Arthur J. Gallagher & Co. Moves to Acquire Woodruff Sawyer for $1.2 Billion
Arthur J. Gallagher & Co., a leading global insurance brokerage and risk management services firm, has announced its plan to acquire Woodruff Sawyer, a renowned brokerage based in San Francisco, California, for a total consideration of $1.2 billion. The acquisition is part of Gallagher’s strategic growth initiative, expanding its reach in the commercial property and casualty market.
Woodruff Sawyer is well-recognized for offering a comprehensive range of commercial property and casualty insurance products, employee benefits solutions, and risk management services, with a strong focus on catering to middle and large market clients. Post-acquisition, the Woodruff Sawyer team, under the leadership of Chairman and CEO Andy Barrengos, will integrate into Gallagher’s operations, reporting to Peter Doyle, who heads the U.S. retail property and casualty brokerage division at Gallagher.
The deal is currently awaiting regulatory approval and is projected to close in the second quarter of 2025. J. Patrick Gallagher, Jr., Chairman and CEO of Gallagher, expressed his enthusiasm, stating, “Woodruff Sawyer possesses an impeccable reputation in our industry. We have long admired their specialized expertise and their unwavering commitment to client service. Together, we will be able to deliver enhanced value to our clients and significantly broaden our capabilities.”
Andy Barrengos echoed this sentiment, saying, “Joining forces with Gallagher, a company that shares our deep commitment to our employees and boasts a culture of integrity, trust, and excellence, is an exciting opportunity. We are eager to combine our strengths and tap into Gallagher’s vast global resources to better serve our clients.”
In other developments, Gallagher reported a substantial increase in net earnings, reaching $1.47 billion in 2024, a notable rise from $966 million in 2023. This growth was driven by enhanced performance in both its brokerage and risk management segments. Additionally, Gallagher successfully completed 48 mergers in 2024, with 20 of these transactions being finalized in the fourth quarter alone, underscoring the company’s aggressive expansion strategy.
