Arthur J Gallagher and Co (AJG) |
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Arthur J Gallagher And Co 's Comment on Competitors and Industry Peers
Brokerage Segment We were the fourth largest insurance broker worldwide based on total revenues.
The insurance brokerage and service business is highly competitive and there
are many insurance brokerage and service organizations and individuals throughout
the world who actively compete with us in every area of our business.
Our retail and wholesale brokerage operations compete with Aon plc, Marsh &
McLennan Companies, Inc. and Willis Towers Watson Public Limited Company, each
of which has greater worldwide revenues than us. In addition, various other
competing firms, such as Jardine Lloyd Thomson Group plc, Wells Fargo Insurance
Services, Inc., Brown & Brown Inc., Hub International Ltd., Lockton Companies,
Inc. and USI Holdings Corporation, operate nationally or are strong in a particular
region or locality and may have, in that region or locality, an office with
revenues as large as or larger than those of our corresponding local office.
We believe that the primary factors determining our competitive position with
other organizations in our industry are the quality of the services we render
and the overall costs to our clients. In addition, for health/welfare products
and benefit consultant services, we compete with larger firms such as Aon Hewitt,
Mercer (a subsidiary of Marsh & McLennan Companies, Inc.), Willis Towers
Watson Public Limited Company, mid-market firms such as Lockton, USI Holdings,
and Wells Fargo and the benefits consulting divisions of the national public
accounting firms, as well as a vast number of local and regional brokerages
and agencies.
Our wholesale brokerage and binding operations compete with large wholesalers
such as CRC Insurance Services, Inc., RT Specialty, AmWINS Group, Inc., Swett
& Crawford Group, Inc., as well as a vast number of local and regional wholesalers.
We also compete with certain insurance companies that write insurance directly
for their customers. Government benefits relating to health, disability, and
retirement are also alternatives to private insurance and indirectly compete
with us.
Risk Management Segment
Our risk management operation currently ranks as the world’s largest property/casualty
third party claims administrator based on revenues, according to Business Insurance
magazine’s March 30, 2015 edition. While many global and regional claims
administrators operate within this space, we compete directly with Sedgwick
Claims Management Services, Inc., Broadspire Services, Inc. (a subsidiary of
Crawford & Company), ESIS (a subsidiary of ACE Limited) and CorVel. Several
large insurance companies, such as Travelers and Zurich Insurance, also maintain
their own claims administration units, which can be strong competitors. In addition,
we compete with various smaller third party claims administrators on a regional
level. We believe that the primary factor determining our competitive position
is reputation for outstanding service and the ability to resolve customers’
losses in the most cost-efficient manner possible.
Overall company Market Share Q3 2023 |
*Market share is calculated based on total revenue.
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Who are Arthur J Gallagher and Co 's Competitors?
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+6.73%
One Year
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Aon Plc
Profile
Aon Plc operates as a professional services firm that provides a range of risk, retirement, and health solutions to clients. It offers innovative and tailored solutions to help businesses manage their risks and maximize their opportunities.
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Truist Financial Corporation Share Performance
+8.89%
30 Days
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Truist Financial Corporation
Profile
Truist Financial Corporation operates under a diversified business model providing various financial services to its clients. Primarily focused on consumer and commercial banking, Truist offers a wide range of solutions including lending, investment management, insurance, and wealth management. By combining the strengths of its predecessor banks, the company aims to deliver exceptional service and innovative solutions to help individuals and businesses achieve their financial goals.
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Cullen Share Performance
-1.93%
This Year
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Cullen
Profile
The Cullen business model is a form of corporate social responsibility where a company's profits are dedicated to funding philanthropic initiatives and addressing social issues, thus creating a positive impact in the community. It focuses on using business resources and expertise to drive social change while also generating financial returns.
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Old National Bancorp Share Performance
-0.88%
This Year
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Old National Bancorp
Profile
Old National Bancorp is a financial holding company that primarily operates through its subsidiary, Old National Bank. It offers a range of banking services, including commercial and consumer banking, mortgage lending, wealth management, and insurance products, catering to individual customers, small businesses, and large corporations.
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Univest Financial Corporation Share Performance
-10.23%
This Year
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Univest Financial Corporation
Profile
Univest Financial Corporation operates as a diversified financial services company. It provides banking, insurance, investment, and wealth management services to individuals and businesses. By offering a range of financial products and services, Univest aims to meet the diverse needs of its customers and maintain a strong presence in the financial industry.
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Summit Financial Group Inc Share Performance
-15.04%
This Year
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Summit Financial Group Inc
Profile
Summit Financial Group Inc's business model focuses on providing financial services and solutions to individuals, businesses, and institutions.
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Unum Group Share Performance
+8.71%
30 Days
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Unum Group
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Primerica Inc Share Performance
+21.40%
This Year
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Primerica Inc
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Brown and Brown Inc Share Performance
+23.73%
This Year
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Brown and Brown Inc
Profile
Brown and Brown Inc's business model is focused on providing insurance and risk management solutions to individuals and businesses. They act as an intermediary between insurance carriers and clients, offering a diverse range of insurance products and services tailored to meet specific needs. Through their extensive network and expertise, they aim to provide personalized solutions and excellent customer service.
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Erie Indemnity Company Share Performance
+78.93%
One Year
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Erie Indemnity Company
Profile
Erie Indemnity Company operates as a management company for the Erie Insurance Exchange, providing administrative and support services to the exchange and its policyholders, while also offering comprehensive property and casualty insurance products and services to individuals and businesses. Its business model revolves around providing policy administration, claims handling, and customer support, serving as the backbone for its insurance exchange's operations and delivering insurance coverage to its clients.
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Travelers Companies inc Share Performance
+2.54%
Over The Past 5 Days
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Travelers Companies inc
Profile
The Travelers Companies Inc operates as an insurance company providing a range of property and casualty insurance products and services to businesses and individuals. Their business model centers around underwriting insurance policies and generating revenue through premiums while managing risks and paying out claims.
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Assured Guaranty Ltd Share Performance
-3.31%
Over The Past 5 Days
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Assured Guaranty Ltd
Profile
Assured Guaranty Ltd operates as a financial guaranty insurance company, providing insurance and credit enhancement solutions for debt securities issued in the public and private sectors. Their business model revolves around assessing and managing credit risk, offering guarantees that protect investors against default and enabling issuers to access capital markets at more favorable terms.
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