Arthur J. Gallagher & Co. Files 2023 Annual Report (10-K)

TL;DR

<b>Arthur J. Gallagher & Co. has filed its 2023 10-K annual report detailing financial performance and business operations.</b>

AI Summary

Arthur J. Gallagher & Co. (AJG) filed a Annual Report (10-K) with the SEC on February 9, 2024. Arthur J. Gallagher & Co. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the company's financial performance and business operations. Key financial data and risk factors are detailed within the report. The report includes information on executive compensation and segment performance. It provides a comprehensive overview of the company's fiscal year.

Why It Matters

For investors and stakeholders tracking Arthur J. Gallagher & Co., this filing contains several important signals. This 10-K filing provides investors with a detailed look at Arthur J. Gallagher & Co.'s financial health, operational performance, and strategic positioning for the fiscal year 2023. Understanding the specifics of revenue segments, executive compensation, and risk factors is crucial for assessing the company's future growth prospects and potential challenges.

Risk Assessment

Risk Level: medium — Arthur J. Gallagher & Co. shows moderate risk based on this filing. The company operates in the insurance brokerage sector, which is subject to regulatory changes, market volatility, and competitive pressures, as detailed in the risk factors section of the 10-K.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess Arthur J. Gallagher & Co.'s performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-02-09 — Filing Date (Date of submission)
• 148 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• Arthur J. Gallagher & Co. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-02-09 (date) — Filing date
• 6411 (industry_code) — Standard Industrial Classification
• IL (location) — State of incorporation
• 630-773-3800 (phone) — Business phone number

Forward-Looking Statements

• Arthur J. Gallagher & Co. will continue to focus on its Brokerage and Risk Management segments. (Arthur J. Gallagher & Co.) — high confidence, target: 2024-12-31

FAQ

Industry Context

Arthur J. Gallagher & Co. operates within the insurance brokerage and risk management services industry.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the revenue breakdown by segment to understand growth drivers.
2. Examine executive compensation details for insights into management incentives.
3. Review the risk factors section to identify potential challenges and mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-09: Filing Date — Date Arthur J. Gallagher & Co. submitted its 10-K.

Year-Over-Year Comparison

This is the initial filing of the 2023 10-K report.

Key Financial Figures

• $1.00 — ch registered Common Stock, par value $1.00 per share AJG New York Stock Exchan
• $48.7 billion — n at December 31, 2023 of approximately $48.7 billion. Information in this report is as of De

Filing Documents

• ajg-20231231.htm (10-K) — 7383KB
• ajg-ex4_1.htm (EX-4.1) — 18KB
• ajg-ex10_2.htm (EX-10.2) — 1649KB
• ajg-ex10_17.htm (EX-10.17) — 126KB
• ajg-ex10_20.htm (EX-10.20) — 125KB
• ajg-ex21_1.htm (EX-21.1) — 319KB
• ajg-ex23_1.htm (EX-23.1) — 23KB
• ajg-ex24_1.htm (EX-24.1) — 35KB
• ajg-ex31_1.htm (EX-31.1) — 11KB
• ajg-ex31_2.htm (EX-31.2) — 12KB
• ajg-ex32_1.htm (EX-32.1) — 5KB
• ajg-ex32_2.htm (EX-32.2) — 5KB
• ajg-ex97.htm (EX-97) — 16KB
• 0000950170-24-013370.txt (&nbsp;) — 33277KB
• ajg-20231231.xsd (EX-101.SCH) — 3144KB
• ajg-20231231_htm.xml (XML) — 7796KB

Business

Business 5 - 10 Item 1A.

Risk Factors

Risk Factors 11 - 30 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 30 Item 3.

Legal Proceedings

Legal Proceedings 31 Item 4. Mine Safety Disclosures. 31 Information About Our Executive Officers 31 Part II. Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 - 33 Item 6. [Reserved] 33 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 - 66 Item 7A. Quantitative and Qualitative Disclosure about Market Risk 66 - 68 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 69 - 129 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 126 Item 9A.

Controls and Procedures

Controls and Procedures 126 Item 9B. Other Information 126 Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 126 Part III. Item 10. Directors, Executive Officers and Corporate Governance 127 Item 11.

Executive Compensation

Executive Compensation 127 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 127 Item 13. Certain Relationships and Related Transactions, and Director Independence 127 Item 14. Principal Accountant Fees and Services 127 Part IV. Item 15. Exhibits and Financial Statement Schedules 127 - 129 Item 16. Form 10-K Summary 129

Signatures

Signatures 130 Schedule II - Valuation and Qualifying Accounts 131 4 Part I

B usiness

Item 1. B usiness. Overview Arthur J. Gallagher & Co. and its subsidiaries, collectively referred to herein as we, our, us or Gallagher, are engaged in providing insurance brokerage, reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals around the world. We believe that our major strength is our ability to deliver comprehensively structured insurance, reinsurance and risk management solutions, superior claim outcomes and comprehensive consulting services to our clients. Our brokerage segment operations provide brokerage and consulting services to entities of all types, including commercial, nonprofit, public sector entities, insurance companies and insurance capital providers, and to a lesser extent, individuals, in the areas of insurance and reinsurance placements, risk of loss management, and management of employer sponsored benefit programs. Our risk management segment operations provide contract claim settlement, claim administration, loss control services and risk management consulting for commercial, nonprofit, captive and public sector entities, and various other organizations that choose to self-insure property/casualty coverages or choose to use a third-party claims management organization rather than the claim services provided by an underwriting enterprise. We do not assume underwriting risk on a net basis, other than with respect to de minimis amounts necessary to provide minimum or regulatory capital to organize captives, pools, specialized underwriters or risk-retention groups. Rather, capital necessary for covering events of loss is provided by "underwriting enterprises," which we define as insurance companies, reinsurance companies and various other risk-taking entities, including intermediaries of underwriting enterprises, that we do not own or control. Since our founding in 1927, we have grown from a one-person insurance agency to the world's third la

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View this 10-K filing on SEC EDGAR