Data mapping company Craft’s numbers have revealed that Arthur J. Gallagher was the fastest growing insurance firm in the Fortune 500 list.
The data mapper ranked AJ Gallagher 14th among the fastest growing firms in the elite list, registering a 30% compounded annual growth rate (CAGR) over the 2014-2016 period.
Specialist publication
Priceonomics published the Craft data in a report. The report further said that the financial sector, to which the insurer belongs, was the seventh fastest growing sector in the same period with the 78 companies in the list pulling a weighted growth average of 1.1%.
AJ Gallagher made the Fortune 500 club in 2016 with a 471 ranking, following its 558th place in 2015.
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The Fortune 500 website credits the firm’s aggressive mergers and acquisitions (M&A) strategy for its growth.
“In 2015, the Illinois-based insurance broker acquired 42 companies—15 of which were completed in the fourth quarter—with estimated revenues totalling $223 million,” the website said.
According to data published on the broker’s website, the trend continues with 12 acquisitions made as of March 23 this year.
The company is also investing in emerging business opportunities, such as clean energy ventures, which
Bloomberg said is expected to net as much as $133 million this year. The additional income will be used to support AJ Gallagher’s ongoing development roadmap, which is focused on strategic M&As to support its core brokerage and risk management operations.
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