Arthur J. Gallagher & Co. Enters Agreement to Acquire Woodruff Sawyer
Arthur J. Gallagher & Co., a global leader in insurance brokerage, has announced its definitive agreement to acquire Woodruff Sawyer, a prominent firm based in San Francisco, California. The acquisition is valued at $1.2 billion.
Woodruff Sawyer specializes in offering a comprehensive range of commercial property and casualty products, employee benefits solutions, and risk management services. The firm primarily serves middle-market and large-market clients.
Upon completion of the acquisition, the talented team at Woodruff Sawyer, under the leadership of Chairman and CEO Andy Barrengos, will report to Peter Doyle, who heads Gallagher’s U.S. retail property and casualty brokerage operations. The deal is currently pending regulatory approval and is anticipated to be finalized by the second quarter of 2025.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., remarked, “Woodruff Sawyer is highly regarded in our industry. We’ve long admired their niche expertise and client-centric culture. Together, our combined strengths will boost the value we deliver to our clients and significantly enhance our capabilities.” He continued, “We are excited to welcome Andy and the over 600 colleagues from Woodruff Sawyer into our expanding Gallagher family.”
Echoing this sentiment, Andy Barrengos expressed enthusiasm, stating, “We are delighted to join forces with Gallagher, whose unwavering commitment to employees and culture of integrity, trust, and excellence mirrors our own. We look forward to harnessing our combined expertise and Gallagher’s extensive global reach to offer exceptional support to our clients.”
In related developments, Gallagher reported a significant rise in net earnings for 2024, reaching $1.47 billion, up from $966 million in 2023. This growth was driven by enhancements in both its brokerage and risk management segments. The firm also highlighted its successful execution of 48 mergers in 2024, underscoring its robust growth strategy, with 20 of these transactions concluded in the fourth quarter alone.
