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Gallagher history
Gallagher company history timeline
The company’s origins date back to 1927 when Arthur Gallagher opened an insurance agency in Chicago.
1927: Arthur Gallagher founds an insurance agency in Chicago.
The company dates back to 1927 when Arthur James Gallagher started a brokerage firm in Illinois.
The stock market crash of 1929 and subsequent economic depression elevated interest in the concept and Gallagher's business grew.
In 1938, Gallagher helped The Hartford Group develop a system to reward customers minimizing losses.
Following World War II, Arthur Gallagher’s three sons – Jim, Bob and John, join the firm in 1945.
The company incorporated in 1950 when revenues were $175,000.
A deadly fire in a Chicago Catholic school in 1958 led to the development of the plan, one that took hold nationally and raised Gallagher's profile.
In March 1963 Beatrice became self-insured.
1968: Revenues top $1 million.
In 1974 the company cofounded Lloyd's broker Gallagher, Hinton & Vereker Ltd.
By 1982, Business Insurance magazine had ranked Gallagher as the tenth largest broker in the United States.
The company introduced an online risk management information system in 1983 to allow its ever-growing list of clients to instantly access claims and loss information.
Gallagher made its initial public offering in 1984 and a few years later joined the ranks of the New York Stock Exchange.
In 1987, Gallagher was listed on the New York Stock Exchange.
Earnings climbed 25 percent to $87.8 million, the biggest gain since 1993.
1995: The grandson of the founder becomes the third leader in company history.
A fourth division was established in 1997.
During 2000, for example, Gallagher bought New Jersey-based John P. Woods Co., Inc., the world's ninth largest reinsurance broker, according to Business Insurance rankings.
The company had been making six to 12 purchases per year, according to a 2001 Crain's Chicago Business article.
During 2001, Gallagher made its biggest acquisition to date, purchasing The Galtney Group Inc., a Houston-based property and casualty broker for healthcare providers.
2004: The company completes a record 19 acquisitions.
Roberts, Sally, "Gallagher Settles with Illinois for $27 Million," Business Insurance , May 23, 2005, p.1.
Gallagher began 2005 mired in uncertainty on two fronts.
In 2010 Gallagher Brazil was established following the company's takeover of Securitas Re of São Paulo from Estater Gestao de Investimentos Ltda.
In September 2020, Gallagher announced that it was a victim of a ransomware attack.
Gallagher ranks 416 on the list as of 2 June 2021.
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Gallagher competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| National American Insurance | 1987 | $3.4B | 100 | 8 |
| Hylant | 1935 | $360.0M | 610 | 138 |
| The Travelers Companies | 1853 | $231.7M | 30,800 | 1,547 |
| Partners Advantage Insurance Services | 1993 | $20.1M | 50 | - |
| Risk Placement Services | 1997 | $1.1B | 744 | - |
| RPS First Premium | 1973 | $16.0M | 300 | - |
| Victory Insurance | 2015 | $61.0M | 50 | - |
| North Alabama Insurance | 1982 | $230.0M | 50 | 6 |
| Allied Insurance Brokers | 1982 | $57.0M | 39 | 1 |
| Aon | 1982 | $15.7B | 50,000 | 491 |
Gallagher history FAQs
Zippia gives an in-depth look into the details of Gallagher, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Gallagher. The employee data is based on information from people who have self-reported their past or current employments at Gallagher. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Gallagher. The data presented on this page does not represent the view of Gallagher and its employees or that of Zippia.
Gallagher may also be known as or be related to Arthur J Gallagher & Co, Arthur J. Gallagher & Co. and Gallagher.