On this page of StockholderLetter.com we present the latest annual shareholder letter from Arthur J. Gallagher & Co. — ticker symbol AJG. Reading current and past AJG letters to shareholders can bring important insights into the investment thesis.
2023 ANNUAL REPORT
MOMENTUM
LEADING THE WAY
THE GALLAGHER WAY
Shared values at Arthur J. Gallagher & Co. are the rock foundation of the company and our culture.
What is a shared value? These are concepts that the vast majority of the movers and shakers in the
company passionately adhere to. What are some of Arthur J. Gallagher & Co.   s shared values?
1
We are a sales and marketing company
dedicated to providing excellence in risk
management services to our clients.
2
We support one another. We believe
in one another. We acknowledge and
respect the ability of one another.
3
4
We push for professional excellence.
5
There are no second-class
citizens     everyone is important and
everyone   s job is important.
We can all improve and learn from
one another.
6
7
We   re an open society.
8
Suspicion breeds more suspicion.
To trust and be trusted is vital.
9
Leaders need followers. How leaders
treat followers has a direct impact on
the effectiveness of the leader.
Empathy for the other person is not
a weakness.
10
Interpersonal business relationships
should be built.
11
We all need one another. We are all
cogs in a wheel.
12
No department or person is an island.
13
Professional courtesy is expected.
14
Never ask someone to do something
you wouldn   t do yourself.
15
I consider myself support for our sales and
marketing. We can   t make things happen
without each other. We are a team.
16
Loyalty and respect are
earned     not dictated.
17
Fear is a turnoff.
18
People skills are very important at
Arthur J. Gallagher & Co.
19
We   re a very competitive and
aggressive company.
20
We run to problems     not away
from them.
21
We adhere to the highest standards
of moral and ethical behavior.
22
People work harder and are more effective
when they   re turned on     not turned off.
23
We are a warm, close company. This is
a strength     not a weakness.
24
We must continue building a professional
company     together     as a team.
25
Shared values can be altered with
circumstances     but carefully and
with tact and consideration for one
another   s needs.
When accepted shared values are changed or challenged, the emotional impact and negative
feelings can damage the company.
Robert E. Gallagher, May 1984
The Gallagher Way     which spells out the key tenets of Gallagher   s culture     is a one-page
document written in 1984 by our late Chairman and CEO Robert E. Gallagher.
 • shareholder letter icon 3/22/2024 Letter Continued (Full PDF)
 • stockholder letter icon 3/27/2023 AJG Stockholder Letter
 • stockholder letter icon More "Insurance Brokers" Category Stockholder Letters
 • Benford's Law Stocks icon AJG Benford's Law Stock Score = 86


AJG Shareholder/Stockholder Letter Transcript:

2023 ANNUAL REPORT
MOMENTUM
LEADING THE WAY

THE GALLAGHER WAY
Shared values at Arthur J. Gallagher & Co. are the rock foundation of the company and our culture.
What is a shared value? These are concepts that the vast majority of the movers and shakers in the
company passionately adhere to. What are some of Arthur J. Gallagher & Co.   s shared values?
1
We are a sales and marketing company
dedicated to providing excellence in risk
management services to our clients.
2
We support one another. We believe
in one another. We acknowledge and
respect the ability of one another.
3
4
We push for professional excellence.
5
There are no second-class
citizens     everyone is important and
everyone   s job is important.
We can all improve and learn from
one another.
6
7
We   re an open society.
8
Suspicion breeds more suspicion.
To trust and be trusted is vital.
9
Leaders need followers. How leaders
treat followers has a direct impact on
the effectiveness of the leader.
Empathy for the other person is not
a weakness.
10
Interpersonal business relationships
should be built.
11
We all need one another. We are all
cogs in a wheel.
12
No department or person is an island.
13
Professional courtesy is expected.
14
Never ask someone to do something
you wouldn   t do yourself.
15
I consider myself support for our sales and
marketing. We can   t make things happen
without each other. We are a team.
16
Loyalty and respect are
earned     not dictated.
17
Fear is a turnoff.
18
People skills are very important at
Arthur J. Gallagher & Co.
19
We   re a very competitive and
aggressive company.
20
We run to problems     not away
from them.
21
We adhere to the highest standards
of moral and ethical behavior.
22
People work harder and are more effective
when they   re turned on     not turned off.
23
We are a warm, close company. This is
a strength     not a weakness.
24
We must continue building a professional
company     together     as a team.
25
Shared values can be altered with
circumstances     but carefully and
with tact and consideration for one
another   s needs.
When accepted shared values are changed or challenged, the emotional impact and negative
feelings can damage the company.
Robert E. Gallagher, May 1984
The Gallagher Way     which spells out the key tenets of Gallagher   s culture     is a one-page
document written in 1984 by our late Chairman and CEO Robert E. Gallagher.



shareholder letter icon 3/22/2024 Letter Continued (Full PDF)
 

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