When Arthur J. Gallagher & Co. was founded, few people took note of the event. And hardly anyone-with the possible exception of those who really knew Arthur J. Gallagher-expected that one day his small business would become such a remarkable success.
It was 1927, the peak of the Roaring Twenties. In this frenzied era, a no-nonsense young salesman with purpose and determination left the then-largest insurance broker in Chicago, where he had become the leading producer, and started his own firm, Arthur J. Gallagher & Co.
Mr. Gallagher's aim was to be an insurance broker for commercial and industrial clients. He was dedicated to excellence in service. But getting the new business off the ground would not be easy. Within two years, on Black Thursday in October, 1929, the stock market crashed. The business boom was over and the country sank into the Great Depression of the 1930s.
While the economy practically collapsed and business slowed to a crawl, Mr. Gallagher followed sound business practices to establish Arthur J. Gallagher & Co. on a solid foundation for long-term growth. Along the way to becoming one of the largest insurance brokers in the world, the company earned an enviable reputation for innovation and professionalism.
In 2002, Arthur J. Gallagher & Co. proudly celebrated its 75th anniversary.