarter of margin expansion.
• Brokerage revenue increased 19%, including 5% organic growth; Risk Management revenue rose 14%, including 10% organic growth.
• Global retail property renewal premiums declined 6%, improving from down 10% in the second quarter; management attributed the change largely to renewal mix and seasonality, not a shift in the underlying market.
• Renewal premiums were up 4% for casualty, 2% for professional lines, 1% for workers’ compensation, and 3% for both personal lines and package.