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Patrick Gallagher

Chairman & CEO, Arthur J. Gallagher & Co.

Search every verified Patrick Gallagher interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. J. Patrick Gallagher Jr., chairman and CEO of Arthur J. Gallagher & Co., addressed investors during a quarterly meeting on September 23, 2026, discussing the company’s business strategies, market conditions, and financial outlook. He noted that property insurance market conditions are easing as capacity returns, while casualty lines remain firmer due to continued pressure on loss costs and underwriting margins. He cited renewal premium changes across the company’s property and casualty brokerage businesses in July and August, including property lines down 6%, casualty lines up 5% overall, professional lines up 2%, personal lines up 3%, and workers compensation up 2%. Gallagher also highlighted the company’s growth trajectory, stating that since 2020 it has grown organically by over $3 billion and acquired more than $6 billion of annualized revenue, while still touching less than 5% of the global insurance market. He said this provides a long runway for winning new business organically and adding merger partners. He added that the company’s EVA act margins have improved by nearly 800 basis points since January 2020, with continued opportunities for improvement. He expressed confidence in the company’s position, citing its people, proven strategy, and opportunities ahead, and said he looked forward to discussing third quarter results on the next earnings call.

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Notable quotes

“Probably the single biggest time for trauma was in 2004 when none of your students or most people listening this podcast will not remember a guy's name by the name of Elliot Spitzer. Elliot Spitzer was the attorney general of the state of New York and decided for whatever reason that the way insurance was handled in risk management uh he didn't think it complied with his concept of what was morally right and acceptab”

“I do believe over the next few years we see about 5% savings in our producer and field sales layer maybe 10 to 15% in our service layer cost and 20 to 30% in our back office layer cost now of course some of that will be reinvested to meet changing customer demand our investment needs and ever evolving insurance market landscape.”

“We are leading the way and saying, 'Look, multiples got to come down.' And that's just a fact because we are not in the business of diluting our shareholders. So if our multiples down, we can't simply pay what somebody would like to get.”

“Multiples got driven sky-high by private equity money. Of course, there was a time when I couldn't answer the phone that wasn't a private equity player trying to talk me into going private. I had my own officers at some time saying, 'We ought to maybe consider this.' And I kept saying, 'No. It took us a long time to get ourselves public. That's where we are, and that's where we're going to stay.' And I think that str”

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